In January of 2020, when the economy was strong and most people didn’t know what COVID was, most micro gyms were already underpriced. Even if these gyms were to fill their facilities to capacity, the numbers wouldn’t work for them to pay their coaches what they deserve, and pay themselves a sustainable living. This is especially true in barbell-based models like CrossFit, where each person requires more space and equipment to be able to work out safely.
Fast forward over a year later, and an estimated 10% of micro gyms have gone out of business.
Those that are still operational have had to increase their cleaning and staffing costs, and are restricted to operating classes at 10-50% LESS than their normal capacities.
If you want your gym to be open and thriving a year from now, it will likely require you to increase your prices sooner rather than later. And for many gyms, they have decided that having smaller classes with a more personalized experience, is now a part of their long-term vision.
In this episode, my brother and FitTown co-owner Tony Frezza joins the show to share why we believe now is the perfect time for many gym owners to raise prices, and why we just recently increased our rates at FitTown Jupiter.
For the full episode, click here: https://anchor.fm/seven-figure-box