My friend, whom I went to visit on a recent trip to California, runs the most profitable gym in America based on profit per square foot of gym space. He’s got his lead generation, customer acquisition, and even programming all down to a systematic science.
The gym runs smoothly and makes money even workoutpro though he’s rarely there. Sounds ALMOST as good as an Internet business.
Not surprisingly, after word got out about the success of his gym, other gym owners started asking him for advice.
And so he started a business coaching program. I wanted to hear all about it and he wanted to ask me a few questions to improve it, so we sat down in a breakfast restaurant across the street from his facility to dissect his coaching program.
As I devoured a breakfast burrito, he explained his funnel for getting new clients into the coaching program, AND he also passed along my new favorite business quote. We’ll get to that in a second.
First, let’s look at his product funnel, and then you can take some time today to brainstorm one for your business, or refine the one you currently use.
He sells a $20 business book (paperback) that introduces new readers to him, his training business, his gym, and to the idea that you need a mentor to succeed.
The low cost of the book allows him to use multiple distribution channels, including online (through his website and email list), and offline at the various seminars where he speaks.
The book also promotes the next levels of his product funnel.
He offers a $500 1-Day Business Seminar. This is offered in a joint venture between him and a major fitness retailer. It’s a great example of how everyone – not just Internet folks – can leverage partnerships.
At the end of the 1-Day Seminar, the next levels of his funnel are offered.
There is a $2500 3-Day “Internship” at his facility. This is predominantly sold through the Level 2 seminar, and also through his email list (which grows from all the speaking he does).
At the end of the Internship, an offer is made for the 1-year coaching program, and a large percentage of people jump to the next level because they have already received extreme value through the Internship.
He runs a $10K 1-Year Coaching Program.
At this point, I told him he needs a Level 5 – a higher priced coaching program, or even some type of franchising or licensing. He appreciated that advice, and in return, he gave me this gem of wisdom:
“You should get paid the most for the things that come easiest to you.” – Adam Urbanski
At first that sounds counterintuitive, right? After all, we’ve been told over and over that we must work REALLY HARD for our money.
And that’s true, but you work hard to become the expert. Then you teach what you know best.
Think about it this way. I’m an expert at email writing, and can teach you it a million times better than ad words. So obviously, I should charge a high price to teach you excellent email copy skills, and I shouldn’t even think of trying to teach you ad words.
For my friend, the high level coaching program is where he gets paid the most, and it comes the easiest to him because of all the hard work he has done in the almost 15 years of running his gym.
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