The Benefits of Incorporating Personal Training at Your TITLE Boxing Club
Incorporating multiple revenue streams in your business is the same idea as diversifying an investment portfolio. By having a few different sources of income, you have some added flexibility and peace of mind, as you’re never completely dependent on one source. If one revenue stream suffers, the others can make up for it.
Of course, it’s much easier to incorporate different revenue streams into one business than it is to successfully hold down multiple jobs or run a few distinct businesses. But, some businesses are more conducive to multiple revenue streams than others.
For TITLE Boxing Club franchisees, their business investment allows for three different income streams – membership, retail and personal training – that are just as beneficial for the business owner as they are for the club member.
Personal Training as a Knock-Out Revenue Stream
At TITLE Boxing Club, our franchisees not only generate income from membership fees, they also benefit from personal training, as well as at least two other reliable income streams – membership and retail.
In fact, at a higher price tag than monthly membership fees, personal training is a big revenue builder. During the first three months of 2016, TITLE Boxing Clubs in the top-performing quartile each brought in more than $20,000 from personal training.
Membership fees produce a steady, consistent and high income stream. But, if you’re solely focused on membership, you limit your revenue potential. The most successful gyms and fitness clubs have several different sources built into their model, with each source generously contributing to overall profitability. And, with regularly-scheduled personal training sessions bringing in consistent revenue, it’s a significant source of income that’s also a natural service offering add-on for any fitness club.
Growing Demand Creates an Unrivaled Opportunity
More people are recognizing the benefits of personal training – from customized fitness plans to additional exercise motivation and accountability. And as more people take note of these benefits, the personal training industry has grown significantly. It’s even expected to continue growing 10 percent each year until 2026.
With such significant growth potential and consumer demand, personal training is a revenue stream gym and fitness club owners can’t afford to ignore. For TITLE Boxing Club owners, this profitable revenue stream is already included in their initial investment.
TITLE Boxing Club franchisees’ only responsibility is finding the right talent for personal training, which isn’t difficult to do in such a fast-growing industry. Plus, TITLE Boxing Club not only offers a certification program for trainers, they also help franchisees find the right instructors in their area – so franchisees are never on their own.
Personal training creates opportunities for members to reach their personal fitness goals, and it’s a lucrative income stream that can catapult franchise owners to reach their professional growth objectives. With TITLE Boxing Club’s built-in multiple revenue streams and extensive support, franchisees are set up for success from the moment they sign on the dotted line.
To learn more about becoming a TITLE Boxing Club franchisee, visit franchise.titleboxingclub.com.