Warning! If you are currently using paper records, or Excel to manage your PT Studio, Affiliate Box or Martial Arts School…the following article may be uncomfortable to read. Fact: Paper files and spreadsheets do not a successful business make. They are short term, unscalable solutions. And just really annoying right? More to the point, they can often hide underlying weaknesses within your business, which could be undermining your efforts to grow and succeed.
The good news is, it’s easier than you imagine to avoid this situation altogether. All you need to do is implement a reliable system to consolidate and accurately track all aspects of your business. There are many systems out there that are designed to expose the strengths and weaknesses of your fitness business and allow you to detour around avoidable losses.
One of the most common losses we see among business without a system is revenue leakage. This is money you are NOT receiving because your current tracking mechanisms are inadequate.
The presentation below provides a detailed description of how management software can help you better track your revenue and avoid your hard earned money walking out the door. In summary these include:
- Providing a dashboard of your key business metrics. Sounds simple, right? Seeing the information trending over time provides a great deal of insight into where you are losing money. Do you have high levels of non-payers? Are they trending up? Member management software can help you see your business and identify areas for improvement.
- Automatic payment collections with reminders and automatic follow-up. If your are collecting all of your membership or session payments by cash or at the point of sale, you are going to lose out in the long run. People forget to pay or don’t have their card on them when they come in and all of a sudden you need to be tracking that payment and following up to collect it. It is a distraction that can be significantly reduced by collecting recurring payments as agreed with your customer when they sign up with your service.
- Accurate customer billing month to month. When you are using a system to collect your payments, everything is always up to date. Missed payments are flagged and don’t slip through the cracks. Imagine having 2-3% of your payments just forgotten every month because your paper recording system was not updated correctly. It can add up to thousands of dollars in revenue missed per year for no reason.
- PT Studio Software
- Martial Arts Software
- Gym Software
- Dance School Software