In 2018, the worldwide fitness industry saw membership grow to a record-high 183 million users, revenue totaling an estimated $94 billion, and club count exceeding 210,000 facilities, according to the IHRSA Global Report. As the global landscape shifts, we will continue to see gyms making a meaningful contribution to the economy.
OKRs For Gym & Fitness Franchises
Objective: Increase franchisee revenue.
KRs:
- Grow membership by 10%.
- Grow inbound leads by 20% from online sources.
- Book trial with 40% of inbounds.
- Get sales conversion rate to 80%.
Initiatives:
- Create Facebook campaign with agency.
- Put front desk staff through sales training provided by head office.
- Perform monthly review of leads vs. trials on FranConnect scorecard.
- Work on lead quality of PPC (pay-per-click) and display campaigns together with agency.
Objective: Increase profitability through marketing efficiencies.
KRs:
- Make cost per lead $50.
- Have a member retention rate of 70% (existing clients at the end of the period/existing clients at the beginning of the period).
- Increase community marketing leads by 20%.
- Increase leads from signage by 10%.
Initiatives:
- Work with property management group to have an attention-grabbing sign out front.
- Participate in local wellness expo.
- Host benchmark workout session with members for ongoing performance improvement.
- Place “first week free” flyers at businesses in the same plaza.
Objective: Delight our customers.
KRs:
- Maintain a Net Promoter Score (NPS) of 50.
- Increase member engagement in group fitness by 10%.
- Put 90% of members through the outstanding onboarding program released by head office.
- Expand social media engagement by 50%.
Initiatives:
- Host one customer appreciation event.
- Perform quarterly analysis of NPS with team on FranConnect.
- Ask staff to post pictures on social media of members reaching milestones on a monthly basis.
- Engage in seasonal giveaway campaigns of branded merchandise with social media component.
Hopefully these sample objectives and key results have helped you out. Do you want to take it a step further? Learn more about strategy and gym and fitness franchises by checking out the following:
About Objectives and Key Results in Franchising
How to be a Collaborative Franchise Business Coach (FBC)
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