In this episode, Matt and Rick define and discuss the term table stakes and how to move beyond showing up to the table vs how to really differentiate your business. We will cover table stakes vs differentiators to help you be more successful in business.
“Table Stakes” is a term used in poker, meaning the minimum amount you need to get to a table and play a game. When we use the term in the personal training business, table stakes are the basic things they expect you to provide just to be in the fitness business. These are not the things that you need to differentiate yourself, but the things that you must do just to be in the game.
Table stakes are not what you would use to promote your business. Go beyond the minimum table stake requirements to provide extras that differentiate you from the competition. These differentiators are what you market and how you become successful.
Required Basic Table Stakes For Personal Training
- Clean Facility – Clients expect that your facility is going to be clean.
- Personalized Programming – Specific fitness programs and scientifically backed individualized programs.
- Injury prevention – Clients expect you have training to work around injuries specific to each individual.
- Customer Service
Differentiators For Alloy Personal Training
- Proper Assessment and Induction – Duplicable predictable assessment with specific programming for each individual. Programming that is easy to scale for all our franchises.
- Seven Core Tenants– Soft touch points that add extras to the customer experience to build deeper relationships.
- Structure of Sessions – Build the small community and customer experience.
After you set up the basic business table stakes, spend an inordinate amount of time on the extras. That’s where you’re going to really get meaningful results. What percentage of time do you think should be spent on the table stakes vs the differentiators? Once you have the basics mastered, you’re going to spend at least 80% of your time on the soft touches to differentiate you from competitors, build relationships, and get customers to stick around longer. Our clients come for fitness goals, but they stay around longer for the community and customer experience.
We have over 30 years in business, and 15 years of licensing 2,500 clubs to prove it. When you go with an Alloy franchise we already have the table stakes that give you the ability to get to the business table, then we partner with you to deliver the extra differentiators. Nail the basics, then you spend 80% of your time working on the extras. Nailing the basics will get you entry into the game. Beyond that, you’re going to have to put some extras into the care and customer service that goes above and beyond the basics.
Listen in to this episode as Rick and Matt give examples using Alloy Personal Training Franchise on how to go beyond table stakes to make your business amazing and customers stick around longer.
- What are table stakes in business (03:07)
- List of table stakes in a personal training facility (04:27)
- Beyond table stakes- The extras that set you apart (07:29)
- The soft-touch things that make personal training great (10:18)
- The amount of time you should spend on table stakes vs. extras (17:20)
- What makes customers stick around (18:59)
- Moving the needle in your business (23:06)
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