What Does It Take to Build a 200+ Studio? Part 1: People
Description
In this podcast, we're kicking off a two-part series on what it takes to build a successful studio with 200+ members. We'll explore why 200 is the magic number and dive into the first of the three key elements: people.
1. WHY 200 IS THE MAGIC NUMBER:
a. Achievable within 12-18 months of operations
b. Profitable: $51,600 monthly revenue, with most gyms having outgoings between $20,000 - $30,000
2. THE RECIPE FOR BUILDING A 200+ MEMBERSHIP:
Three key elements of growth:
a. People
b. Product
c. Process
PEOPLE:
Crucial in any organization; we're focusing on three primary groups: The Owner, The Team Culture, and The Studio Culture
THE OWNER'S OPERATING SYSTEM:
Beliefs, Attributes, Character, and Knowledge
THE TEAM CULTURE:
Hiring A players, Cultural Fit, Proficiency, and Perspective
THE STUDIO CULTURE:
Being a gatekeeper, Rapport, Accountability, and Events
In the next pod, we'll continue with part 2 of this series, examining the remaining two elements: Product and Process.
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