Gym Owners! Did everyone make it through the Holiday weekend & week okay? Any Labor Day victories to celebrate?
LINK: https://drive.google.com/file/d/1hkesMcEFvsw-5zx8dCp0ifOFeJp7V5rR/view?usp=share_link
If you’ve been out of the loop with the Zuckerberg Vs Musk saga, it’s recently had an interesting twist. In the past few months since the launch of new Meta App, Threads, Mark Zuckerberg and Elon Musk have been publicly teasing a cage fight to settle their differences. While Musk seems to be out, Zuckerberg has taken UFC to the next level.
Zuckerberg, the Meta billionaire, recently posted a viral clip of himself training with UFC greats, Alexander Volkanovski and Israel Adesanya. While there is no official confirmation, the post sparked rumors that Zuckerberg may still be preparing to face off against Musk.
What do you think– does Zuckerberg have a chance at a new career in MMA? And who would come out on top if the two face off?
Popular clothing retailer, Lululemon, released their Q2 financial reporting for 2023, which could foreshadow their fate in the fitness industry. Lululemon had an 18% increase in revenue and opened 10 new stores this past quarter, but their fitness acquisitions, Mirror, and Lululemon Studio, continue to struggle.
In June of 2020, Lululemon acquired Mirror— the at-home virtual fitness trainer, for $500 million. Amidst the pandemic, Mirror was a promising venture with most of America exercising in their homes. However, like other at-home equipment such as Peloton and Tonal, they saw a massive drop off in revenue as people began to return to the gym.
Lululemon Studio did not share any updates on their financials, however they did undergo layoffs this summer.
P.S- Lululemon, if you need help to grow your studios you know who to call…
Premium big-box gym, Lifetime, released a statement along with their Q2 reporting. Since Q2 of 2022, they have increased their revenue by 21.8%. What does CEO, Bahram Akradi, contribute their success to?
He claims its not marketing, promotions, or sales efforts, but rather by focusing on the desirability of their clubs.
This is an extremely important lesson for all Gym Owners. If you don't have a massive advertising budget, marketing skills, or a huge sales team, you can still increase your revenue. People are willing to pay more for a premium service– as long as you're giving them something worth paying for.
If you’d like to learn more about how to do this in your gym, check out our free resource below.
This week, Ed Turney, Director of Prestige Labs, shared an important topic on his Instagram; the steps you should take when hiring a new trainer– or any employee. Try these tips in your gym.
Number one thing you have to realize is that talent moves quickly and they take jobs, fast. Just like with lead nurture, and most other things in business– Speed is King.
Once you find a candidate you like, follow these steps:
Follow these steps and you’ll filter your applicants much faster, so you never lose a great candidate again.
Ed
⚔️ Feel-good Friday: How a cup of coffee from a gym owner changed a homeless man's life.
