We’re already halfway through 2019 and it’s time to check in on your gym business performance reports. The numbers can tell you which areas of your business have been performing well so far this year, and which areas might need a little extra attention. So what should you be looking at?
Here are 4 mid-year reports you should run as a gym owner:
Balanced Bank Accounts
Take a close look at your invoice records. Do you have any unpaid clients? Following up with them to collect payment increases revenue, prevents problems with balancing your accounts at the end of the month, and stops the problem from becoming worse.
Did you begin offering any new classes this year? Now is a great time to check in on their performance. Have they been well-attended generally? Do clients return to the class after they’ve tried it once? If attendance is struggling, there are steps you can take to improve class performance.
How has your churn rate been this year? If it’s higher than normal, there may be underlying problems at your gym that you are unaware of. Survey your clients to get feedback on what you could be doing to improve. Check out this article for more tips on how to retain clients.
Do you send out a newsletter or other online communications to your clients? Take a look at the data to see if clients are opening and reading your messages. If engagement numbers are low, you might need to tweak the content of the emails or change when or how often you send them. Here a few tips to improve your email marketing.
It's good to get into the habit looking at gym business performance reports halfway through the year so you can implement any necessary changes on your findings.