We are approaching the 15 month mark of owning My Gym in Arvada, CO. With the year ending, I thought I would posts an update on how the business is doing. Just the other night, we reached the highest enrollment the gym has ever had with us as the owners. This was a huge surprise to happen in December when most gyms drop in enrollment during the Holidays. Our enrollment number has been "stuck" for awhile because just about the same number of people are cancelling as the number of people who are signing up. Here's a recap of our enrollment numbers:
October 2008 (when we became the owners) = 88 kids were enrolled
February 2009 (we had a huge open house) = boosted to 130 kids
April 2009 = 134 kids enrolled (our highest until now)
December 2009 = 137 kids enrolled
We are very excited, but still have a ways to go. We have 3 break-even numbers we track and follow weekly. The 1st break-even number of kids = paying the gym's bills. The 2nd break-even number of kids = paying the gym's bills and loan payments. The 3rd break-even number of kids = paying the gym's bills, loan payments, and personal bills (but still not taking a paycheck for savings). We are currently at break-even #2... paying the gym's bills and loan payments. We babysit for a wonderful family who has a 3 year old girl, Kate, and twin one year old boys, Riggs and Jackson. They are good friends of ours now, and babysitting is helping support our personal bills and needs.
We are hiring our first employee who is starting on January 11th. Her name is Chelsea, and she is transferring from a My Gym in Utah to go to school here in Colorado. YEA for being trained already!! We understand that an employee is an added expense, but we are so excited to have her help us! We have reached a point in the marketing part of our business where we feel we need to "spend money to make money". Chelsea will be on a bonus system for marketing where she will be able to make extra money if the gym makes money. We will have goals and rewards to work together towards and motivate each other. Our marketing push for 2010 will start right away with us having a booth at a Denver Baby and Kids Expo January 23-24 and then a huge open house at the gym January 30-31. Since Feb-April 2009 were the best months for us so far, we are entering into 2010 with our heads held high and a plan to double the initial enrollment of when we bought the gym with 88 kids.
I love this quote: "Always concentrate on how far you've come, rather than how far you have left to go." We are celebrating reaching break-even #2 in only 14 months, and we making our goal to reach break-even #3 really soon. Thank you for all your continued support, love, and prayers as we continue on our adventures and dreams! We are thankful for how far we have come, and we are excited for 2010 to bring even more successes!
