76: How To Pay Coaches For Maximum Profitability

In this episode, Tim and Randy will talk about the number of ways that gym owners pay their coaches/personal trainers and staff. This is an area that is very important for the livelihood of a gym and it’s the one thing that every gym owner does differently.A gym owner can very easily bury their business if they pay their staff the wrong way, and this is something that is not talked about widely because it’s not considered necessary when in reality some gym owners take care of their staff so much that it hurts their business financially. That’s what Tim and Randy want to put an end to with this episode, and they will dive into how they believe gym owners should be paying their coaches/personal trainers and staff to avoid struggles with managing expenses and balancing cash flow so they can maximize the profitability of their business and scale successfully. So if you’re a gym owner looking to be a winner in the industry, you need to listen to this.Key Takeaways:The astronomical Black Friday numbers that are coming in (01:04)The way you pay your trainers needs to benefit the business first (06:13)The percentages are killing you as a gym owner (08:35)The coaches/trainers can’t have a roster of clients if a gym is to be seamless in delivering great results to its clients consistently (12:53)The team approach for the common good and how to incentivize your staff to over-deliver (15:07)Why the independent contractors paying you rent is not the best model (20:08)The changes that led to Tim’s big beautiful fitness facility (24:28)Leveraging on the fixed expenses and being smart about the variable and periodic expenses (27:29)Taking work off your shoulder as a business owner through staffing and systems (33:16)Additional Resources:Marketing Talk with Fitness Professionals Facebook Groupwww.WinningGym.com/BlackFridayDealswww.ProfitGPS.comwww.PFMarketingSolutions.com/Callwww.PFMarketingSolutions.com/Automation--If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit--You can find out more about Tim and the strategies covered in this episode by checking out our website.--Would you rather watch the video version instead?Head over to our YouTube channel to watch this episode by going here--If you don’t already have my book, get your copy FREE here.--Connect with Tim:Schedule A CallFacebookInstagramLinkedInConnect with Randy:FacebookInstagram--Subscribe to the podcast on Apple, Spotify, Google, Stitcher, YouTube or anywhere else you listen to your podcasts.If you haven't already, please rate and review the podcast on Apple Podcasts!

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