Here’s what we’re talking about in this episode:

• Introduction to KPIs: KPIs (key performance indicators) are quantifiable measures used to evaluate the performance and success of a business.

• Importance of tracking KPIs: Without tracking KPIs, businesses operate blindly and make decisions based on feelings or hunches instead of actual data.

• Vanity KPIs: Not all data is valuable and some KPIs, like followers on Instagram, may not translate to increased revenue. Focus on KPIs that drive growth.

• Starting with financial performance KPIs: Michelle recommends starting with a few important financial performance KPIs, such as monthly revenue and revenue per member, to get a baseline understanding of the business.

• Revenue per member: This KPI measures the average amount of money generated by a member each month and can help improve revenue by upselling or adding new services.

• Revenue per square foot: This KPI measures the revenue generated per square foot of physical space and can help optimize utilization of the space to increase revenue.

• Payroll as a percentage of revenue: Payroll should be no more than 30% of total revenue and tracking this KPI can help make informed decisions on hiring and class scheduling.

Links:

https://www.linkedin.com/company/studio-growco/

https://studiogrow.co/

Here’s what we cover in Episode 548:

• The future of capital investment in the fitness industry 

• A deep dive into which KPIs are most important from an investment standpoint 

• Pete’s insights on leasing out space, bringing in other partners and focusing on optimizing your studio space 

• What you need to do as a studio to attract investors – and seal the deal with them!

If you’re planning to take some big swings in 2023, don’t miss this episode, y’all!

LINKS:

https://www.integritysq.com/

https://www.thehaloacademy.com/

https://thecamptc.com/

https://www.orangetheory.com/

https://www.soul-cycle.com/

Here’s what we’re talking about in Episode 547:

• How Anne Marie started her career in the fitness industry with programming
• Her suggestions for building programs that ensure cohesive client experience
• How Anne-Marie approached the project of building a boutique fitness concept in a 22,000 square feet space
• How Anne Marie and her team rolled out their idea of “boutique meets big box” in their marketing and messaging 
• How to build a wellness center model with physical therapists, drip labs and recovery centers by partnering with local, well-known businesses
• Anne-Marie’s tips on structuring management and sales teams 

Y’all don’t wanna miss this one. Tune in now to start listening!

LINKS: 

https://www.linkedin.com/in/annmariebarbour/

https://themine.fit/

https://www.instagram.com/themine.fit/

https://www.soulbody.fitness/

https://www.technogym.com/

Balance Is Bullshit: A Realistic Approach to Integrating Healthier Habits into Your Life by Alicia McKenzie

https://www.wimhofmethod.com/

https://hapana.com/

Here’s what we’re talking about in this episode:

• Debra’s first steps into boutique fitness and how her passion for the industry started 
  
  
• What happened when her passion evolved into her profession 
  
  
• The lesson Debra learned on false starts for clients and the way that led to her launching Row House
  
  
• How to approach digging deep into your client avatar and setting the stage for a strong brand 
  
  
• Some of the biggest things Debra has learned since she started her very first studio 
  
  
• Why she chose franchising as the path for her business with so many different options available 
  
  
• Deb’s tips to help you get into the minds of your consumer 
  
  
• Her thoughts on embracing all users or sub-avatars
  
  
• A prediction on what is to come for our industry in 2023

LINKS:

• https://www.linkedin.com/in/debrastrougo/
  
  
• https://www.therowhouse.com/
  
  
• https://connectedhealthandfitness.com/