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Maximize the profitability of your facility
For a brick-and-mortar sports and fitness business, there is added complexity to re-open at 25-50% reduced capacity. With increased costs due to new cleanliness standards, which require additional staff and supplies, there is little room to reduce class sizes and revenue.
Maximize your upside for re-opening by knowing the gross profit margin of your programs and equipment
Historically, sports and fitness businesses have relied on maximizing capacity to generate the most revenue – whether that be filling up classes, time slots for lessons, or renting resources – to maximize revenue.
However, with new CDC and individual states’ capacity limitations, many businesses are struggling to strategize how to re-open; or to re-open at all.
Use this simple calculation to maximize profit and to help in deciding what equipment or offering you should reduce vs. shut down.
This exercise will help you:
- Identify where you achieve the highest gross profit and where you are losing/will lose money.
- Identify opportunities to convert equipment and smaller spaces within larger areas into individual, "bookable" resources.
- Short term: Assist in selecting which pieces of equipment to put a “Closed for Social Distancing” sign. Should you do that for every other piece, or should you just remove low margin equipment and space higher margin equipment to accommodate social distancing?
- Long term: Help improve how you see your business and give you new insights into how you can improve margins over time. Should you increase the price, or should you decrease the costs?
Access the worksheet!
Additional COVID-19 re-opening resources:
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