8 Qualities Of A Successful Gym Owner
Did you know Australia is home to over 3,700 gyms with more than 3.7 million gym members? There’s a lot of money to be made as a gym owner here. However, if you want to accomplish this goal, you also need to make sure you have the right work ethic and temperament for the job.
To help you on your journey we’ve identified the essential qualities that every successful gym owner needs to possess for a winning fitness business.
Before We Start…
Just before we get into the 8 qualities, it’s important to first define what a gym owner does as well as the 3 biggest mistakes they make.
What Does a Gym Owner Do?
In simplest terms, gym owners handle everything needed to keep money coming in and ensure the facility’s lights stay on.
These responsibilities include (but are certainly not limited to) hiring, training and managing staff, handling the finances, paying bills, buying new equipment and implementing marketing strategies to bring in new members.
The best gym owners wear many different hats. They’re also not afraid to take on any kind of task, no matter how big or small it may seem.
Mistake 1: Neglecting Pre-Sales
A well-planned pre-sales strategy can help to offset some of the financial hurdles of starting up a gym. Pre-selling memberships before opening will ensure you have sufficient income right out of the gate. If you neglect presales, you’ll be scrambling around to lock down your initial members, which is the last thing a busy gym owner wants to worry about on open day.
Mistake 2: Not Focusing On Retention
It’s not just about new members — you need to keep your existing ones as happy as possible. Solid member retention is the key to long-term profitability. If you don’t you’ll have to spend more money bringing in new ones but then the cycle repeats. It’s like trying to fill a bucket with a hole in it!
Mistake 3. Not Using The Right Tools
It’s 2022 — you don’t have to do everything manually. Without adequate technology, you’ll have to do a lot more work to run your gym smoothly and create a successful business. Using the right software or tools can free you up to focus on other things and simplify the process of running a gym. Don’t view these as a cost, view them as an investment.
The 8 Qualities of a Successful Gym Owner
Now that you know what not to do, let’s dive into what you should do to be a successful gym owner. Here are 8 qualities the best gym owners all have in common:
1. They have industry expertise.
The best gym owners have experience in the fitness industry and an above-average knowledge of how it works. If you’re thinking about opening a gym but don’t have industry experience yet, start by networking with other gym owners to see the ins and outs, and also make sure you hire staff with experience.
2. They have great leadership skills.
What does a good leader look like? Everyone has a slightly different definition, of course. However, most people can agree on the following:
A good leader is kind and respectful to their employees;
They can also be firm and can be strict when needed;
They are good listeners and communicators;
They aren’t afraid to make tough decisions;
Good leaders also aren’t afraid to jump in and assist with any kind of task, no matter how menial.
3. They are financially savvy.
As a gym owner, you are responsible for paying staff salaries, paying the rent and utility bills, and managing your books. Don’t consider yourself to be very financially savvy? You may want to take some courses or work with a professional (such as an accountant or bookkeeper) to ensure you’re managing your gym’s money properly.
4. They are consistent.
To succeed in any business, including the business of running a gym, you must be consistent. You need to be willing to put in 100 per cent every day even when you’re tired, stressed, sick, etc. This is especially true in the early days of your business when you have to work extra hard to bring in new members, retain current members, train your staff, and more.
5. They adapt well.
Consistency is key, but stubbornness is not. You also need to know when to pivot and adapt your strategy to make your business more successfully. Be willing to listen to feedback from others and make adjustments to your plans when needed.
6. They have great communication skills.
Successful gym owners are excellent communicators. They know how to actively listen and can share feedback or opinions without being rude or disrespectful.
A good gym owner knows how to communicate with all kinds of people, too. In addition to managing staff members effectively, they must also be good at talking to customers, motivating them, and making them feel welcome in the gym.
7. They are patient.
Part of being an effective leader and business owner is being patient. If you get frustrated and lose patience with your employees at the first sign of trouble, you’re going to have a hard time retaining employees. This gets expensive for your gym and may also start to negatively impact its reputation.
8. They are persistent.
A successful gym owner doesn’t give up at the first sign of trouble. They are persistent and aren’t easily deterred. When they’re met with an obstacle, they face it head-on and work hard to come up with a solution.
Interested In Owning A Franchise?
Owning a gym can be challenging but incredibly rewarding. It’s even easier when you’ve got an exact blueprint that you can follow step by step — basically a recipe for success.
If you’re interested in owning a gym, Stepz might be the solution you’ve been looking for. We are a rapidly growing fitness franchise in Australia with a great reputation and a unique model that combines 24/7 access with group fitness under 1 roof.
When you open a Stepz Gym you don’t just get a turnkey system that will turn your passion into profit, you’ll become part of a tight knight family that supports you every step of the way. If you’d like to enquire, click the button below and we look forward to chatting with you!