As a group-based or class fitness business owner, it’s easy to get caught up delivering your high quality classes and supporting clients. But running a profitable business takes more than just passion. It requires understanding your numbers. That’s where our Class Profit Calculator comes in.
This tool is designed to help you quickly calculate how many clients you will need to reach your financial goals. By entering just a few basic details, the calculator gives you a realistic client target to aim for. Understanding your target will help you plan your schedule, manage your client base, and avoid any dreaded financial uncertainty.
Why does setting a targets matter?
Without a clear financial goal, it’s easy to feel lost or overwhelmed, especially when trying to balance your expenses and any unpredictable client attendance. Knowing exactly how much income you need to cover your costs and hit your profit targets makes all the difference in running a solid business. Reaching your profit goal as a brand new business might take some time. So understanding that you are on the right path and giving yourself credit for the progress you have made can keep you going during the tough weeks.
How our calculator works
It's very simple to use, only requiring a small number of basic figures that you should know already:
- Your current living expenses
- The number of classes you plan to teach
- Any rent costs you will incur for your teaching space
- What you are charging clients to attend
- The ultimate profit goal you want to reach
The only estimation we need is the number of classes you think a typical client will attend on a weekly basis. If you've already been teaching for a while you might have a good idea of this number already. If you don't try running a couple of different scenarios and you can compare them to reality later.
Make growing your classes a breeze with Striive
Getting a new class business off the ground requires a lot of work. Attracting and engaging new clients. Retaining your existing ones. Working on your brand and continually evolving your offer will demand your focussed attention.
However, there are many things you shouldn't need to spend your time doing, such as:
- Creating a new client sign up process
- Printing and storing PAR-Q's and contracts/waivers
- Tracking class pass purchases and usage
- Reconciling class payments from your bank
This is just a few of the time consuming admin jobs Striive will remove from your day, allowing you to concentrate on growing your business.
