The Business of Boutique Fitness
447: The State of The Studio
Team Studio Grow has been super busy this year.
The first time we heard about COVID was wayyy back in January when our Asian clients started sending us emails by the dozens about ‘this one virus….’
Since then, we’ve been observing, analyzing, and crunching numbers. Working in 34 countries gave us a unique perspective of being able to see how nations dealt with the pandemic in different ways – from laissez-faire approaches to decidedly stricter measures.
We gathered all of that data and intel into something we like to call ‘State of the Studio.’
State of the Studio is somewhat of an annual tradition for Studio Grow. Every year, we sit down and review the year that’s just passed, organize our observations and information into neat little reports, and share them internally with our clientele in presentations and exclusive meetings.
This year, we wanted to take the ‘State of the Studio’ public.
Because 2020 isn’t just like any other year.
And we figured State of the Studio needed to be out there so it can help as many owners as possible.
So, welcome to the first public State of the Studio – 2020 Edition. 
We hope this is the first of many!
In today’s SoS, I’ll be sharing our takeaways for boutique fitness this year, including the definitive ups we’ve seen and 7 challenges still plaguing boutique fitness owners today.
If you want to walk into 2021 confident that you have a finger on the pulse of this industry and take away some key tips for your business, this is the episode for you!
In this episode, you will learn:
- My thoughts on increasing profit (and declining competition) during this pandemic
- Why the demand for health is going to be so much greater than it has been
- The significant growth we are seeing with new marketing efforts in our business
- Tips and strategies for utilizing recurring revenue memberships
- My thoughts on contractors and employees soliciting on social media
- Press and media struggles and how to look at government shutdowns
- What is a “predatory team member” – and what to do about this person
- Why a business crisis plan is critical, the “capacity conundrum” and so much more!
With grit and gratitude
Lisé
LINKS:
https://www.instagram.com/studiogrowco
https://www.boutiquefitnesscoalition.com/
