How I Make Decisions Around Spending Money On The Gym

Built To Grow Fitness Business

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2M ago 21:40

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Can I afford this?

This is the first question most gym owners ask when they look at a new expense. But that’s not the right question – it’s one driven by fear. It shows that someone is holding onto every dollar, afraid to invest in growing their business.

However, spending itself isn’t the issue. The issue is spending on the wrong things.

You’ll see gym owners drop thousands on new equipment that doesn’t bring in a single extra client. But when they need to hire a coach, automate follow-ups, or improve their marketing, they hesitate. They don’t recognize that those investments could actually move the needle.

So instead of that first question, the better one to ask is: Will this investment bring in more money than it costs?

So if you’re unsure where to put your money or have felt torn between cutting costs and growing your gym, this episode is for you. Tim and Randy share their proven numbers-driven approach to spending decisions.

Tune in and learn how to shift your mindset from cost to value – and start making smarter financial moves for your gym.

Key Takeaways:

Intro (00:00)
Hiring decisions should be data-driven, not emotional (01:23)
Calculate if software or automation is worth the cost (06:29)
Focus on value over cost (10:24)
Entrepreneurs succeed by prioritizing ROI (12:46)
Reinvest saved time into revenue-generating tasks (17:47)
When scaling multiple gyms makes sense (19:49)

Additional Resources:

- Get 30 days of Semi-Private Pro on us!

- Check out our Switch to Semi-Private course

- Apply to join the Iron Circle

- Get your early bird ticket for the 2025 Growth Summit in Nashville

- Get access to the 2024 Growth Summit recordings

- Tim's new book - Built to Win by Tim Lyons

- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group

- A tool for deciding on new gym services – 5-Question Matrix

- SOP in a Day Workshop

- Business Accelerator Program

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