Category: Podcast

How to Turn Your Studio Around — Part 2

Every studio owner encounters rough waters along their journey. So expect it. Then recognize the difference between sinking and sailing often comes down to what you do next. 

In Episode 687: How to Turn Your Studio Around — Part 2, Alina Cooper and I continue navigating the practical steps, tough choices and mindset shifts that can get you to calmer seas.

  • Invite input: regularly ask for—and gratefully receive—honest feedback 
  • Don’t guess—assess: carefully analyze key metrics and every part of your business
  • Stop the bleeding: stabilize cash flow by immediately pausing non-essential expenses 
  • Score quick wins: target lapsed clients, run winback campaigns, encourage referrals
  • Get your team on board: be transparent, invite ideas and share results 

The vast majority of issues can be addressed to pivot within 90 days. Draft your turnaround plan, adopt a win-win attitude and take action with Episode 687.

Catch you there.

With grit and gratitude,
Lisé

LINKS:

https://studiogrow.co/

https://www.instagram.com/studiogrowco

https://www.linkedin.com/company/studio-growco/

https://open.spotify.com/show/04zR1tRiRhQUdIfvLbh60N

https://www.youtube.com/@studiogrowco/videos

Booked Solid But Still Not Profitable

Welcome to this bonus podcast episode! What do you do when your studio is booked solid…but still unprofitable? When you’re teaching constantly, running the front desk, managing marketing, all the things…but can’t pay yourself? 

Find out how one yoga + Pilates studio owner finally quit working for free. Join Coach Rachel Prairie for this case study in Episode 686:  Booked Solid But Still Not Profitable. 

  • Stop undercharging: monitor market rates and bump up your prices 
  • Limit promotions: decrease discounts and deals to increase profit margins
  • Move to memberships: generate recurring revenue with tiered options
  • Adjust instructor pay: consider a flat rate plus attendance/retention incentives
  • Analyze your numbers: set and track weekly, monthly and quarterly KPIs 

Implementing these changes resulted in a 22% increase in monthly revenue in just six months! This inspired owner is now taking home more while working less. Hear her story in Episode 686.

Catch you there.

With grit and gratitude,
Lisé

LINKS:

https://studiogrow.co/

https://www.instagram.com/studiogrowco

https://www.linkedin.com/company/studio-growco/

https://open.spotify.com/show/04zR1tRiRhQUdIfvLbh60N

https://www.youtube.com/@studiogrowco/videos

How to Turn Your Studio Around — Part 1

Fueled by a dream and deep passion, good-intentioned studio owners can become so consumed with the day-to-day of the business that they miss warning signs of critical problems. 

But caught early, you can turn these issues around. Learn what to look for and what to do in my discussion with Alina Cooper in Episode 685: How to Turn Your Studio Around — Part 1.

  • Embrace self-awareness: deliberately enhance your emotional intelligence 
  • Take accountability: own issues rather than ignoring them or blaming others
  • Make the time: prioritize problems immediately before they get worse
  • Know your numbers: constantly track trends—revenue, profit, attendance and churn
  • Step back: get out of your studio and dive deep into the data to create an action plan

For more practical recommendations, check out The Oz Principle by Craig Hickman and Roger Connors. Find out how to recognize red flags and get your studio back on track in Episode 685.

Catch you there.

With grit and gratitude,
Lisé

LINKS:

https://studiogrow.co/

https://www.instagram.com/studiogrowco

https://www.linkedin.com/company/studio-growco/

https://open.spotify.com/show/04zR1tRiRhQUdIfvLbh60N

https://www.youtube.com/@studiogrowco/videos

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.

With grit and gratitude,
Lisé

LINKS:

https://studiogrow.co/

https://www.instagram.com/studiogrowco

https://www.linkedin.com/company/studio-growco/

https://open.spotify.com/show/04zR1tRiRhQUdIfvLbh60N

https://www.youtube.com/@studiogrowco/videos