Mike Alpert, the COO at Smart Health Clubs, shares the importance of being cash flow positive and how you can achieve this.
In a recent Club Solutions webinar we focused on the importance of cash flow: how much cash comes into your club and how much cash needs to go out every day, week and month in order to run your operation.
If you are not able to generate positive cash, you will struggle to survive. Today, far too many clubs are struggling to get back to a position of being cash flow positive. One of the main reasons for this is the loss of non-dues revenue.
If your club app has a fitness component, you have an excellent opportunity to generate more revenue. It should allow members to access fitness plans that can be purchased via e-commerce. These plans should be used with a personal trainer or health coach and should be customizable. They should complement what the trainer or health coach are recommending, and should also be available virtually if the member is unable to come into the club.
In addition, your members should be able to purchase the plan and make their appointment with the personal trainer or health coach from their mobile phone or computer. This makes it seamless for the member and removes the necessity of waiting at the front desk.
Having videos and workouts — 15 second short videos — and making these available at no cost to all of your members shows that you are doing what you can to make sure everyone using your weight room can view how to safely and correctly perform each exercise. It should also be a great way to engage and market personal training to your entire membership.
