Alas, MadLab’s 8th and final law of Gymmin: Building a sellable asset and retirement. Scroll through the other 7 laws here!
As a gym owner, you have two choices:
- You can create a hobby gym and a job for yourself—a business that will end whenever you decide to close the doors.
- Or you can build something to last multiple generations—a profitable business, and an asset you can sell one day so you can retire comfortably and leave a legacy.
If you’re interested in option 2, meaning you want to:
1. Build a real business with real profit that does not need the owner to be successful
2. Sell the gym to your top performers and management to retire, much like a law firm or engineering firm (5x profit + assets),
then here’s what’s you need to do:
1. Follow Laws 1 through 7, and you will:
• Retain your clients,
• Develop technically-sound, career coaches, who earn professional wages,
• Build a financially profitable business (where you’re making 15% profit each month) that you can:
• Sell to your top coaches (5 x profit + assets)
• Retire on
• Leave a legacy for the next generation
We’re not saying it’s easy. But our 8 Laws of Gymmin, which are constantly evolving, are delivering potent results for gym owners around the world.
Contact us if you want to hear more.