I am struggling with a decision.
I am dedicated to building my coaching business and already have several coaching groups going and have run my first retreat (only took a year after getting certified to get out of my own way and stop believing I was a fraud…lol).
My journey into this weight loss and coaching world came 8 years ago when I lost 130lbs and decided to write a book and start a program to help others achieve what I tried and failed on for year’s, lasting weight loss. That book and program led me to eventually build a 5000sq ft facility where we run 32 Bootcamp classes a week and do personal training and meal plans for people. In fact, this facility is where I worked through building my coaching programs (Six Week Shred, now a Shred Mastermind group launching this month). This place, MOB (Mind Over Body) Fitness has been part of my identity for years. It is not my full-time job, it’s a passion. It doesn’t make any money, I actually pay money out of my pocket every month for payroll to keep it going. Here is where I am stuck…
I don’t believe this gym is going to make me a million dollars a year – Coaching will
I feel like if my coaching business takes off, which it will, I won’t be giving up my evenings to teach a class or train a client one on one (so more payroll expense for others to do it).
I don’t want to trade time for money – Personal Training
BUT, our members LOVE this gym
They succeed because of the environment we provide (judgment free and total boutique family style fitness)
I feel like closing this business would mean failure (I know I know…)
I have a lease for 2 more years
I also feel like this place is part of me and is an anchor for me in my own health and fitness.
I know that my coaching audience isn’t my gym members, as we are a lower cost gym and my coaching business is after high paying people.
So…Should I invest in this business and grow it?
Should I hire someone to manage it and focus on coaching?
Should I give both a go?
Should I look at options to shut it down?
When you spoke in this month behind the scenes about no overhead, it hit home. This gym has an overhead of $6,000 a month and we only bring in $4700-$5200 a month. So do we raise our prices, do we find ways to add more value, do we invest to market more?
I am so tangled in this web of the decision and can’t see a clear direction.
Thank you for adding the Entrepreneurs program, I am excited about that part!
Dave from Canada.