Home Blog Fitness Business Success: Maybe You Aren’t as Prepared as YOU Think You Are

Fitness Business Success: Maybe You Aren’t as Prepared as YOU Think You Are

Written on August 10, 2018 at 3:51 am, by Eric Cressey

A few weeks ago, we took our three-year-old twin daughters blueberry picking. They had an absolute blast - so you could say that they are very passionate about blueberry picking. In fact, they are quite certain that they are the best blueberry farmers on the planet today.

Here’s the thing, though: they really don’t know much about blueberries. And, they don’t even know what they don’t know.

Addison refused to take her sunglasses off, so she could barely tell the difference between the ripe ones and the ones that needed to stay on the branch for longer to ripen.

Lydia got so excited that she tripped over an irrigation hose.

In short, their passion left them nothing short of blind and disoriented with respect to the competencies it takes to become a successful blueberry farmer.

Sadly, this example is not much different than where many fitness professionals are at the start of their career. They're wildly passionate about fitness and really enjoy working out, so why not make it into a career?

Wikipedia defines the Dunning–Kruger effect as "a cognitive bias in which people of low ability have illusory superiority and mistakenly assess their cognitive ability as greater than it is."

In other words, you think you're going to be the varsity quarterback, but you're actually only skilled enough to be the carrying water bottles out to the JV squad. This is the harsh reality of most fitness businesses: they're often based too much on passion and not enough on specific career capital (which I previously wrote about here and here).

As a result, people who open gyms get surprised by a lot of things. Start-up costs are higher than anticipated. Generating leads is tougher than they'd expected. Managing growth proves challenging because they've never had to manage employees or pay attention to client retention strategies. They don't realize how complex managing finances is. There aren't enough hours in the day to get to everything they need to do when both working IN the business and ON the business. The list goes on and on.

And, I'd argue that these issues are even more prevalent in the fitness industry than in other entrepreneurial realms. There's a lower barrier to entry in the industry, significant initial start-up costs for gyms, and a service-oriented business model that presents unique challenges. In short, there are a lot of reasons why gyms either fail or really struggle to get by.

My Cressey Sports Performance business partner, Pete Dupuis, has a MBA and consults for various gym owners on a daily basis to help them avoid these common pitfalls. We've been at this for over 11 years and have two facilities still going strong, and a huge part of that success is the significant work we do behind the scenes to make sure we're a well-oiled machine and just just a "workout place" started because we were passionate.

With that in mind, last year, we offered our Business Building Mentorship for the first time. It sold out quickly and received outstanding feedback - so we've decided to offer it again. It'll take place October 15 at our Hudson, MA location (alongside our fall seminar). If you're interested in attending, you can learn more and register HERE.

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