Episode #293

Inside Million Dollar Studios — What Does a 7-figure Studio Really Look Like?

“There’s no way you can be a 6-figure Pilates studio owner.” “Well, only after 20 years experience and if you were a second generation teacher and if you were in NYC/ LA/ London/ Sydney and even then it was a stretch. Do the math. It’s impossible.” If you think your studio can only make 7-figures […]

February 21, 2019

READY AIM EMPIRE 293: Inside Million Dollar Studios — What Does a 7-figure Studio Really Look Like?

“There’s no way you can be a 6-figure Pilates studio owner.”

“Well, only after 20 years experience and if you were a second generation teacher and if you were in NYC/ LA/ London/ Sydney and even then it was a stretch. Do the math. It’s impossible.”

If you think your studio can only make 7-figures if you charged $100/hour, and you could only charge $100 if you had 40 years of experience, were a second generation teacher and had your studio blessed by the Dalai Lama.

Then hon’, you’ve been selling yourself short.

I’ve seen a flurry of Facebook posts lately, and it’s got me thinking, how many studio owners out there have no idea of the kind of profit their studios could make?

Today we’re getting up close and personal with some of our 7-figure studios and shedding a little light on just what it takes to get to that elusive 7-figure studios.

In this episode, we’ll be looking at four of our yoga and pilates studios and really digging into the challenges that were holding them back from hitting that million dollar mark, and the changes we made to get them safely into 7-figure territory.

If figuring out how to scale your studio makes you feel about as lost as last year’s Easter egg, then darling, this is just the right episode for you.

In this episode you’ll learn:

    • What’s really possible for your studio when it comes to revenue
    • One of the biggest fitness industry myth and how it might be holding you back
    • The monthly breakdown of studios that are hitting 7-figures or $83,000 a month.
    • The metrics you need to focus on to measure (and maximize!) your studio’s revenue
    • How I calculate retention and conversion rates and why these number matter so much
    • The big mistake most studios with 1:1 clients are making
    • The one number that matters EVEN MORE than your revenue
  • And, why 7-figure revenues don’t matter unless you’re also hitting this one financial goal

With grit + gratitude,

Lisé

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#295

How to Work Smarter not Harder to Maximize Your Studio’s Profit

Hitting that 7-figure mark is like announcing your membership to the official ‘I’ve Made It’ club on a megaphone. In this episode, I’m letting you in on a little secret. The real magic’s in your profit margins. And, that million dollar mark? It’s a vanity metric. As we go into this episode, here’s one thing […]

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