In this episode, Billy Jones, owner of Iron Den Fitness, shares how he increased his gym revenue from $22,000 to $71,000 in MRR in just 90 days!
Billy Jones was in the same position a lot of gym owners had found themselves in—after coming back from a shut down due to the pandemic, his revenue was at an all-time low.
But he shared with us how he used his time during the shutdown to reevaluate his brand and come back stronger than ever.
(You can watch the interview here)
Billy Jones is the founder and owner of Iron Den Fitness in League City, TX. He wasn’t really given the choice to continue earning the low monthly revenue he found himself pulling in.
His landlord gave him less than two months to find a new building. Unfortunately, the only viable option was five times the price as his previous space. His desire to increase his gym revenue was born from necessity as well as his passion for fitness.
As Billy reminisced, “With your back against the wall, it’s pretty cool what you can do when you absolutely have to.”
And he accomplished a lot.
Billy essentially used the shutdown as a rebirth of his brand. Not only did Iron Den Fitness change its gym’s name and logo while they were closed, but they shifted its overall focus.
Billy explained that they used that time to define who they aimed to serve (and, more specifically, who they didn’t serve) as well as the structure of their gym’s offerings.
Prior to the pandemic, his gym focused on challenges—their big sale was a 6-week challenge, focused on closing the day of. Fast forward to now—Iron Den Fitness offers a specifically prescribed and personalized 7-day onboarding with a lower barrier to entry.
Why is this so significant? Well, instead of continuing as a $30-$40/month gym, their standard membership is now $300/month.
That’s right—they’re bringing in 10 times more money per member per month than prior to the pandemic.
Billy walked me through his intake and onboarding process. He shared that his staff doesn’t even talk money until well into the onboarding process—and after exposing prospects to the value of the program, signing up for a membership is a no-brainer.
Among the impactful changes that helped Billy increase his gym revenue was his team’s sales pitch.
They now offer a 7-day trial of the program to allow prospects the opportunity to test it out before committing. “Give me one percent of your trust, and I’ll earn the other 99,” he confidently stated. And that technique has worked wonders for them.
His team uses what we at Loud Rumor like to call: The Phone Script. You can download it by clicking the image below:
Iron Den also brings in a significant amount of gym revenue solely on ancillary sales. Those ancillary sales are a no-brainer because the dedicated members who are spending several hundred dollars/month are the ones who purchase t-shirts, supplements, among other add-on products that will help them get the most out of their membership.
Billy and Mike’s Takeaways
A few of the key points we talked up during this interview were:
- Go all-in on who you serve. Get clear on who your target demographic is. You want to know exactly who your gym serves as well as who you don’t serve. In this way, you can raise the perceived value of your offerings. By honing in on his target clients, Billy was able to raise the membership price to $300, which is more profitable for the gym.
- The person who asks the questions takes control. Use the script to lead and take control on the phone. (Be sure to download the phone script!) You’re more likely to avoid blindly discussing pricing before they even walk in the door and can sell them on the value of your gym’s experience when they schedule their first visit.
You always have more to learn. Remain a student. Watch videos, read articles, attend conferences—learn from experts in the industry and continue to add to your knowledge base. Immerse yourself in a group of people who are doing what you’re doing (or want to do).
Billy does just that, which is why he is a member of the Loud Rumor Virtual Training TEAM program. The top 5% of the fitness studios we work with are in this program. They have access to a performance consultant, daily calls, free tickets to quarterly boot camp conferences, and a library of exclusive training videos…all to help grow your fitness studio!
To see if the TEAM program is a good fit for your fitness studio, click the image below to email us and type “MORE INFO”. One of our performance consultants will be in touch with you for a free consultation!
Hear from another LRVT TEAM member who was able to increase his gym revenue too! Click here!