BFS-NYC 2019 Schedule
Dynamic pricing works wonders for profits in a lot of industries. Hotels and airlines charge different prices depending on the day of the week, time of day or date. Uber uses surge pricing during peak travel times. Movie theaters offer matinee pricing during the day when shows aren’t as crowded. It also works in the boutique fitness sector: Studios automatically adjust class prices to meet real-time demand - that means for popular classes, prices go up. For less-populated classes, prices go down. In this informative discussion, panelists will share why and how they implemented dynamic pricing in their studios - and how it fits into their long-term plan. You’ll leave knowing the pros and cons of this pricing model, whether dynamic pricing will work for your studio, and how to incorporate it into your specific business. Moderated by: Roxy Borger
Pricing is one of the biggest differentiators between successful and floundering studios. In this make-or-break session, MINDBODY University Co-creator and studio operations expert Roxy Borger will reveal how top studio owners strategically price their services to optimize revenue and improve member retention. You'll learn actionable, proven pricing strategies - and how to immediately apply them to your existing services and pricing ranges. Plus: Once you've established pricing strategies that will spark growth, discover how to simultaneously create a foundation for commitment and community.
Want proven techniques for turning your studio’s entire community of staff and members into a retention-, revenue- and profit-driving machine? In this hard-hitting session, Ntiedo “NT” Etuk, founder and CEO of FitGrid, will explain how to turn your instructors into your best brand ambassadors and community builders. Plus, learn proven methods to turn your clients into your studio’s biggest promoters. The result? Loyalty like you’ve never experienced before in your business, an active client-based “salesforce,” and a dedicated, engaged community that can’t wait to spread the word about your studio.
11:30 am - 12:10pm
Using Your Brand Culture to Generate Profits, Retain Employees and Customers & Scale Your Business
Many companies scale too quickly and add locations at a frenetic pace without first solidifying their brand and culture. The best way to survive in this competitive landscape is to get rock solid on who your company is – and your why. Amy Hochhauser, founder of multi-state-location JoyRide Cycling + Fitness, has mastered building and remotely managing high-performance teams of more than 100 instructors by making every major decision through the lens of her corporate culture and values. In this enlightening session, you’ll learn the concrete ways that JoyRide relies on its core values to more effectively manage – from hiring, to staff interactions and feedback, to customer service and more.
Many economic experts, Fortune 500 CEOs and the International Monetary Fund (IMF) predict that the economy will slow down again this year, or in 2020. The overwhelming majority of boutique fitness studios opened their doors after the crippling Great Recession of 2008, so most owners have little or no experience operating a studio during a downturn. In this enlightening panel discussion, you’ll learn how to prepare for a tougher economy by employing smart strategies, including having a cash reserve, growing your brand equity, increasing your marketing efforts, and connecting with core customers so they stay loyal - and spread the word about your facility. The time to prepare for the inevitable recession, whenever it occurs, is now.
Heading up a studio means improving your leadership game is no longer an option: it's a must. Consider how much you actually think about leadership: What does it actually mean to lead? What’s your responsibility as a leader? Whose leadership style do you admire or want to emulate? Why do you want to lead? In this essential session, Stephanie Moran, founder and CEO of CYB Studios and owner of Smiling Dog Yoga Barre and Fitness, will demonstrate how to apply key leadership principles at work, at home, and in your daily life. She’ll share her real-life experience leading at various management levels throughout her career - and how she applies the same leadership formula to a team of 500 or five. You’ll also learn the potential for incorporating these fundamentals at home and in your personal life.
Yes, your instructors can be instrumental in helping you retain your members. In this high-energy session, Steve Feinberg, founder of Speedball Fitness, will share exactly how you can motivate and incentivize your instructors to contribute directly to your studio's growth. You’ll learn how to train your staff to deliver an in-class experience that creates an emotional connection between members and your studio that keeps them coming back. Plus, learn some key ways to teach your staff to easily promote their classes when they’re not at the gym.
12:20 pm - 1:00 pm
Use This Easy Lead-Generation Formula to Attract Tons of Trial Clients to Your Studio
Need a simple yet effective lead-generation system that will bring more members to your studio in droves? In this session, Noam Tamir, owner of TS Fitness, will break down the easy-to-replicate funnel formula he uses to generate consistent new revenue with strategic investment. Using a combination of targeted Facebook ads and special trial offers to reach his ideal prospective clients, Tamir consistently converts new members each month with continuous execution of a formulaic and dependable lead-generation system. You'll leave knowing how to implement this lead-gen engine for your studio right away.
In the last year alone, there’s been an explosion of online fitness streaming services that let customers choose from hundreds of live and on-demand classes so they can exercise in their homes. Peloton Digital, ClassPass Live, Daily Burn, and Aaptiv are just some of the more popular, leading-edge companies successfully streaming fitness videos to eager consumers. In addition, providers such as Fitcloud Connect, Forte, Wexer, Burn Along, and Intelivideo have developed platforms so studios can easily produce high-quality digital programming right from their classrooms and exercise floors. In this current discussion, panelists will share their winning online streaming strategies - and how you can implement the same processes they use to start this new revenue stream for your studio. Plus: when online streaming might not be right for your studio’s services lineup. Regardless, online streaming is here to stay, and will become a point of differentiation between fitness studios sooner than you can say, “Give me 10 burpees.”
If you want to retain an engaged and enthusiastic team, it’s time to create an effective employee performance management plan that aligns with them and your business goals and strategies. When your staffers – studio managers, instructors, trainers and front-of-house associates – feel appreciated and rewarded for their efforts, your studio members will enjoy an even better experience from the moment they arrive. In this dynamic session, you’ll learn how to set up a performance management plan that keeps your team motivated around both your big-picture business goals and what they need to do daily, so your studio can continue to thrive and attract new members.
Do you own a thriving fitness studio that’s generating more than $2 million annually in one location, and want to scale up? Or do you own five or more locations, and are ready to expand your empire? In this super-charged panel discussion, experienced studio operators will flesh out the biggest challenges of scaling, including staff management, brand alignment and a consistent customer experience. Plus, you’ll learn how to determine when you’re really ready to grow, and what strategies and setup you need in place to make it happen. You’ll leave armed with real-world examples of how successful owners have scaled up, increased profitability, and kept clients happy and loyal. Invite-only session
One of the quickest ways to pump up your studio’s profits: Add a brand-new, in-demand revenue stream. Learn several proven methods to incorporate physical therapy into your existing business model—Physical therapy is a natural extension of your health and wellness brand, which can serve existing and new members. Dr. Frank Benedetto, co-founder of ProVere Health, a multimillion-dollar company that integrates physical therapy practices into boutique fitness studios, will provide you with an action plan you can kick into high gear immediately.
Get ready to take a business-changing, experiential dive into retail fitness. In this illuminating mini-accelerator course, Emma Barry, former director at both Equinox and Les Mills International, will unpack exactly what it takes to inspire “the yearn to return” in your members. You’ll rate yourself on the boutique barometer, map your staff and member journeys touchpoint by touchpoint, learn the six steps to successful onboarding, create ruthless rituals for success, and add your special sauce to the equation. You'll leave armed with a plan and a workbook to make your members’ fitness experiences unforgettable.
When not one, but three, national fitness brands open locations near your studio, you might think it’s time to hit the panic button. Not so for Amy Glosser, founder of small, community-based studio BYKlyn, who faced significant competition when several well-funded studio chains set up shop on her block. In this revealing session, Glosser will share exactly how she managed to survive and thrive by carving her own niche in a crowded market. You’ll learn how to capitalize on what differentiates your studio from the big boys and how to use those strengths to appeal to your specific target market.
4:20 pm - 5:00 pm
How a College Dropout Used Unconventional Thinking to Build a $2 Million Business in 18 Mos
Ever wondered how you can harness your entrepreneurial drive to take your business to new heights? Without any formal business training, but plenty of moxie and steely determination, Canada Lytle, founder of A Perfect 10, is opening her sixth location in less than two years. In this inspiring session, Lytle will share how her no-business-degree background and instinctual approach has fueled her wildly successful salon chain in an unlikely market with a small population – and how you can replicate her success in your community. In fact, her business just hit $2 million in annual revenue, with no debt. You’ll discover five specific ways unconventional thinking can transform your business.
Wondering how you’re going to fund your studio’s strategic growth? Financial expert David Weston, Principal at North Castle Partners, will reveal the most common and successful financing strategies for studios – including self-funding, friends and family, bank loans and investors – along with the pros and cons, requirements, timing and likelihood to work for you. He understands what it takes to finance your individual growth strategy – and will share his best recommendations for doing so.
Is there a chance you’re paying your instructors incorrectly? That’s what happened to gym owner Gail Giavaniello – and she endured a stressful audit by the New York State Department of Labor because of it. Worker classification is extremely important in the fitness industry. As many as half of independent studios pay their instructors incorrectly by treating them as independent contractors, incurring costly, time-consuming wage and tax penalties. In this interactive session, you’ll hear Giavaniello’s story and valuable lessons learned. You'll leave with actionable steps to ensure that your business complies with current labor standards and that your accounting practices have set your business up for success.