684: A New Competitor Just Moved In - Now What?

Whether you recently launched your studio or you've been around a while, a new competitor opening nearby typically triggers full-on panic. But competition can be a good catalyst.    Discover how to level up and proactively protect your business with Heather Garrick and Alina Cooper in Episode 684:  A New Competitor Just Moved In: Now What?   Be very curious: research competitors, document services, prices, USP, etc. Look in the mirror: solicit feedback, mystery shop your studio, analyze data Compel commitment: encourage more clients to buy long-term memberships Maximize momentum: try Bring-a-Friend week, guest trainers and challenges Get noticed: think more ads, flyers, sidewalk chalk and local partnerships   As our industry grows, competitors are inevitable. Episode 684 offers the outline to implement ongoing monitoring and double down on what makes your business different.   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/  

Studio owners often are so focused on their aesthetics or operations that they bypass a critical success factor: market research. Without it, their business decisions are simply guesses.    Join Alina Cooper and Heather Garrick for an overview of how to do your homework in Episode 683: The Silent Studio Killer: What Happens When You Skip Market Research.   Local landscape: examine your competitors' pricing, branding, schedules, etc. Audience analysis: study demographic details of your avatars Feedback forums: conduct surveys, focus groups and informal chats Deep data dive: leverage valuable analytics from your booking platform  Call to action: regularly evaluate and act on insights to enhance your business    Your perception isn't always reality, so use market research to inform your decisions—and save you critical problems, time, money and headaches. Cue Episode 683.    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 dream of owning a boutique fitness studio is the fuel, but the engine that gets you to opening your doors is funding. Knowledge and tenacity are your accelerator.   Understand your money options with Alina Cooper, Director of Start Your Studio Profitably, and Coach Matt Hanton in Episode 682: How to Fund Your Studio Without Drowning in Debt.   Go solo: bootstrap your business to maintain control and avoid bad debt Pursue tried & true: apply for an SBA (government-backed) loan as a solid source Nudge your network: enlist private investors to partner with you financially Appeal to the masses: try crowdfunding to supplement your own big investment Roll with the punches: expect the unexpected, delays and rejection along the way    The bottom line? If you're not a numbers person, you really need to become one to run a thriving business. Start learning early in your journey with Episode 682.   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/  

The paradox of a packed but unprofitable space is real for many boutique fitness studio owners. But you can turn things around by identifying and plugging common leaks in your system.    Coach Caroline Plambeck recommends how you can build a financially sustainable business in Episode 681: Beyond the Waitlist: Fixing Profit Leaks in a Fully Booked Studio.   Face the facts: calculate your break-even cost and per-class profit Price right: re-evaluate membership options and avoid excessive discounting Optimize your offerings: streamline your schedule, cut bloat and try class stacking  Prioritize your people: invest in instructor training, feedback and development Tighten your belt: eliminate financial drag with quarterly expense audits    Of course, the buzz of full classes is a reason to happy dance. But without profits, you're just treading water—and at risk of sinking. Episode 681 is your lifeline.   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/  

Y'all, first impressions are everything in the boutique studio business. When you're finally ready to launch your studio, don't underestimate the value of making a big grand opening splash.    The importance of this event—and the endless details—can feel pretty overwhelming. Heather Garrick and Alina Cooper walk you through it all in Episode 680: Ready, Set, Grand Opening!    Dress rehearsal: practice and fine-tune during soft opening 12 weeks out Insiders only: build buzz and community with private events for presale clients FOMO promos: run offers with urgency and scarcity throughout presale and opening Party time: mingle with partners and micro-influencers; provide demos and giveaways Forward momentum: maintain interest with targeted outreach and ongoing offers   Your soft opening and grand opening should be strategic, memorable and well-executed to set up your studio for success. Start planning—and stop panicking—with Episode 680.    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/

In part 2 of this series, we continue considering how what's happening in the boutique fitness industry today impacts tomorrow. (Spoiler: There's massive opportunity to look forward to!)   Get the lay of the land—and the roadmap—as Coach Rachel Prairie and I unpack trends that are evolving the industry in Episode 679: The Next Decade of Boutique Fitness, Part 2.    Small towns: studios are increasingly targeting Tier 3-Tier 5 markets  Premium plus: luxury 3.0 and concierge fitness are tailoring holistic experiences  Drop-ins that bounce: the aggregator bubble requires a 20-25% conversion rate Homogenization & commoditization: boutique brand differentiation is critical Team trials: instructors need more mentoring, and the labor shortage persists    Plus, on the horizon are unique methods within modalities, integrated sensory experiences and boutique gym pop-ups. Anticipate your studio's unlimited potential with Episode 679.    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/  

Although boutique fitness for mass market consumption is only about 20 years old, it has altered the fitness industry forever. And, y'all, what's up ahead looks incredibly promising!   Peek into the crystal ball as Coach Rachel Prairie and I reveal some exciting predictions for the next 10 years in Episode 678: The Next Decade of Boutique Fitness, Part 1.    Hot spots: lots of innovation & education in APAC, Australia, Western Europe   The powerhouse: 47% of new studio openings are Pilates (majority Reformer) Good feeling: recovery, wellness and functional medicine are on fire Girl power: huge female-driven health opportunities with boutique members Stronger than ever: strength training continues to surge worldwide    With the industry expected to grow from $51.6B today to $85.9B by 2030, studio owners should be proactively seeking opportunities to scale now. Episode 678 gives you some options.    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/  

If you're considering adding more studio locations, pop-ups can be your friend. They're a low-cost, low-risk, high-ROI way to gain visibility, gauge interest and drive demand.   Discover all that's possible as I chat with Heather Garrick, our Bespoke program CMO, in Episode 677: From Zero to Launch in 100 Days: Inside Tonal's Bold Studio Debut in NYC.    Know your goals: specify exactly what you want to learn and measure Identify your audience: target your client avatars immediately Start marketing early: build rising anticipation with waitlists and pre-sale Make contingency plans: be ready to pivot when delays and challenges arise Own the experience: make an incredible impression with exceptional service   Y'all, the Tonal Training Lab was a phenomenal success in terms of awareness and lead gen, but we don't recommend a 100-day timeline. Be inspired by this epic story in Episode 677.    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/  

In part 3 of this series about uncomfortable conversations, we're addressing what every successful boutique fitness studio owner eventually encounters: tough convos with clients.   Coach Matt Hanton and I unpack these member interactions in Episode 676: The Most Uncomfortable Conversations You're Avoiding (That Are Costing You Thousands).    Speak truth: acknowledge that, in fact, the client is NOT always right Expect criticism: respond to every review factually, respectfully and thoughtfully  Play by the rules: enforce Code of Conduct violations immediately and consistently Equip and empower: train and expect your team to act; back them up Cover your bases: record meetings, bring a witness, create a paper trail    How you handle these conversations impacts your profitability, your team/client culture and your studio's reputation in the community. Episode 676 is your go-to guide.    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/  

Welcome to part 2 of our 3-part series where we try to get comfortable with the uncomfortable (and inevitable) discussions of a studio owner.    In Episode 675: The Most Uncomfortable Conversations You're Avoiding (That Are Costing You Thousands), Coach Matt Hanton and I hit the topic of talks with your team.    Hone your tone: always treat people relationally, not transactionally Tell it like it is: be direct and candid; don't sugarcoat or complicate Try SBI: use the non-personal Situation, Behavior, Impact approach  Crunch the numbers: share benchmarks and expenses for compensation convos Normalize feedback: provide informal reviews and regular performance evals    Ultimately, it's all about respect, honesty and a mutual mission to support the business. Grab our practical recos in Episode 675.    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/