Technology Adding Value to Your Club
The fact that there are diverse factors which actually come into consideration while determining the value of the business, we from our experience in the fitness industry have come up with a series of strategies which can be followed to add value to your fitness club.
The market value of a company’s assets and the company’s overall earnings, or the earnings before interest, taxes, depreciation, and amortization (EBITDA) can be one way of determining the company value in the market.
Understanding some common mistakes can be a real help when talking in financial terms:
1) A Common Industry Misbelieve:
Annual membership is commonly believed to be more beneficial when compared to month-to-month clients. But overall, dues members have more lifetime value, acting as a multiplier for EBITDA.
Not everyone can manage the stack of papers single-handedly, involving a professional who not only can manage your documentation but also give creative inputs to enhance your market value would be an added advantage over your competitors.
Thinking of why meeting people and forming relations is coming under the category of finances, but it is important to understand the powerful impact networking can have on the market value of your fitness business. Attending industry events, exhibitions, etc. exposes you to the latest trends. Thus, improving your business strategies and bring awareness in the market of your impressive and persuasive existence.
Fitness clubs and studios usually owned by fitness enthusiasts specialize in training, thus lacking in business management. Transforming from the role of JUST FITNESS TRAINER to complete strategic management from the point of view of a businessman usually is difficult. A fitness club management software is just the thing you need, something which can manage A to Z of the administration. Exactly! a convenient solution to the issue.
STEP-2 BRING TECHNOLOGY
In today's world where a mobile application is an answer to EVERYTHING, it is necessary to bring in technology in your business too.
1) TECHNOLOGY TO ATTRACT CUSTOMERS:
There was a time when as soon as you enter a gym, you were asked to deposit your mobile phones at the entrance. Then it was unimaginable to consider gyms motivating clients to use Gizmos. Today is time of FitBit, applications to record steps taken, calories intake, floors climbed and the only future expectation is complete fitness industry depending to technology
>Bring in personalized applications, with your gym logo
>Push messages to constantly remind members to YOU
> Reminders of class and Diet plans
> Self-check with complete Body-Measurements
2) TECHNOLOGY TO SUPPORT MANAGEMENT:
A Fitness Club Management Software to provide complete support in management is a right-hand when it comes to smooth and hassle-free management. A CRM solution with:
>Automated inquiry reminders
>SMS reminders for renewals
>Segregation for different bill generation
>As easy as Drag and Drop
3) TECHNOLOGY FOR BUSINESS PROFITS:
A complete Fitness Club Management Software is a money-making tool for every business owner. An investment of less than $30 a month has the capability to fetch 3 times more result. A Management Software is an asset for the business owner
>Multiple branch management from a single screen
> Manage your business from anywhere in the world
>Software completely backed with marketing strategies
>Exclusively designed for client retention
Every business is different and so are its management and growth techniques. The fitness industry is on a high today, thus taking most from the situation a fitness club management software to handle the administrative menace leaving you with enough time to work on your finances, helping you grow and become rich.