The Business of Boutique Fitness
297: Profit Margins, The Chipotle Rule, And Why Your Studio Needs To Know Both
What does your studio need to have in common with Chipotle in order to be successful?
Tune in to this episode with our very own Studio Grow coach, Erin Haag, to get the answer.
Join in as Erin walks us through her journey from being theater student, to a corporate professional, to a brand new studio owner, and finally, the things she did to take her profit from a mere 6% to a massive 47%.
Erin reveals the secrets behind high intake conversion rates, and the key to finding those emotional hot buttons that help you connect with your clients on a deeper level.
If your revenue numbers are great, but your profit’s looking a little sad, this is one episode you can’t miss. We’re digging into the steps to automate your system, the changes you need to make to maximize profitability, and the secret behind turning your studio into a hot commodity.
In this episode you’ll learn:
- How Erin went from a theater student to a business owner
- The magic behind profit margins and total gross revenue
- Why understanding what services are the most profitable is necessary
- Your studio peak hours of profitability matters!
- Why you won’t want to expand until you’ve maxed your studio’s capacity
- How to create a profitable studio schedule
And, of course, the Chipotle rule!
With grit and gratitude,
Lisé
