CoachBot Video Transcripts

Welcome to Gym Launch.

My name is Kale Owen. I'm the CEO here at Gym Launch Prestige Labs and gym owners.com. And I want to personally welcome you to Gym Launch and I'm very excited to have you on board. Before we get into any of the lessons, which we will very shortly, I just want to go over a couple things about who we are here at Gym Launch, our core tenants, and what it means to be a gym Lord. So our mission here at Gym Launch is very simple. We want to help gym owners just like you, reach more people, change more lives, and build wildly profitable businesses. The change we want to make is for you to become wildly profitable while going from a doer to a business owner. We want to provide such client-centric services for all of our gym lords that they insist so much so that their friends partner with us.

We want to break your beliefs around what is possible in a fitness business and teach you to start thinking like million dollar gym owners. We want you to fall back in love with your clients while experiencing the freedom that you wanted when you first started a business. And we will help you by transforming you into not only exceptional business owners or an owner, but a leader who is able to confidently build and lead a team to achieve your mission. We will put your needs before our ego and have solutions for problems before they appear. We will commit to failing fast and failing until we succeed, and then providing you with the solutions learned from our experiences. So you don't have to pay the ignorance tax that is the power of this community that you just joined. And lastly, by acting out of urgency and consistently aiming to exceed the expectations and needs for you.

Right? And we will know we're successful when we have built the sole infrastructure in the gym industry known for creating wildly profitable gyms. And 30% of our clients are referred by a gym. Lord, these gym owners feel immersed in our community, experiencing a sense of safety, generosity, and protection while working with us. We will be known for our consistent and superior experiences at every touch point. And you the average gym, Lord, preferably at your above average, but the average gym Lord will profit more than a hundred thousand dollars per year, eliminate debt, change more lives and achieve financial stability while having peace of mind for yourself and your family. We have six core tenants here at Gym Launch. I'm going to go through all of them so you understand how we think this is very important for us. This is how we show up. This is our behavior.

This is what drives our culture. Number one is do the boring work. We will do what our competition won't do. We will go the extra mile, right? We'll give customer service that is noteworthy and we will do it right, no matter the short term cost for us. In conjunction with that, we want to make sure that we are acting with speed because speed is king. Speed is the number one currency in business. Relationship speed is more important than perfection. And a good plan executed now is better than a perfect plan executed next week. The third one is be your own boss. We believe that we should hold ourselves to a higher standard than anyone else would ask of us. We have to manage our own time and resources, and we have to own our decisions and our outcomes, both the good and the bad. The fourth one is grow or die. Our goal here is

To be learning. We want to learn fast. We want to fail fast, and we want to try again. We want to stay ahead of not just the competition but everyone else around us, even if it's only just a few steps. And we believe that you are either growing, making progress or you're dying. There's no in-between. So we choose that we want to grow. And number five is don't sugarcoat it. You'll notice this a lot with the coaches, right? Our goal here is that we don't sugarcoat it. You didn't invest in this program to be told what you want to hear. You are going to be told and coached in a way on what you need to help you do what it takes to be successful in your business and to reach your goals. And so we believe the truth is best left untempered with, and that someone else's reaction to the truth is not our responsibility.

And it shouldn't be your responsibility within your own organization, right? You serve no one by not giving people the opportunity to improve. And this is so important for you as a business owner and as a leader. The amount you grow is directly correlated with the amount of uncomfortable conversations you are willing to have. This becomes more and more evident as you grow as a leader. And last, but certainly not least, the thing that drives it all is have humility when making a decision. Be concerned with what is right, not who is right. Hire and promote with humility. Fire for ego and pride. In order to grow, you must admit you have deficits. And congratulations. You have already admitted just by signing up and joining this that you do have deficits and that there are things that you want to learn. So congratulations on having the humility to do that.

Acting with speed is king by signing up, by allowing our team to not sugarcoat it with you and let you know what we're able and capable of doing. And by digging in and just by signing up, you're already saying that you want to grow and that you're tired of where you are right now, being your own boss. You've made your own decision right now, you're ready to move forward. And now the question is, are you willing to do the boring work? That is the question, right? So a little bit about us, what we've accomplished, you probably already heard this, but I want to say this again because you're not just in some random group. This is a group that was founded in 2016 by Alex and Lela Hormo. We've served over 5,000 gyms and counting. We've worked in over 20 different countries. We have helped the gym industry achieve and add 1.5 billion in new fitness revenue through this program, through this program, 1.5 billion, that's with a B.

We've helped gym owners change hundreds of thousands of lives. And the average gym Lord takes home over a hundred thousand dollars per year. Our goal is way more than that for you. Again, half or above, half or below. But our goal is to make sure that the average is taking home six figures. Now, what does it mean to be a gym? Lord? What is a gym Lord? Well, a gym Lord is a member of our community here at Gym Lodge, right? Also a gym owner that is a part of this. A gym Lord is a gym owner that's dedicated to three things, reaching more people, changing more lives, and building a wildly profitable business. And I think that you would say you agree with all of these because your goal should be to do this,

Especially if you own a gym. And this is our goal here for everyone as a gym, Lord. Now I'm going to leave you with a couple things before we let go into the next lesson. What does it mean to be a gym? Lord? In this lesson, there's a download called the Gym Lord's Manifesto. In it, you will find what it really means to be a gym. Lord, please download that. Please print it. Please set it aside. Please study it. Please understand it. There's quite a few things in there, but I guarantee you that if you live by this code, you will have a thriving business that changes more lives than you ever thought possible. I'm not going to go through every single one of them right now, but please do that. And the reason why we put that together is these are the types of characteristics that and attributes that winning gym owners have.

So if you're wondering what does it take to be a million dollar plus a year gym owner, what does it take to do $3 million top line, take a million dollars plus home. What does it take? What type of person do I need to become? What type of business owner do I need to become? It's in that document. It's everything there manifesto to be a Jim Lord. Okay? And last but not least, I'm going to leave you with this quote by Alex Ramzi. You don't become confident by shouting affirmations in the mirror, but by having a stack of undeniable proof that you are who you say you are, outwork yourself doubt. If you ever get into a point where you're wondering, man, I don't know if I can do this. I don't know if I can raise my prices. I don't know if I should follow what my coach is saying. Listen, the only way to prove that you are who you say you are is to outwork your self-doubt. It's not by saying words, not by anything, it's by taking action. And so the gym owners that take action are the ones that win both short term and long term. So congratulations again on making amazing decision to join an incredible community of people who care about you and want you to grow. And now let's get into a little bit more of the training as we get going.

How to make your gym wildly profitable. Step one, what gets measured gets managed. In this section, we're going to talk about data very quickly, and I'm going to show you a very simple software that you can use that we have spent a lot of money developing that will allow you to track the right metrics for your business so that you can make the right decisions because it's very important to make the right decisions, but we can't make the right decisions unless we have quality data, and we also need to have decision-making principles that are high quality as well, right? And so if you think of wanting the equation that it takes to create quality decisions or lack thereof, you got to think about it on the top line. You've got, you need to have quality data, you need to have quality of decision making principles, right?

So you multiply those together and then you divide that by the amount of emotions and personal noise you bring to those decisions. If we can diminish the emotions and personal noise and really just increase our quality of data and the quality of our decision making principles, we're going to get better decisions. That means our decision making will increase, meaning you will have more clarity and understanding to know exactly what you need to do inside your business. This is very, very important for you as a business owner. It's even more important for your coach to understand all of your data so that you can bring this data to your coach so that they can help you make better decisions. They already have the decision making principles that we understand for gyms and what works. Time and time again, we know how to make great decisions. What we need is the data.

And if you go to your coach without data, without numbers, without metrics, they can't help you. Very similar to how if you have a client coming to you that wants to lose weight and they're not tracking their weight, they're not tracking what they're eating, they're not tracking anything, they're not tracking their steps, working out their inputs, their outputs, none of it. How are you going to actually be able to make a difference consistently over time with that client? At some point, you're going to have to track their data, and as a business owner, you have to because you're dealing with money here and you're dealing with your livelihood and your family's livelihood. So really important that we are tracking our data. So the question then becomes is what should you track? Well, on the acquisition side, when you think about lead generation, lead, nurture, and sales, you need to be tracking your ad spend, the number of leads you're getting on a monthly basis.

Your ad spend typically can be on a daily, weekly, or monthly basis. Just understand how much you're spending per day and per month. You want to know the number of leads that you're getting on a weekly and monthly basis. You want to know what your cost per lead is, so your lead cost, you want to know what your scheduled appointments are, how many scheduled appointments are coming in for sales, and what your percentage rate is. So what is my scheduled percentage? You want to know your showed appointments, how many actually showed to a sales appointment and what that percentage rate is. You want to know how many sales you've made. So let's say I have a hundred leads. I have 50 people that have scheduled, so I have 50% schedule rate. I have 25 people that showed, that's 25 people out of a hundred, so I get a 25% of leads that are showing up, but I have a 50% show rate of scheduled appointments, and then I closed 12 of those, so roughly 50% of those I closed. You also want to track what you

Sold them because hopefully you're selling them primarily higher ticket offers that we're going to teach you, but you still want to track it so you understand where you're at. And then you also want to track how much cash is collected at sale, whether it's $600, $2,000, $5,000, a hundred dollars, doesn't matter. You want to track how much cash is collected at sale. This will lead into understanding what is your return on ad spend, knowing how much cash did I collect versus how much did I spend to get that money? You want to know your percentage of leads sold. So in that example, before you have a hundred leads and you sold 12, that's 12% of leads sold, which all leads into your cac. You want to know how much it costs you to acquire a new customer on average. It's going to take a little bit of time to understand and get the right data for this and the right amount of volume to get a true average, but this is the number that you really want to understand because the more that you know this, the more you're going to really be able to make better decisions and your coach will be able to help you a ton here.

Okay, on the fulfillment side, we want to understand challenge conversions. This is when you use our offer, the six week challenge, or if you use some sort of trial or whatever, these aren't technically reoccurring members yet. They're not what we would call EFD members at all. They're actually trial members. They might be a challenge member, a trial member, it doesn't matter, but you want to track their conversion rates. So if they sign up for a challenge, that's the sale part, but then once they're in the challenge, how many of them actually convert into a reoccurring membership and what's the percentage rate? And this is of net starts, meaning you might sell 50 challengers and two back out before the challenge ever starts. You have 48 people out of those. How many converted into an EFT membership? You want to track on a monthly basis your EFT churn that includes cancels and failed payments.

You want to track your number of active paying members. You should know that at all times. You should check that every single day. You want to know your net new clients every month, so your EFT conversions minus your EFT churn, so the inputs versus the out, and then you want to track your LTVA very simple method here is what is my monthly average EFT divided by a three months average churn. So if my average EFT or the revenue that I make per month per member on average is $120 and I have had a 10% churn on average for the last three months, you do 120 divided by 0.10 or 0.1, and that equals $1,200. So you have an idea of kind of what your LTV is. There are more in depth ways to be able to do this, but this is a very simple way to get a quick snapshot of where you're at, and then there's more here.

Another one that you want to be tracking is net revenue. So your total revenue received, this is minus fees, refunds, chargebacks, anything. What is net revenue? Then you want to track your expenses. So all costs including reinvestment into businesses. So if you reinvest into the business, that's still an expense. So for the purpose of ours, we call that we include the investment into that. This will give you your profit, so your net revenue minus expenses, this is very important for you. If you are not on payroll, you need to put yourself on payroll for a fair market price for being a general manager or owner if you do not have yourself on payroll, okay?

This has to be included in the overhead in your payroll. The typical thing would be anywhere between 30 to $50,000. We prefer if you start 30 to 40,000 because then you can take a draw on everything else. Now, this might depend a little bit on how you're set up from a corporation standpoint, but on average for most people, you're going to be 30 to $40,000. Next, you'll track your profit margin, so it's profit divided by net revenue, your refunds. You want to track all your refunds and percentage refunded, so refund dollar amount divided by total revenue. These things you want to track because you want to be able to understand what's happening inside of your business, and you need to be able to give this to your coach. Now, how do we give this to your coach? Well, we made this simple for you. We spent roughly a million dollars to build you a revenue intelligence software that can track the majority of those numbers for you on a weekly or daily or monthly basis.

We prefer weekly, but this can happen for you, okay? The software is called Gym dash by gym owners.com. It's what you will use to upload your business data into on a weekly basis. So you will go to your account on Jim Dash, and you will upload your data on a weekly basis. If you want to do it daily, by all means do it daily. You'll just get more better data on it, but at worst, do it weekly, and you will upload all of this and your coach will have instant access to this, so they will be able to see this. So you won't have to always show up with more data. They might have questions to dig into the data, but this is where you'll track it, and it's super important because your coach will need this information in order to coach you. They can't coach you to actually move your business forward if you do not have this. So in order to set up your account, which is completely free, by the way, go to gym dash dot gym owners.com/signup. The link is also in this lesson here. I want you to go ahead and not move on yet. Go ahead and set up your account now so that when your coach shows you how to use it down the road, you already have an account. Go ahead and get that set up and then we'll move on to the next lesson.

Okay, let's talk about right now in the future, okay? What your gym should and will look like. We're going to go over a couple different things here to set the tone for moving into how you're going to execute on all this, but we're going to go through and give you a snapshot of what your gym will look like. Okay? So if you are a large group facility, let's talk about pricing basics. So if you're a large group, which means that you can have at least 16 people in a session at a time. So your cap is at minimum 16 people, but preferably more. If you're less than this, you're kind of in no man's land. And my suggestion would be is you just switch to a semi-private facility. Your coaches will help you with this if you need to. You're just not going to make the margins that you want to if you are in the 10 to 15 range, just not going to be enough people at the price point.

And you'll be charging too much with that many people to have value and you'll see higher churn. So it's better just to do four on or six on ones with semi-private and just charge more, make more, have higher margins than try to squeeze people in or try to maintain 10 to 15 people per session. It's not going to work. Okay? So your pricing 5 99 minimum for the six week challenge. So that's minimum 49 a week, EFT for 12 month agreement with a 60 day cancellation. Really important right now. Every new person since signing on the dotted line and joining and becoming a gym, Lord, from now on, here's the best part. You don't have to change your pricing on all the old people yet, or your OGs. You don't have to do that. But every new person coming in, guess what? Your prices just went up $49 a week.

They sign a 12 month agreement with a 60 day cancellation, and this should be the minimum that you charge per week. This is per week. But here's the deal. You're going to tell them that it's $49 a week. We just bill every four weeks. So you bill every 28 days, not monthly. So important, don't do it monthly. We'll get into this in the profit levers later on. Just understand that by billing every 28 days versus monthly, you'll add 8% to your top line and that will flow to your bottom line as well. So it's massive. Okay? Another way to put this is let's say you're billing an EFT $10,000, or let's just say $20,000 in EFT every month on average. That means you're going to make an extra $20,000 at the end of the year because you'll get another billing cycle by doing it every 28 days.

Okay? Next one, paid in fulls for challenge conversions. So when they convert from a challenge into a membership, you do it at 10% discount off the total price. So you take 49 times 52, and then you get 10% off, and that's their price. If they want to pay in full after the challenge or halfway through the challenge for semi-private six max per session, that's what we deem as semi-private. Semi-private is not 10 people, it's six or less. 1299 minimum for the six week challenge, one 19 a week minimum. I'd prefer you to be at 1 49 a week for a 12 month agreement, but you're going to bill every 28 days. Same thing. Same thing happens. And then same 10% discount if they want to do a paid in full when they go to convert into a member. Alright? And some of these things, I get it, you may not understand what I'm talking about.

Don't worry. We will get into this in the training. Just remember these things when we get into this. Okay? Now, payroll basics. These are examples only. You're just going to have to make sure that you look at your local area laws as well as rates that are going around. But trainers, in our opinion, unless you're in a super urban area like New York City or LA like downtown Chicago, somewhere else, sometimes Miami, you may need to pay people more. But typically what we see is 15 to $25 per hour for large group and semi-private. You do not need to charge more for semi-private, let me repeat that. You do not need to charge more for semi-private or you do not need to pay more for semi-private. Okay? And the reason for that is what's easier to train a group of 20 people and having to manage 20 people or a group of four people?

Which one's easier? Four people all day. Why am I going to pay 'em more? The only time you're going to pay 'em more is if they're actually doing sales or they're doing programming, which even then I wouldn't give away a ton of the money there. It's just not worth it because at the end of the day, unless they're doing above and beyond, going above and beyond and doing other tasks, don't pay 'em more. Okay? You're just going to lose margin on this. And again, location matters on this. So sometimes if you're in places you might have to pay more. Now, sales, 12 to $15 an hour plus, they're going to get a $30 commission for a challenge sale. After all cash is collected. So this will incentivize them to collect the full 5 99 right at the point of sale, rather than dropping down and doing split pays.

Okay? You'll claw back commissions if the cash isn't collected or if there's refunds or chargebacks. It's really important. Claw back to commission. Otherwise, if you have to give a refund to someone, they paid you 5, 9, 9, you have to give them a refund, but you are not doing clawbacks, you lost $30 on that, not including the cost to acquire that client. Okay? So make sure you have this set. $70 commission for weekly EFT conversion from the challenge. So when they go to convert someone, this sales person who sold 'em on the front end will then do the week three conversion meeting. They'll meet and they will then actually convert them into a long-term member. If they do convert them, it's a $70 commission for that. So they can make a hundred dollars from someone in three weeks. Okay? Now 5% if they p in EFT at the conversion point, it's 5% of cash collected.

So whatever's there, and same thing, clawback commission, same thing. If they exit within the first 90 days of conversion or charge back a refund, you got to claw back the commission. And then last but not least, 25% of supplement commission earned not revenue. So with Prestige Labs, you're looking at, if you're in tier three 40% commissions, the only one that doesn't is protein, which is across the board. Doesn't matter what tier you're in, but when it comes to the sales aspect of this, you want to give them 25% of the commission earned, which turns out to be roughly 10% of commission. Okay? So remember that. Don't do 25% of revenue sold. Okay? Admin, 10 to $15 an hour. They're usually working 15 to 20 hours per week. A retention manager, and we'll get to when you will have these and why in just a second.

But retention manager, 15 to $20 an hour, they'll do 20 to 40 hours per week depending on the size of your gym and the needs lead, nurture specialist, 10 to $20 per show. General operations manager, so general manager or operations manager, whichever you'd like to call them. They can be anywhere between 25 to 30 hours per week, or you can give them salary. More of a GM status. This is when you are kind of out of the biz and they're managing everything. Give them a salary plus a profit share. Okay? Now let's go over some important benchmarks here. First one is a 30, 40, 30 rule. Your goal is to have 30% of your revenue go towards payroll owner, salary included. If you're not on salary, you should put yourself on a reasonable salary for yourself. Usually what we would suggest is somewhere in the 35 to $45,000 range, okay?

40% of revenue will go towards expenses, excluding payroll, and then 30% of revenue is profit. That is the goal. That is what you're shooting for. If you're not there, no worries. Our goal is to get there. Okay? Next thing, a hundred dollars a day ad spend, minimum. Okay? Minimum, you're not going to grow unless you're spending a hundred dollars a day. And don't worry if you spend a hundred dollars a day, all you need to do is sign up two people a week and you more than cover your ad spend. So you do not have to worry about that. Okay? Next one is that your goal is to have 10% of leads sold for every a hundred leads you get. You're selling 10 people into the challenge, alright? One way to be able to get there is 40% schedule, 40% show 60% closed. You can hit that any way you want.

You could have 50% scheduled, 40% show, 50% closed, or whatever it is, as long as you make sure that you're getting 10% of leads sold. Your goal is 75% close rate on supplements. Again, we're going to give you all the stuff to make this as easy as possible for you. We'll give you literally the scripts, the words to say the presentations, everything. 50% conversion rate at the week three, in my opinion, this is rock bottom. If you're doing less than 40% conversions, there's a massive problem with your fulfillment and you are skipping a lot of steps. You are not going to grow at the rate that you need to at 50% conversions. It's just not going to, because your goal with all of this is to grow your gym. You don't want to just become a place where you sign challengers up and then they turn out.

You want to build a place where you are going to provide exceptional service and people want to stay. And when done correctly, you will skyrocket your EFT your reoccurring revenue by following this model. But your benchmark is at minimum 50%. I would prefer it to be somewhere in the 70 to 75%. Next one is all sessions are covered by trainers. That is your goal is to get to that point where all sessions are covered by trainers. You should not be on the floor. 80% gross margins on all sessions. We'll get into this when we get into profit levers later on, you'll understand this, but you want to be running those margins on all sessions. You have less than 8% a month churn for large group. And if you're a semi-private, less than 3% a month churn for semi-private. Okay? Now, let's talk about when and who to hire some basics around this so you understand it, because I want to set some clear understanding around you should not try to grow too fast when it comes to payroll.

It's just going to eat away from your take home, okay? And when I talk about this, when I give the numbers, I'm talking about an EFT only revenue. You're going to make more money from the challenges. But when we're thinking about this, our goal is to create a business whose expenses all expenses including payroll and all other expenses are covered plus more by your EFT reoccurring revenue. That is our goal. So that any cash collected on top of that is just gravy and it's extra money in the bank for you. Okay? So it's zero to 50 members, which is somewhere between zero to 10 k and EFT only revenue at $49 a week, which for you, it might be a lot less if you're charging less than $49 a week. But if either way, it should be the owner, you and one trainer for the evening sessions.

If you're a semi-private, you can have two trainers here because you'll be making more revenue per client. But those are the only two people in the biz, which means if you're the owner and you're watching this, congratulations, you're where I was. You got to just dig down deep. And just like so many other gym owners that have been with us, you just got to dig deep and you got to hustle, and you got to do everything outside of training those evening sessions when you're in the 50 to a hundred members. So anywhere between 10 K to 21 k and EFT only revenue at $49 a week, you got yourself, you got a trainer for both morning and evening sessions. So you should be completely off the floor by now. And if you need backups, have one to two backup trainers available for sure. But remember, you're only paying for when they're on the floor, right?

When they're actually working. And then you're going to need a lead nurture specialist if you're not using our done for you system, which if it's not live yet, it will be soon. But you'll need a lead nurse specialist, and you'll need an admin at this point to take a lot of things off your plate so that you can focus on the revenue driving things such as sales, sales, sales, sales. And when you're at a hundred to 150 members, you're looking at owner, you're going to have trainers to cover all the sessions. It's usually three to four. You may have more backups if needed. You're going to need a retention manager, because now we're getting to a point where it's really hard to remember everyone. And so we really have to hit and make sure that we're not churning people out. So retention manager who, and the retention manager by the way, will monitor and manage both the challenge and current clients.

So you need both covered admin, lead nurture specialists as well. Okay? When you're at 150 to 250, you've got yourself, you've got trainers to cover all the sessions, retention manager, admin, lead, nurture specialists. And by now you can have a salesperson come in. Notice how a salesperson's close to last. And the reason why is because it's really expensive. Salespeople are one of the most expensive hires that you will have because a good salesperson is going to make you a lot of money, but it's also going to cost you a lot of money. And you as the owner, you can create a ton of profit by you being the salesperson, okay? And then at 250 plus members, you got the owner by this point, let's talk about a gm trainers, retention manager, admin, lead, nurture, specialist, salesperson. By now, if you're making this type of revenue, you're in a position where you don't have to be there all the time. You can have someone manage it for you. You just have to be monitoring it,

Leading the team, making sure that they understand the vision, tracking the stats, and still being a part of it. You just don't have to be there every day. You don't have to be doing the sales, you don't have to be coaching any sessions. You don't have to be managing anything. All you're doing is looking at reports, making sure things are moving forward, and then going in and fixing problems as they come up. And the next video, we'll talk through what your first four weeks is going to look like.

I dunno about you, but you're probably joining this program because you want to make money faster. I know I did when I first started as a client back in 2017, my gym was about to fail and I needed a way to be able to make money faster. I wanted to learn how to build an actual business. But here's something that you can do to make money on the side just by literally talking to other gym owners. That's it. And a lot of our business comes from referrals. And what I'm about to go into is one of the reasons why we built. Now, please don't refer unless this is something that has worked for you obviously, but if you have seen success with this, you found value in this and you think that this would be helpful to other gym owners, I want to reward you for doing that.

And my suggestion is do what we are doing with you and do this with your clients as well. And there's a simple way that you can do it. But here's how this works. If you know another gym owner that hasn't been a part of our community that you believe would find value from what we do, just like you have, I will give you $2,000, $2,000 for every referral you send our way that joins this community, okay? $2,000 cold hard cash, have it ready for you. Okay? Here are the requirements for this. They just can't be a previous client. We have lots of clients that maybe switch gyms or seller gyms, start another one. Whatever might be, you might be a previous client yourself that come back and just can't be a previous client. You have to connect the referral. So the person that you want, connect the referral with the salesperson that got you set up and make sure that that referral names you as the referrer.

The way to do that is very simple. We call it a hinge text, right? So you're going to have the text message with the person who sold you and you are going to message them and connect them in a three person text message with the person that you're referring. Obviously you want to warm that referral up, you want to let them know what's happening, pass 'em on to our team and our team will take care of the rest. Once that person that you referred has paid us $4,000, our team will reach out to you to get you your well-earned referral bonus. So once they pay us 4,000, we'll send you $2,000. All right? There is no limit to how many referrals you want to send us, and this is specifically for Inner Circle or our Health Club program. So if you have someone that runs a health club or runs a studio that you feel would find value in this, I want to send you $2,000.

In the past, we've had clients that have literally bought a new car from this. They have literally referred 50 plus people and made a ton of money. Our GM here at Gym Launch, Mike has referred, I think somewhere around like 30 plus people. So it's there. If you are well-known and you have a community and you just want to make some free money just by having a conversation and sharing something that has worked for you, this is an amazing way to do it. I know I did it when I was a gym, Lord. In fact, I actually referred someone that was right down the street from me because I knew that there was plenty to go around. I referred them, they grew their business, they crushed it just like I was. And there's plenty to go around no matter what. There's always a ton of people everywhere. So

If you know someone that would find value in this, I want to pay you for just saying a couple words, letting 'em know and connecting with our team. So if you want to make money faster, this is a very simple way to do it. So if you think about it, if you do one referral a month and it stacks up over the course of time, if you know those gym owners, you can almost pay for most of your ad spend every single month. Or you can just take that socket aside and just save it for a rainy day. But either way, I want to make sure that you are well taken care of. So as always, do the same thing we're doing with you right now and just do the same thing with your clients. Offer them cash for referrals. Typically, the way you want to think about it for any of your referrals, for your clients is how much does it cost you to acquire a client? And you want to just match that because it would be the same as if you ran Facebook ads or did anything else, and you can just give them that cash instead of giving it to big media. So hopefully that helps. I really look forward to seeing you refer people. Enjoy this, and I would love to send you $2,000 in cash.

Okay, where should you go? If you have questions, let's rock this out. Okay. Depending on your question, you should go to different places. So first one is coaching questions. So anything that's not ad related, technical go high level or billing related, you can message your coach directly here within the Mighty Networks app. You can also email your coach directly at their first dot last name@gymlaunch.com. So if it's, let's say it's Ryan Carson, so ryanCarson@gymlaunch.com. Alright, billing questions. If you want to change your billing type or all other questions around billing, just simply email billing@gymlaunch.com and they can take care of it. Okay? One thing to understand too is with coaching questions, when you reach out to them, they're going to answer within 24 hours. Their goal is to answer as fast as they possibly can. But please understand too, on the weekends they may be a little bit slower.

They also have families and they have kids and they have their lives as well outside of this. So they are not 24 7 support when it comes to coaches. So please understand that our billing team is also the same way. They're working Monday through Friday. So if they don't get to you on the weekends, please understand they'll get to it first thing on Monday. Alright? Same thing with Tech Agency questions. Add Tech or GHL or general support questions. You can go use the support tab here in Mighty Networks. There's a support tab. You can also email support at support@gymlaunch.com. Alright, and last but not least, supplement questions. So this has to do with Prestige Labs at any point if you have Prestige Labs questions By now, if you haven't had your first call or your second call, you're going to set up your Prestige Labs affiliate accounts completely free. But if you ever have questions about anything that's happening inside of your account, you can email support@supportprestigelabs.com. And you can also use the chat support feature within your affiliate account@affiliate.prestigelabs.com. When you log into your affiliate, there's a chat support available on that site as well. Okay, so my suggestion be if you want to take a quick screenshot of this so you understand where all this stuff is, and then just remember where to go when you have questions. Alright, in the next section, we'll start going over the fast cash play.

Introduction to Cash Injection Plays

Let's get into fast cash play. Alright, so let's go over the basics right here. So Fast Cash is what we call a paid in full for a year membership offer that you will make to your current clients. Very simple. Alright. This PIF offer is used to create a fast influx of cash to your business that will be used for three things. Number one, it's cash to start running ads. You don't need an exorbitant amount, but it's always nice to have cash to do it. The other one is cash To invest in getting your team onboarded with Prestige Labs, using the products which you'll purchase on their behalf. And we have a great offer for you is basically buy one get one free. So every stack you buy for that for one person, you get another one completely for free. You get paid commission on all of this up to 40% commissions for the first 90 days.

And all of this is what's used to then turn this Prestige Labs opportunity into both short-term and long-term profit. Because we started Prestige Labs with the focus of giving gym owners the opportunity to provide exceptional supplements that actually work for their clients. And while doing so, being able to create massive profit for themselves to the point where we paid out over $20 million in commissions to gym owners since 2018 and that number is still growing. So it's an incredible opportunity for you. And the first step is getting your team on board and we'll walk you through exactly how to do it before you ever move forward with doing anything else after that. And then we have your first internal play is to actually release PL subs to your current members and have them take part in an internal play and be able to make money off of this, which is huge.

Okay? And then the last reason on this is cash on hand. For your business. It's always good to have cash on hand. Alright, number three is you can use this play up to two times per year. When we talk about the basics, you don't want to use it more than that typically is you want to do it at Black Friday, it's a great time to be able to do it. And then you also have it another time during the year. Number four is you don't want more than 20% of your clients to be PIF clients. This will eat into your reoccurring revenue. And what we found is that if you go over the smart, you run into this cycle of always having to sell new people in. So you want to be very careful with this. Another thing with this is this play takes no more than 10 days once you start it, but most Jim Lords fill their spots by day seven or sooner, and the average one makes over $15,000 when they do this. So this play really, really works. So we want to make sure that we have you set up and in this play we'll go through everything that's needed to do this. Okay, so in the next video we'll talk about the offer itself.

All right, let's go over the fast cash offer. It's very simple to make your offer. You will need four things before you go live. You're going to need a price for it. You're going to need a value stack for it. It's a lot easier than it seems. You're going to need a reason why, and you're going to need a sales goal. You do not need to overthink any of these. Can be as simple as just literally telling people it's your birthday and adding one extra or two extra things to it, setting your price and then just knocking it out of the park. You don't need a ton here. This is why we literally call it fast cash, because it shouldn't take you more than really maybe an hour to set all of this up. Maybe less, but no more than an hour to get everything done and actually send out your first email, everything else, and get it all scheduled, so it's not hard at all.

All right, so let's talk about price first. So there are two options that you can offer. Option one is 20% off a year paid in full. This option is if your rates are currently more than $150 per month. Okay? If you're charging more than $150 per month for large group training, you can do 20% off a year. If you're already charging more than, I would say $300, $350 a month for semi-private, you can do this as well. Now, option two is you buy 12, so buy 12 months, get one month free. This one is if your rates are less than $150 a month. Currently, you want to offer this one because you don't want to be given 20% off. You actually want to just give them one month free, and they're going to know that this is the offer when you write all the copy and everything else.

No sales involved with this. When you run this play, it's all included. So the sales here is super easy, but all you need to do right now is just choose your price. So if you currently charge more than $150 a month, you already know 20% off a year. If option two is the one that you're going with, you already know. So get that set. Then figure out what the actual total price is. Write it down right now before you move on. So pause this video, write down how much it's actually going to be. Do the math, write it down so you have it on your notes, ready to go. Got it. Okay, cool. Now let's move on to number two. The value stack. Any exceptional offer has a value stack. Basically a list of bonuses a buyer will receive access to upon purchase. Your goal is to add bonuses that don't cost you a ton of money or time, if any at all.

I'm not saying you should just add in personal training sessions for free or anything else. What I'm talking about is how can we offer things that aren't going to cost us a lot of money and give us an opportunity to just add on extra bonuses to give the people a reason to purchase this. Here's some examples for your T-shirt or swag. The goal with this is maybe you have a unique set or maybe you want to go out and print some. You don't need to. In fact, I wouldn't do that, but if you have swag or shirts, you can give it to 'em. It could be a water bottle, it could be a sweatshirt. Anything else. You could also do a free one-on-one nutrition or goal setting meeting. If you do this, this is great. Schedule it out to after you do your coaches challenge and you know how to do these because then you'll be able to actually sell them supplements. You could give them free products, maybe supplements if you have any in

Stock currently. You could do a seminar, give them access to a seminar. You could give them access to internal challenges, like a six week transformation challenge bolted on to what they have. You could also do something like client experience. Like for this group, we're going to do a hiking or cooking class or go out to a baseball game or a local event, whatever it might be. But think of some things that you can do that aren't going to cost you a ton of money and are going to be something that would be of value to the people at your facility. Number three is you need a reason why. So every exceptional offer includes a reason why you're making such an incredible offer available. You need to create a client-centric reason for why you're running this PIF play to your community. Otherwise, they're just going to be like, oh, cool.

Okay, well, why should I take advantage of this? Well, it's really important that when you make your why, it's not about you or material things that you would like. For example, this would be a terrible reason why we're offering this to you because it will allow us to get more bumper plates and pay down debt. No, that's terrible. They care about what's in it for them. Okay, so a better one would be to do something that ties it to your client success and providing a more valuable level of service. Here's an example. Running this special offer, because our goal is to continue to provide a higher level of service for our clients. By taking advantage of this offer, you'll support the efforts for us to invest into things like investing in a high level nutrition coaching, and even an app that will allow you to follow your program no matter where you are in the world.

That could be an example, or it could just be as simple, literally as simple as saying, it's my birthday and I want to extend opportunity for everyone to get a massive discount for a limited time. It's only available to X amount of clients. Okay? Literally, it could just be that simple. It could be an anniversary, it could be anything. There needs to be a reason why it just can't be about you in regards to, I want to buy more equipment, or I want to get out of debt. Obviously, you would never do that, but you'd be surprised. There have been people that have tried to do that before and it hasn't worked as it should not. Number four is a sales goal. You need to set a sales goal. So earlier we talked about how you shouldn't go over 20% of your clients being a paid in full client, so we need to set a realistic sales goal that caps your sales to protect your reoccurring revenue, because when you get over 20%, what we found is you get into this rut where your reoccurring revenue doesn't actually stack as fast as you need it to, and our goal is to create reoccurring revenue and build that to where every single month you know that you have a certain amount of revenue coming in, and PIFs take away from that.

Okay? So all you need to do to figure out this whole thing in your number is you need your total active paying clients right now, times 0.2, okay? Minus your current PIF clients, and that will give you your fast cash sales goal. For example, if you have 120 active paying clients right now, 10 of them are currently PIF clients, you would technically do one 20 times 0.2. That gives you 24 minus the 10 that gives you 14, okay? You could also just do it as simple as just minus the PIF clients and do one 10 times that, but an easier way is just total paying clients. You already have your PIFs. This gives you 14 new PIF sales as your goal, because you want to make sure that your current PIFs are included in that 20%.

All right, so now your sales goal would be in this scenario 14 new PIF sales. So what I want you to do right now is I want you to pause the video and I want you to go figure out what your 20% mark is and what your sales goal will be, because from there, then we'll move on to the next video and we'll talk about exactly how to launch this.

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