Make it a Rule to always make gold on every activity and program.
While it may seem obvious what business a gymnastics facility is in or should be in, in actuality this can be the most confusing and most important decision a gym owner and manager makes.
Spend Your Time on Profitable Programs and Projects
For sure, whatever programs or activities a manager decides to implement, they should be profitable. It is amazing to us how many gym owners spend valuable time on programs and special events and refuse to make an appropriate profit on them.
Use Your Time Wisely
We are all aware of the tremendous time demands required for running a gym. With limited time, it is doubly important to make a reasonable profit on every undertaking. If there is no profit to be made, then there is little reason to undertake the project.
Be Profitably Creative
While you can be creative in how you finance programs and activities, it is critical to make money on every program and not lose money on any program that has to be made up somewhere else.
Cover Your Team Costs
In gymnastics, often the program that most fits into this money losing category is the competitive team program. It is common for gyms to combine non-profit fundraising with team program fees to at least break even. Even so, it is important that fees cover the gym’s labor costs and equipment and square foot costs that are not covered by non-profit funds.
Expand Programs, Expand Profits
Gyms in larger metropolitan areas may be able to restrict their profit making to just gymnastics classes, but gyms in smaller communities will need to take every opportunity to make a profit and larger gyms would be wise to take advantage of extra profitable programs also.
Golden Rule #1: Make money on everything you do in your business, even if it is only a dollar.
Golden Rule #2: Develop related profitable programs utilizing your facility, resources and skills.
Golden Rule #3: Be creative in your profit making planning.
Golden Rule #4: After you have made your break-even point, every dollar of program income goes directly into your pocket as profit. Increase your program offerings to increase your profits.
Check Out Our Profit Report
Get the Gymnastics Gym Profits Report for over 300 profit making programs that you can implement in your gym. Some of them you may already be implementing, but we are sure you will find programs and profit centers that you are not currently providing that could not only be profitable for you, but complement your current offerings.