The Definitive Guide to Picking a Sports Performance Trainer: Best Books on Athletic Performance
Best Book on Athletic Training For Athletes Ever?
What Is High-Performance Training For Sports?
High-Performance Training For Sports: What Are Its Benefits And How Do You Get Started With It?
How To Pick A Powerlifter’s Coach
Who Should You Choose As Your Powerlifting Coaches?
Which Powerlifting Coaching Company Should You Choose?
Why Do Some People Think That Powerlifting Is Too Hard Or Not Tough Enough?
Are There Any Other Types Of Strength Training Programs Out There?
Do You Need To Train Specific Muscle Groups More Than Others?
Is There Anything Else You Can Do To Build Up Your Physical Abilities?
What Are The Best Strength Equipment Brands For Powerlifting?
How Do You Pick The Best Powerlifting Equipment Brand?
What Makes A Good Barbell?
Why Would You Need Specialized Shirts And Suits When Powerlifting?
Should You Go With A Pullover Or A Pull-Up Variation When Training?
What Are Some Of The Best Destinations For Powerlifters To Compete Or Show Off Their Skills?
Is There Any Specialty Group Or Subculture For Powerlifters?
Can You Be Addicted To Lifting Weights? What Are The Signs And Symptoms?
What Are Some Of The Best Sources To Find Gains In Strength?
Will These Supplements Actually Benefit You In Your Training?
How Can You Go About Managing Your Time And Staying On Track With Everything?
Should You Try To Buy Everything At Once For Your New Powerlifting Gym Or Should You Buy Things Over Time As You Need Them?
What Kind Of Powerlifting Equipment Do You Really Need To Buy For Your First Gym?
How Can You Go About Getting Your Key Accessories Without Spending A Fortune?
How Should You Go About Figuring Out What Kind Of Weights To Buy When Starting Out?
What Is The Best Way To Store All Of This Weight And Equipment?
How Should You Create Your Own Powerlifting Gym From Scratch?
What Is The Best Software To Keep Track Of All Your Lifters And Their Progress?
How Can You Go About Building Up A Reputation For Your New Powerlifting Gym?
How Can You Go About Hiring The Right Staff For Your Business?
What Kind Of Government Licenses And Permits Do You Need For Your Business?
What Are The Best Advertising Methods For Your Business?
How Can You Get Your Business Covered In The Local Media?
Who Else Should You Hire To Help You With The Daily Operations Of Your Powerlifting Gym?
How Can You Go About Getting Free (Or At Least Affordable) Help With The Challenges Of Running A Small Business?
What Type Of Insurance Do You Need To Run A Successful Powerlifting Gym?
Do You Need Specialized Equipment To Coach People On How To Perform A Proper Squat?
What First Aid Equipment Do You Need For Your Powerlifting Gym?
How Can You Go About Creating A Safe Training Environment?
Why Is Fire Safety So Important In A Facility That Houses Open Flames?
What Kind Of Emergency Procedures Should You Have In Place Just In Case Of An Accident?
Should You Be Concerned About Environmental Issues (E.g.
Hazardous Chemicals) In Your Facility?
What Kind Of Entrance And Exit Strategies Should You Have In Place In The Event Of An Emergency?
What Are Some General Guidelines For Cleaning And Decontamination Procedures?
Should You Hire An Employee To Manage The Financial Aspects Of The Gym (E.g. Collecting Payments, Signing Up New People, etc.)?
What Systems Are In Place To Make Sure People Pay Their Membership On Time?
How Can You Go About Motivating People To Sign Up For More Than Just A Month At A Time?
How Much Should You Be Charging For Your Services (E.g. One-Time Registration Fee, Monthly Fee, etc.)?
Do You Have To Have Any Special Licenses Or Permits To Run This Type Of Business?
What Should You Do If You Think Someone Is Dancing Around The System (E.g.
Joining For A Month, Using The Equipment For A Week And Then Dumping The Gym Due To Lack Of Funds)?
Should You Consider Offering Any Long-Term “Members Only” Discounts Or Special Services To Your Most Valuable Clients?
How Can You Go About Setting Up An Advancement System For Your Most Committed Users?
Do You Need To Keep Tabs On Anyone Who Is Showing Signs Of Dependency?
What Kind Of System Can You Create To Measure Your Staff’s Performance (E.g. Incentive Program, Ranking Scale, etc.)?
How Can You Go About Keeping Track Of All Your Members In Terms Of Identity And Contact Information?
Should You Have The Facilities To Check Identification And Screen Out Underaged Applicants?
How Can You Go About Making Sure That The Applicants You Allow In Don’t Have Criminal Intent?
How Can You Go About Making Sure That Your Most Valuable Assets (E.g.
Your Staff) Aren’t Yearning To Leave For Better Paying Jobs?
What Kind Of Loyalty Programs Can You Create To Retain Your Best Employees?
What Kind Of Extra Training And Skills Development Can You Offer Your Staff?
How Can You Go About Encouraging A Positive Teamwork Environment?
Who Else Is Required To Keep This Place Running Properly (E.g. Plumbers, Electricians, Carpenters, Painters, etc.)?
How Can You Go About Making Sure That The Peripheral Staff Are Well Trained In Their Respective Skills?
What Kind Of Organization System Should You Put In Place To Manage Communications With All Of These Contractors?
Do You Have To Comply With Any Special State, Federal Or Local Regulations That Might Imply Extra Costs?
Are There Any Changes That Need To Be Made To Your Facility To Comply With These Rules And Regulations?
What Type Of Systems And Security Features Should You Incorporate Into The Facility (E.g. Surveillance Cameras, Keycard Entry, Biometrics, etc.)?
Do You Need To Hire Any Specialized Help (E.g. Contracted Security, IT Professionals, etc.)
To Help You With These Tasks?
What Kind Of Procedure And Protocols Should You Put In Place To Ensure That Everything Runs As Smoothly And Efficiently As Possible?
What Changes Should You Make To Your Marketing Strategy To Reflect The Changes In Your Business (E.g. If You’re Getting More Females, You May Want To Change Your Advertising To Target That Market A Bit More.)?
How Can You Refine Your Current Pricing Strategies To Maximize Profits?
How Can You Go About Making The Gym Environment More Friendly And Welcoming (E.g. Add Plasma Screens, Lounge Area, Change Facilities, etc.)?
What Kind Of New Amenities Can You Add (E.g. Indoor Pool, Sauna, Whirlpool, etc.)?
What Kind Of Membership Bonuses Can You Offers (E.g. Free Meals, Free Boasts, Free DVDs, etc.)?
How Can You Go About Differentiating Your Gym From Your Competitors (E.g. Better Equipment, Better Trainers, Better Atmosphere, Better Clientele, etc.)?
What Kind Of Long-Term Goals Should You Make To Ensure The Best Possible Growth For Your Business?
Should You Expand Into Other Areas (E.g. Multiple Locations, Franchise, etc.)?
Should You Incorporate?
Should You Go Public?
Should You Sell Shares To Investors?
Should You Merge With Another Business?
Should You Acquire Another Business?
Should You Get Into A Joint Venture With Another Company?
Should You Start Selling Your Excess Equipment Or Property (E.g. Building, Heavy Machinery, Etc.)?
What Should You Do If You Find Yourself In A Financial Rough Patch That You Just Can’t Seem To Get Out Of, No Matter What You Do?
Now that we’ve discussed how to get customers to come into your business, let’s discuss ways of maximizing the value that you get out of them.
For most businesses, the more money you can get out of your customers without alienating them and causing them to leave, the more profitable your business is going to be. Be careful not to overcharge, however. Like most things in life, you want to strike a balance.
If you’re placing your prices too high, your customers will leave to go to your competitors.
One of the most effective pricing strategies is called price discrimination. This is when you charge different people different amounts for the same product or service. The concept is based on the idea that everyone value’s things differently.
One man’s trash is another man’s treasure. So, if you can identify what something is worth to someone, you can charge whatever you want for it and they’ll still buy it.
There are three types of price discrimination: Customer-Based Pricing, Time-Based Pricing and Geographic-Based Pricing. Let’s discuss each.
Customer-based pricing is what most businesses use. This is when you set your prices based on who your customer is. For instance, children’s tickets to an amusement park are cheaper than adult tickets even though the park costs the same to operate.
The rationale is that children are thought to be more price sensitive and their parents are more likely to buy tickets if they’re cheaper. Businesses may offer discounts to senior citizens as well. Again, this is based on the idea that older people are more price sensitive and are willing to pay less for products and services than younger people.
Another common one is offering discounts to members of a particular group. Many stores offer their own members discounts and some companies offer discounts to employees of their suppliers. This type of price discrimination is based on the idea that likeminded people think alike and are more likely to do business with one another.
Time-based pricing is another effective strategy at separating people from their money. By increasing your prices at certain times, you can entice people to do business with you right now instead of putting it off. A traditional example of this is the gas stations that always seem to have the cheapest prices when you fill up at night versus during the day.
Another common one is airlines increasing their prices as departure time draws near. The idea here is that people are trying to save money so they put off making purchases until the last minute. By increasing your price as the deadline to purchase approaches, you can convince more people to buy right now.
A final pricing strategy is geographic-based pricing. This is when you change your prices depending on where your customers are located. A higher price will deter some people further away from your business from purchasing while still turning a profit.
A lower price will cause more sales but lower overall profits. You have to find the happy medium to maximize your company’s profits.
Return on Investment
Now that we’ve discussed how to get more money out of your customers, let’s talk about how to make more money off of them in the first place. The cost to make a product has little to do with how much you charge for it. You can sell simple items at a very high price or low quality products at a premium.
Here, you have some room to negotiate. One method that is common with larger companies is splitting your company up into divisions. One division can focus on cheap items that you produce by the thousands, another on mid-range items, and finally one on high-end luxury items. This method is commonly used so each division has its own identity to appeal to different types of customers.
Another method that some companies use is volatile costs.
Sources & references used in this article:
Athletic Movement Skills: training for sports performance by C Brewer – 2017 – books.google.com
The Ultimate Guide to Weight Training for Sports by RG Price – 2003 – books.google.com
Corporate community involvement: The definitive guide to maximizing your business’ societal engagement by N Lakin, V Scheubel – 2017 – books.google.com
Recognition and treatment of muscle dysmorphia and related body image disorders by JE Leone, EJ Sedory, KA Gray – Journal of athletic training, 2005 – ncbi.nlm.nih.gov
Coaching for Sports Performance by T Baghurst – 2019 – books.google.com
Motherhood and work–life balance in the National Collegiate Athletic Association Division I setting: Mentors and the female athletic trainer by J DeWitt – 2001 – Three Rivers Press
Massage for sport performance by P Mediate, AD Faigenbaum – 2004 – Healthy Learning Monterey, CA
Performance-enhancing drugs in sport: The ethical issue by CM Eason, SM Mazerolle… – Journal of athletic …, 2014 – meridian.allenpress.com