Why do most fitness businesses fail?
If you own your own fitness business or are considering starting one, this is a question that you need to consider. Because when you look at the statistics of how many studio owners and small fitness businesses are actually making it, the numbers don't look good.
In fact, only about 50% of all new businesses are still open at the 5 year mark.
You need to ask yourself this question. What is the fundamental reason why your fitness business exists? Is it to make you money? Is it because you've always wanted to be a business owner and now you'll be able to cross that off your bucket list? Or it it because you want to help your clients?
If you don't understand the fundamental reason why your business exists, it will fail. For a fitness business to succeed, it needs to exist to be of service to others.
What do you want? A Business or a Hobby?
A lot of people are unaware that instead of running a business, they're more interested in running a hobby.
The biggest mistake you can make is to become a business owner when that’s actually not what you want to be.
If you understand what you truly want now, you can make the decision for your future of whether you should stay a hobbyist and work for other people or go forward and begin your own business. And it's fine if you don't want to be a business owner. Our industry needs people who love being the technician and are helping clients on the floor.
Avoid the reason most fitness businesses fail.
If you prefer to remain a hobbyist and you can determine that for yourself now, you'll save yourself a lot of heart-ache and money.
If you're starting to fall in love with the complexity of being a business owner. If you're excited when challenged to figure out the business and the marketing aspects of your business to meet the needs of your customers and turn a profit, then you've come to the right place.
It's time to change the trend of fitness businesses lasting only three to five years.
It's time to become one of the best businesses in the industry. If you want that to be your business, let me know. Check out my blog and newsletter because I have a ton of stuff available and more in the pipeline. Let's get after it!