How to Predict Monthly Recurring Revenue (Examples + MRR Calculator)
MRR, or Monthly Recurring Revenue, is the sum of recurring revenue that you generate month over month. Recurring revenue is income that you can expect to collect on a regular basis.
For sports and fitness businesses, MRR is an efficient way to track expected revenue brought by your memberships. For example, if you have 10 clients that each pay $30 each month for a membership, your MRR would be $300. You can count on receiving this $300 each month as long as these 10 clients remain members.
Data is the future of the industry. And it’s already here.
Learn how Upper Hand views competition, and how we are leveraging data to help our customers make smarter business decisions. At Upper Hand, we’ve talked a lot about how digital fitness and technology has challenged the businesses we serve. But, when it comes to running a studio, gym, or academy, AI is also beginning to take on a larger role within business operations.
Steal these 8 Ideas to Achieve the X-Factor (at any budget)
Learn specific ways you can compete with digital fitness through production, distribution, talent, and technology. From Peloton to Barry’s Bootcamp, there are some brands that seemed to have “hit the nail on the head” in terms of creating memorable and engaging fitness experiences. The rise of on-demand fitness throughout the pandemic has not replaced in-person fitness, however it has certainly challenged brick and mortar studios and gyms to raise the bar of consumer experience. But, very few businesses have the budget these big box gyms boast. So, how can you replicate production, distribution, talent, and technology at your studio to continue to compete locally and give your business the competitive edge? Here are some specific ways you can incorporate the X-Factor into your business model, no matter your budget.
The Secret “X-Factor” for Sports and Fitness Businesses
Learn how you can compete with the rise of digital fitness and achieve the X factor to win your share of the fitness market. This means you cannot fear industry change; rather, you must embrace it. So, how can you compete with digital fitness as a physical business? MacCauley outlines 4 areas that will contribute to achieving this X Factor: Production, Distribution, Talent, and Technology.
How Upper Hand is Making an Important Impact on Wellness
Learn how Upper Hand creates opportunities and empowers athletes to stay committed to their personal development journey. There has been a lot of disregard for fitness in the face of COVID. We’ve emphasized cleanliness and sanitation, but in some ways, we’ve forgotten about physical and mental health. Upper Hand has been able to help close that gap by helping sports and fitness business owners grow and retain clients, helping them lead active lives.
10 Surprising Facts about the Olympics
Learn ten fun facts about the Olympics as you prepare to cheer on Team USA at the Tokyo 2020 Summer Games. After being postponed a year due to COVID-19, it is finally time to celebrate athletic success at the 2020 Olympic Games in Tokyo. The 2020 Olympic Games marks only the 4th time the modern Olympics have been cancelled–the other dates being 1914, 1940, and 1944 due to World Wars I and II.
Top 10 Sports Budget Tools & Tips
10 sports budget tools and tips, including a free sports budget template, to help you manage your sports businesses finances effectively. It can be easy for coaches to overlook the financial side of their business.. I mean, after all, they just want to coach! We’ve been working with sports academies and businesses for years, and have come to understand the pain points that occur in the sports budgeting process. Here are 10 tips and tools, including a free sports budget template, to help you effectively manage your sports businesses finances.
3 Ways to Integrate Technology into your Sports & Fitness Business
Research shows that 80% of consumers are open to returning to gyms. This means that fitness studios have an opportunity to capture a large share of the market. But, in order to compete, you must integrate technology into your fitness facility to provide an exceptional experience.
Top 3 Sports + Fitness Takeaways from Apple WWDC
Within the Health App, users will be able to access information like trends, lab results, and walking steadiness. Apple also unveiled Health Sharing, where users can share this health data securely with medical professionals, while maintaining privacy. In addition, Health Sharing also allows users to share and receive health data within their family networks – all from their fingertips.
Inside Upper Hand: Meet Alexus Jimson-Miller
Alexus joined the team in August 2020 as a Customer Support Representative, where she works on the front lines of our support team to solve inbound customer and client requests. Alexus is a former Division I student-athlete and coach, and an avid track and field fan! She has been able to use her experiences to bring a coach’s mindset to solving problems.