How to Change Careers, Pay Off Debt, & Build a Successful Gym with Jordan Stanton S18Ep3 - The Business Series
Description
Jordan Stanton, owner of Next Level Barbell, joins Matt & Scott to discuss his story of frugality, risk taking, and self-determination.
He went to college to become a nurse, but realized this was not a career he wanted to stick with long term. He began to train lifters and came to a point where he had to decide if he was going to really pursue it or not, and he ultimately did.
He paid off his bad debt with frugality and even though his initial gym was in a garage, he provided a clean space with high-quality lifting equipment and offered excellent coaching.
Although Jordan discusses going All in, he didn’t really go all in. He pushed hard, but he didn’t buy a huge warehouse and hope customers would come. If you want to start a gym, start in your garage and get a rack. Maybe move to a larger garage or get more equipment. You might eventually consider renting a small space. You don’t get an expensive space without knowing there is a customer base for you.
Jordan also realized the importance of the subscription model. He didn’t have clients pay monthly but rather had them pay monthly. This ensured regular pay. He also offered discounts for people who came regularly as opposed to coming in for one session.
Lastly, he found a huge element to creating a successful gym was building the community. The community keeps people coming and makes it harder for them to cancel, because their friends lift at the gym. This is large element to the success of CrossFit, because group classes create a social element.
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