619: How to Open a Studio Profitably

628 - Selling Your Studio with Host Peter and Mitch McGinley

  Competitor opening nearby?    Cue spiking stress, nagging worries and the heavy weight of dread.     But, my friend, let’s adopt a healthier approach. Competitors are a given, so get a go-to game plan to keep your studio – and your mindset –  thriving. Trust someone who’s been there, as Coach Catherine shares top tips in Episode 627, How to Deal with Competitors Opening.    How to go on offense:   Flip the script: instead of a threat, consider competitors an opportunity to grow Do your homework: research your competitors' positioning, pricing and promotions  Bypass the price war: know your worth and refuse to undercut your value Brag better: revisit marketing strategies and reinforce your unique selling points  Nurture your peeps: seek feedback, enhance client service and love on your team   Keep in mind that competition is healthy and can make your studio even stronger. Replace the “what-ifs” with an optimistic outlook in Episode 627.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Think about Nike, Skechers and OOFOS. What comes to mind for each? They’re all shoes, but their brands are recognizably distinct.    That, y’all, is brand positioning. And you need it to differentiate your studio in a crowded market and in the minds of your clients and prospects. Coach Elle breaks the process down in Episode 626, The 3 Pillars of Brand Positioning.    Here’s a sneak peek:   Dive deep: research and really get to know your audience and ideal client avatar  Learn the landscape: analyze your competitors' client journeys, strengths and weaknesses Define and differentiate:  communicate consistently what sets your studio apart Cultivate creativity: seek inspiration from other brands and unleash your imagination  Execute effectively: intentionally incorporate your brand positioning into everything    Your brand positioning must make it clear why a person should choose you. This influences buying decisions more than anything else. Uncover how to craft your competitive edge in Episode 626.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Juggling endless responsibilities, boutique fitness studio owners have taken multitasking to Herculean levels to maximize productivity. Sound familiar?    Want to automate more tasks to win back some time? Tune in to Episode 625, Boosting Studio Growth with Momence, to get the scoop from Coach Caroline and Vojta Dramota, the CEO of Momence, an all-in-one software platform that helps you stress less.    Some need-to-knows:   Comprehensive consolidation: CRM, booking, communications, reporting and more  Marketing magic: sequences, automations, customizable templates, email and SMS Legit lead management: synced to sequences, ads and web chat conversations  Client journeys captured: visual data and reports from initial contact to member   Better bookkeeping: revenue categorization, income statements and easy integrations   We get it – transitioning to new software is a big undertaking. With Momence, get a Studio Grow discount and no downtime. Find out more in Episode 625 and at www.momence.com.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Your brand is your essence. Your differentiator. Your image.   More than your name, logo or colors, your brand defines your studio and compels an emotional connection.   So whether you’re opening a studio or need a refresh, be intentional about crafting your brand.  Coach Elle (who also happens to be a designer!) guides you through the practical process in Episode 624, Building Your Brand on a Budget.   Top takeaways:   Do your homework: research brands and brainstorm keywords for your target market Color your world: know the 101 on color psychology and physiology Enjoy free play: capitalize on Pinterest, Canva, Coolers and stock images  Go pro: hire a designer and share specific directions and details for best results  Define the rules: outline colors, fonts, tone of voice and more in a brand guidelines kit   Abandon any apprehension and unleash your creativity as you literally transform your vision into reality! Jumpstart your branding journey in Episode 624.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Ever wonder if core values are actually more than just ambitious words on paper? Does your studio really need them?    You’re in luck, because in Episode 623, Cultivating Your Core Values as a Business, Coach Catherine and Coach Peter consider the role and worth of core values.   Some need-to-knows:    Rules to live by: core values set clear expectations for your team Brand identity: these principles differentiate your studio and define your uniqueness  Code of honor: standards that guide your team, set boundaries and inspire behavior Personal pledge: core values should reflect your non-negotiables and commitment Coaching compass: priorities to reinforce compliance and call out performance issues   Common core values include integrity, collaboration, timeliness, accountability, honesty, respect and more. Outlining and reinforcing your studio’s core values fosters teamwork and steers progress in the same direction.    Cultivating your core values doesn’t have to be an overwhelming undertaking. Learn the quick play-by-play in Episode 623!   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party!  

Despite working longer and harder, do you feel like you’re on a treadmill that keeps accelerating but doesn’t let you get anywhere?    Oh, friend, I feel you. I was you. And I can help you!   Start with Episode 622: The Ins and Outs of Working with a Virtual Assistant. Coach Cara and Coach Lindsey get real on how hiring a VA can save your sanity and free you up to focus on the bigger picture.    Captured in the convo:    Ditch the delusions: lose your cape – even superheroes have the same 24 hours/ day Intentionally offload: maximize your VA’s productivity to minimize your overwhelm Invest wisely: thoroughly train (and sometimes hand-hold) to equip your VA to succeed Cash in on your freedom: use newfound time to strategize and build the business Check out: get a haircut, take a day off or actually enjoy a real vacation     As Lindsey points out, “You can do anything, but you can’t do everything!” A VA gives you more mental space and time to work on the business, rather than in the business. Discover how to capitalize on this game-changer in Episode 622!   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Ever feel like you’re throwing spaghetti at the wall when it comes to marketing? And that your leads pile up in a tangled jumble across your CRM, Google spreadsheets and sticky notes?    Not exactly strategic. There is a better way.   Join Coach Peter and Coach Elle as they lay out key learnings about leads In Episode 621: Clueless About Leads? And go from guessing to grasping. Frustrated to focused.    On the agenda:    Mastering Meta ads: lead forms versus landing pages. plus AB testing Tracking and categorizing: not all leads are the same, so sort into different buckets Prioritizing hot prospects: high-value leads and those most likely to convert  The art and science of nurturing: strategic follow-up and consistent touchpoints Conquering conversion rates: target ranges for each lead source    Plus, catch insights on the value of walk-ins, email marketing and one-on-one conversations.    Y’all, leads don’t have to be a puzzle, but you need a process (and a clue!). Find them in Episode 621!   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Lots of us open studios because we’re incredibly passionate about fitness and helping others. Where we may need some help ourselves, however, is managing finances for our business.    We got you! Y’all can learn what you don’t know. A great way to start is with Episode 620, Building Financial Strength with Billy Hofacker. Coach Caroline walks through some basics with this expert fitness money coach, who keeps it real and simple.    Among the top-line takeaways:    Key metrics to track: entire sales, gross sales, total revenue and cash flow Your root beliefs about money: overcoming a negative or fearful mindset Reducing expenses thoughtfully: without compromising the client experience Paying yourself: a non-negotiable necessity and valuing your worth Opening a second location: using a decision-making matrix and managing debt   Plus, catch Billy’s inspiring backstory, which includes a “big, muscular dude with piercings everywhere and tattoos all over his face.”  And embrace his no-nonsense philosophy that can prevent bad decisions. Learn more about Billy at yourfitnessmoneycoach.com.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Opening a boutique fitness studio is exciting. Expectant. And (honestly) exhausting.    Friend, we’ve been where you are – and learned so much along the way. So we’re sharing our expertise in my latest podcast, Episode 619, How to Open a Studio Profitably. Coach Alina breaks it down into 10 practical steps that empower you to transform your vision into reality.    Here’s just a few::   Crafting a robust business plan as your foundation Conducting market research and defining your audience Determining funding sources and developing your financial model Building a compelling brand strategy and marketing plan Recruiting and training a skilled team that models your values    And that’s only half of the goodness we’re serving up in Episode 619. Tune in to get the complete roadmap – and set yourself up for sustainable success!    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/