The Top 5 Characteristics of the Most Successful Studio Owners
Heading a studio means that upping your CEO game is no longer an option: it’s a must. The most successful fitness leaders have lots in common, like having a higher purpose, being willing to give 110% to their businesses and trusting their instincts. Five winning fitness execs, who’ll be speaking about successful studio ownership at BFS-NYC 2019, share their best strategies for walking on the entrepreneurial side.
Don’t just do it for the money.
Dr. Frank Benedetto, co-founder of ProVere and Level Up Initiative, wants to build fitness businesses that serve as vehicles for change. “Most people grow up thinking that businesses exist solely to make money,” he says. “Instead, I’ve always studied the founders hell-bent on a mission—and made lots of money as a result. My goal is to do the same in the continually merging fields of health and fitness.”
Go all in—or get out.
Being a studio owner who goes the distance requires major commitment. Think 24/7 intensity, especially in the beginning. “To succeed, it takes a lot of your energy, commitment and money,” says Stephanie Moran, CEO and founder of CYB Studios. “You have to be there every day.”
Be ready, willing and able to pivot.
Amy Glosser, founder and CEO of BKYlyn Indoor Cycling, says successful studio owners throw a lot at the wall, and continuously innovate and fail until they succeed. “Keep what works and ditch what doesn’t, but don’t get stale,” she says. Plus, be smart enough to know what you’re not good at and find a workaround. “Hire someone, find a consultant or seek out a partner, for example,” she says.
Trust your gut.
Kari Saitowitz, founder and CEO of Fhitting Room, has learned that if something doesn’t feel right in her fitness business, then it probably isn’t. “Every time I’ve gone against my gut, I’ve regretted my decision and ultimately had to change course,” says Saitowitz, who cites hiring decisions to contractor selection to booking system implementations.
“If you do misstep, recognize your mistake and move quickly to course correct,” she says. “Don’t second-guess yourself. I try to trust my gut, even if it leads to unpopular decisions in the short term.”
Maintain a sense of gratitude.
For Amy Hochhauser, co-founder and CBO at JoyRide Cycling + Fitness, the people are her perks. “I love my amazing community of both customers and staff,” she says. “To realize that what started as just an idea led to a multi-state community with a shared purpose is such a gift. And to see the lives we’ve influenced and changed, it’s worth every minute of hustle.”
To learn the ins and out of how to successfully guide your studio to success, attend our next event.