Fitness Business Success by Pat Rigsby.
Focus and Diversify
That doesn’t make any sense does it?
Bear with me and maybe I’ll change your mind.
A great way to build a fitness business is to dive headfirst into a niche and do everything you can to own it.
Brian Grasso did this with the youth market.
Lee Taft did it with speed.
Dave Schmitz did it with bands.
My buddy Paul Reddick does it with baseball.
My wife does it with moms.
If you want to become the preeminent resource for a specific market – you need to focus your efforts there.
But don’t mistake focus for being a one trick pony.
Yesterday my friend Jason Ferruggia launch his product called Triple Threat Muscle.
Jason is the go to guy when it comes to muscle building – that’s the niche he owns.
But he diversifies by generating revenue with this new product, a membership site, his original product – Muscle Gaining Secrets, running his Renegade Gym and writing for Men’s Fitness.
Brian Grasso is focused on the youth market, but generates revenue writing, speaking, with products, coaching programs our new franchise – Athletic Revolution and the IYCA.
Lee Taft is the ‘Speed Guy’ but not only does he have a facility but also a bunch of products, a Certification with the IYCA, speaks and has a membership program.
Dave Schmitz is the ‘Band Man’ but generates revenue with his camps, working with athletes, offering information products educating on band training, speaking and actually with his own line of bands and accessories.
Paul Reddick has baseball camps – but also has a variety of products and continuity programs.
Holly has her main mom’s fitness product – Fit Yummy Mummy – but also has a membership site, a DVD of the Month program, a DVD set, 2 other products and also sells Prograde to her FYMs.
So hopefully you see what I mean when I say Focus and Diversify.
Find your fitness business niche and do your best to ‘own’ it.
Then develop multiple revenue streams within that niche.
Tell me what you think below…
Dedicated to your success,
Pat Rigsby
Pat Rigsby is a Co-Owner of the International Youth Conditioning Association & the youth fitness franchise Athletic Revolution as well as a fitness industry consultant serving thousands of personal trainers and fitness entrepreneurs. Sign up for his fitness business free newsletter to discover proven marketing, sales and business strategies, along with blog updates, news, and more! While you’re at it, follow him on Twitter.
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Excellent advice as usual, thanks Pat
I like the way you’ve simplified it and made it very clear
Pat,
I love the post, so own the niche that you’re in and have multiple options within the niche? from low level intro products to super high end studios and membership or education programs?
Well here I am getting started with my quest to become the ‘exercise with back pain guy’ am developing back pain 2 lean frame now.
Thanks for the great post.
David
Personal Trainer Essex
You hit the nail on the head Pat. Businesses live and die by their niche. Too many people try to be all things to all people…or they try to compete head to head with an identical niche. Price is the worst to compete for. Know who wins in a price war? No one. One business dies and the other is completely damaged.
Then as you mentioned, once you have your niche identified…dominate it by offering whatever it is that your hungry niche wants. Great post!
Curtis Mock
Right on Pat!
I see it all over the place in my area.
Too many training businesses focus on being everything to everyone.
When I started my boot camp business I discovered a niche that was not being addressed and grew to dominate it.
Now “competitors” in the area are trying to copy our model, as we are too busy focusing on offering more of what that niche wants from us.
It’s a ketchup mustard game over hear now.
Our competitors keep lowering their prices. Now they are downsizing, moving locations, attempting to offer “new” programs that they thought of after seeing the success in another business
Like the “TV Show” Host Curtis Mock said, No one wins in the price war.
Unless, you happen to be the business raising your prices due to your high demand and growing clientele
Great post!
Pat,
This is so true! I get caught up as an eager entrepreneur trying to find that one program that is going to bring in the extra $5-10k per month.
Those are a rarity and take time to build. But if we can find two or three programs that bring in $1-2k extra per month we are right in the same ball park and can grow those to capacity.
I am now working on several smaller programs to offer a variety to our niche market and attract more of the people we want in the facility. I am confident, because most of the programs are derived from sessions working with you that they will bring us in the extra revenue that we are aiming to see each month.
Ryan Ketchum
Great information Pat!
To many people in the fitness industry are “a jack of all trades” and end up being masters on none.
I started out as most ex-athletes wanting to only train athletes.
With the guidance of Pat Rigsby and Jim Labadie I switched to running boot camps and have killed it in my area with a womens only fitness boot camp niche.
Thanks Pat! and keep em coming!
It took me almost a yr to figure out my niche but I agree with all of this and it’s working.
Good post Pat!
I’m doing my best to own my niche now, diversify our products & services into the targeted market is one way for sustainable business growth strategy.
I enjoy to reading your blog, keep it up Pat!
Rick Kaselj
http://www.ExercisesForInjuries.com
Good post Pat!
I’m doing my best to own my niche now, diversify our products & services into the targeted market is one way for sustainable business growth strategy.
I enjoy reading your blog, keep it up Pat!
Rick Kaselj
of ExercisesForInjuries.com
Great advice Pat. It took me two years to really get a handle on generating multiple streams. The other day I took time to really sit back and count what was coming in and from where, and I realized, I figured it out.
My advise to anyone struggling with generating multiple streams is this…listen to what your clients say they want and give it to them. It really is that simple.
Get paid for helping people be happy.