How To Fund Your Next Gym

We are in the process of rebranding our gym, Pulse Fitness, into Legacy Personal Training. We've invested $500,000 into this rebrand with repainting, flooring, equipment, and lighting. It's just a brand-new facility.While we were able to raise most of this capital out of pocket, we also had an ingenious way that you should hear about. We've not heard of any other fitness facility doing this.During the State of the Union address to announce the rebrand and the changes that will happen, we announced to the clients that we were selling ten lifetime memberships for $25k each.With a lifetime membership, a client gets unlimited lifetime personal training, products at cost, parking space, and many other perks.So far, we have sold 7 of these lifetime memberships, with the other 3 going soon.For a gym owner who has been in business for a while, this is a fascinating way of raising capital to fund your next gym without going into debt.Tune in to learn more details on how we did it and how you can implement it in your gymKey Takeaways- We are rebranding our facility (02:09)- Selling lifetime memberships (03:51)- Why clients bought the lifetime offer (06:24)- How to raise capital for your next gym (08:34)- Financing without going into debt (12:57)- Future pacing- selling the vision for the future (13:12)Additional Resources- Learn more about our Coaching Program for Gym Owners  - Learn more about The Iron Circle - Grab your tickets for 2023 FitPro Growth Summit  Use Code WORM for 25% Off- Business Talk with Fitness Professionals Facebook group ---If you haven't already, please rate and review the podcast on Apple Podcasts!