Studio Software: What Savvy Business Owners Need To Know
With all the options in the market place, what does a savvy studio owner need to know?
Over the last 3 years, the number and quality of software available to you, the studio owner, has changed dramatically. From marketing and communication to scheduling and subbing, the opportunities these new tools bring can be a game-changer for your studio business growth.
A good tool improves the way you work. A great tool improves the way you think.
— Jeff Duntemann
1) There are many options
And, not every option will be the right fit for your studio business. As a consultant in this space for 10+ years, I know exactly how complex your business is. (Yes – your business is complex). You likely offer 3-4 different ways your clients can work with you from 1:1, small groups, large groups, with equipment, without equipment, streaming, on demand… and all of that without even taking the different instructors into account!
When it comes to selecting a software, be sure to check that it can support your business model
and everything you offer today (and want to offer in the future).
2) It’s an investment (not an expense)
It’s rue that the cost of studio management software can be more than you’d like. But consider this not as an expense, but as an investment (an investment is a spend that you make to generate more money, profit, opportunity or growth in your business).
For example, you might choose to invest in a new piece of equipment… say a new pilates reformer. That extra reformer will allow you to add an extra paying client to your classes which will bring a return in the form of additional revenue.
Your studio management software can do the same… when you use it to its fullest potential! See #4 below.
3) The next generation of studio management software might change the way you run your business
As software developers adapt to meet the ever-evolving needs of the fitness and wellbeing industry, so comes new ways of connecting with clients, selling your services and managing your team.
Some of the old ways of doing things happened that way because of limitations of the software available. With the new kids on the block, new opportunities are showing up for you to simplify your operations and still maintain the growth you want!
Many of these developments are designed with the ultimate goal of more revenue alongside more ease and flow behind the scenes. When you equip your studio with smart software that does the heavy lifting for you, everyone wins!
4) Your software does the hard work for you
Remember that new client that purchased an intro offer 3 weeks ago… did they come back? What about your lovely client who was coming 3x week before spring break and has dropped off the schedule? Between those 2 clients, you’ve just missed thousands in potential future revenue.
This is where smart studio management tools can help you – big time. When utilized effectively, those clients will hear from your business, get invited back and you will know exactly where they stand.
You can easily see which clients are high risk, what class is your highest earner and so much more. The right studio management software can earn you revenue even when you’re not in the studio and interacting with clients.
I’m a big fan of using these tools in a smart and savvy way – and I love the impact that they have on the business (and profit!).