As we wrapped up FY24, it is always a great time to reflect, review and plan going forward.
Check out short summary of FY24.
We watch data every day across multiple metrics and the entire Franchise network. Overall, we had some great achievements and moved forward in most areas. Of course, not everything is perfect and there are improvements in some areas. However, check out some high-level information.
- Revenue – Increase of 19% which took the group to a new Milestone.
- Attendance 295,244 ?(261,493 previous year)
- 16 studios out of 19 had their best year ever which us huge considering multiple studios are more than a decade old.
- 2 more Multi unit owners
- 5 New opens
- 0 closures
- HQ team growth in support and performance. (1-6.33 Ratio of Performance coaches to Franchise owners which allows super-fast/high contact point)
- 7 territories secured
- 2479 New members joined
- 4889 App Downloads
- Multiple studios hit a brand-new level of revenue. (We have always had the $400K club, now we have a $500K club which is huge for a $250K breakeven give or take 10%)
- Thousands of members hit new Milestones including many in the 1000 club..
Overall, we took a steady step forward as a brand and executed some great results. It is becoming more evident what it takes to succeed in 2024. I feel years ago, business owners can be good at their job and do ok, now it is another level which is the way it should be. See some short commentary around driving success at a LTYB studio.
- Programming is critical to manage consistency from the team and client results.
- Systems and processes are as important as ever. The best studios are so well drilled that anyone can walk in the studio and execute within reason.
- Never stop marketing, regardless of how busy, we always need a lead flow which avoids a lag. Businesses can get it wrong by turning marketing on and off as that strategy always has a lag effect.
- PT Recruitment processes are critical to get the right people. I will be honest, I feel our recruitment processes are elite and we have so much success with staff. (LTYB 21 day process)
- Experience is everything. The team must always deliver a great experience or members will search for this elsewhere.
- Member onboarding process is critical. Hustle, nurture, build trust and understand client needs is critical. Of course we have a solution, however understand the prospects reason to enquire and building rapport is key. The best performers are elite in this area.
- Being a student of a Franchise is massive. Learning the systems and processes, following them to a tee and engaging heavily with the HQ support and performance team is a performance trait.
- Lastly, the most important aspect is personalisation. Yes, this is our bread and butter model as we are non-circuit based, however personalising workouts, communication and goals is absolute key.
In closing, we were happy with FY24, however we have so much work to do and aspire to keep raising the bar in every way. Bring on FY25…
Athlete at Athelticsports.co.uk
8 个月Hy ben, I want to work with you