Episode 97: Industry Tea with Niki Riga

What We Cover In This Episode: The rise of virtual reality and the integration efforts studio owners are implementing, plus what Niki is seeing in the studios and where she thinks the owners' efforts should lay [5:44] Megan talks about an article from Fitt Insider regarding trainers are becoming certified or licensed in different areas to provide their clients a one-stop shop, including holistic wellness [12:56] The theme of Niki's business model and how she made her studio "limitless" [17:51] A few common owner pain points in the industry that she has heard from her clients [20:05] How Niki has discovered through experience that what clients are asking for isn't necessarily what they need [25:05] Why you can't afford to not have a coach if you're in a business [32:37]  Quotes:  "Unfortunately, if your business isn't doing really well in retention, conversion and those spreadsheets, you don't really have a business. You've got a really expensive hobby." [Niki, 3:00] "A lot of times, we start yoga studios because we love yoga. Unfortunately, owning a business is like two percent yoga and ninety-eight percent all of the other stuff. Then the business owner gets frustrated because now they're not doing what they love, and they're also not doing the business side well." [Niki, 3:42]  "I think that virtual often dilutes your focus. I think it has a place, but if it's taking too much of your effort or your time and your focus away from your paying customers who are willing to go in, I think it could be splitting your focus too much." [Niki, 8:59] "What you're saying is you need more leads; what I'm hearing is you need a better process of asking that client to stay, because if you don't ask, the next studio will." [Niki, 21:34] LINKS:   Niki's Website & Instagram Her Blog Post, Stop Doing it All: 4 Partners to Help Your Fitness Business Grow Fitt Insider  fitDEGREE's Business Portal https://calendly.com/fitdegree/support [email protected] https://www.instagram.com/fitdegree/ ​​https://www.instagram.com/fitspot_guru/   https://www.instagram.com/fitdegree_nick/ https://www.instagram.com/megan_fitdegree/ https://www.fitdegree.com/blog  https://www.youtube.com/channel/UChJ5rK6zWPXjbxtUQx3ys9Q