There is a bubble, like it or not you are in it.
Gym's, studios and mom and pop shops opening up left, and right anywhere you look, there is a new studio.
Even big brands like:
F45 sold over 1000 locations, Mayweather boxing is committed to 500 sites in the next five years, Orange Theory just reached 1000, and they are in development for 500 more. Shred 415 is opening 100 studios by the end of 2019, Rumble Boxing & Equinox is also on the move BIG TIME.
These are just the big players, and everyone else is opening a few hundred locations in 2019 and 2020.
So yeah this is a big bubble.
Not to mention that I have not even said anything about the Crossfit gyms, the personal training studios, and most importantly the Group Classes all over the U.S. because everyone is opening one up left and right.
Just understand this, you are in the group class industry going to compete against these big players who can afford to ask for a CHEAP price while they spend a crazy amount on advertising for a LONG LONG time!
Which means the only time you have a chance is by creating a BRAND. That's it. Nothing else... you got to separate yourself big time from the crowd and be unique. Like shock people into shape, Get Lady Strong.
Have a specific unique niche market and built a giant brand around it before its too late, because you aren't going to able to compete against the big brands that are coming to neighborhood apple to apple. So you got to separate yourself and be DIFFERENT big time.
If you arent all over :
-Online Coaching & Hybrid models to able to draw in more people to your business and brand you are going to be in big trouble.
However, one good news is if you invest in your clients and get to know them and create that client experience you have a higher chance because it's easy to break a contract but almost impossible to break a relationship.
But I got to tell you these new facilities have everything from pool to inside/outside pool, Salt pool, plunge cold and hot, Steam room and Sauna, Full SPA, Bar by the pool where there is not a single protein shake is being made. Just alcohol and food. From amazing views and amazing services like full laundry service and coat check everything is coming your way. I mean it's tough to compete against that price to price.
Not to mention that some of these big companies really invest in their coaches and they even hire a talent management agency to manage them and pay them TOP DOLLARS and fly them around in private jets...
Yep, that is real... So do you think your coaches can compete against those coaches and even if they are are you coaches loyal to your brand enough that they say no to an offer like that?
At the Equinox I go-to workout I don't go for the workout... I go for services and amenities. It's like a country club. From hot/cold towels to razor blades, hair spray, deodorant, people walking around and giving me towels, drinks, I even have security guards around me who ask me "Is everything okay sir'? When someone comes up to me to talk to me.
Not to mention the view and the daily sighting of celebs and just hanging out with LL Cool J and many others. If you watch Football (soccer) you going to love this, I accidentally bumped into the shoulder to shoulder to Zinedine Zidane. Ups... And no worries I am okay he did not head butt me! If you don't know what I am talking about you, need to google Zidane Headbutt.
On top of all this, what do you think? How long are you going to able to compete against the big gyms, amazon, online coaches on FB, Insta, and YouTube! Because its the market place and prices are going up!
You are not going to able to afford it. You know when we first started like five years ago with FB ads we got like 500 leads at any given month for less money. Now we are getting 1-200. Now we are paying more and getting less because the competition has arrived. We got to focus on the brand! Just think about why people are buying? Why do people have to have that new iPhone?
So, get on your services, branding, and coaches! Love them and most importantly grow them! Show them the future and go there together!
Build an amazing brand!