The International Health, Racquet & Sportsclub Association is the fitness industry's only global trade association representing over 10,000 for profit health and fitness facilities and over 600 supplier companies in 75 countries.

 

 



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Entries in InTouch (5)

Thursday
Mar232017

Consider Applying the Decluttering Movement Ethos to Your Club’s Data

This is an IHRSA featured post, brought to you by InTouch Technology

Lifestyle trends tend to be cyclical and short-lived, so it’s rare to see a genuine movement take on a life of its own like today’s preoccupation with “decluttering”: the process of discarding material objects to create a more pleasing living environment.

The most famous advocate is Marie Kondo, a Japanese-born author of several books about “the life-changing magic of tidying up.” She prescribes an almost spiritual approach to a less-is-more ethic by discarding the objects in your house that don’t spark joy or inspiration.

Continue reading "Consider Applying the Decluttering Movement Ethos to Your Club’s Data."

Click to read more ...

Tuesday
Feb282017

Watch for These 3 IHRSA 2017 Trade Show Exhibitors 

The IHRSA 2017 Trade Show will feature more than 370 exhibitors showcasing a wide range of equipment, products, and tools that stand to give your health club a competitive edge.

Watch these preview videos of three diverse exhibitors to get a taste for what you’ll see on the Trade Show floor March 9 and 10.

Impact Cryotherapy
Booth 567

Impact Cyrotherapy produces additional revenue every three-minute session, fits in compact spaces, and provides an invigorating wellness experience for athletes and fitness clients. 

Qualisys Sports Performance
Booth 2911

Qualisys’ full body running analysis features state-of-the art technology and proven scientific results, that lead to more satisfied customers and higher profitability.

InTouch
Booth 2431

InTouch’s sales and retention software provides real-world solutions to solve the communication challenges that health clubs of all sizes face. This year at IHRSA 2017 they’re bringing more member retention solutions with sales presentation, mobile member apps, and workout and nutrition modules.

Download the new IHRSA 2017 app to view a Trade Show floor map, schedule appointments, and make the most of your time in LA!

Wednesday
Sep232015

Best Practice: How Can We Calculate and Compare the Return on Investment?

The following post was written by Bryan O'Rourke and Dag W. Lee for our weekly Best Practices series.

Question: How can we calculate and compare the return on investment produced by expanding our current facility vs. opening a new one? 

Answer: Begin by calculating the cost of each investment. Make sure your figures are as accurate as possible, and don’t leave anything out. Miscalculating expenses could result in a poor decision.

Now that you have an idea of what each alternative will cost, determine what each will generate in terms of cash flow. Estimate the likely revenues and operating costs for each, and be meticulous with your calculations.

In the case of expanding an existing club, make sure you have a clear understanding of how you’re going to utilize the additional space, so you can create a reliable basis for estimating your net cash flow.

Evaluating the return on a new facility requires some additional analysis. If you’ve identified a geographic area, hire a professional to conduct a market analysis, projecting both demand and supply in that trade area.

For each alternative, you’ll want to create a best-case, worst-case, and average cash-flow forecast.

The next step is to use a net present value (NPV) calculation to determine which option is best for you; using an online NPV calculator will simplify the process. When doing so, it would probably be wise to use a higher discount rate for a completely new facility, as opposed to an expansion.

Finally, it’s important to think about your business strategy. Managing several clubs can be far more challenging than operating a single location. Take your time when weighing the options and deciding what you want to commit to. And good luck!

Bryan O'Rourke
Principal & Chief Executive
Integrus, LLC
Covington, Louisiana

 

Answer: You’re going to need to consider a number of factors—e.g., the market, local competition, growth prospects, cost of capital, and even macroeconomic factors—and then calculate costs, returns, and payback times for both.

With respect to adding space to your current facility: Do a return analysis on the cash flow differential based on two different scenarios: (1) running the club “as is” without any new space, but with the capital expenditures required for upkeep, and with the expected P&L; and (2) running the club, but accounting for the costs of the expansion, including expenses that might be generated by a larger space, e.g., higher rent, etc.

You also should account for construction downtime, and consider how you’d grow your membership with the extra space.

With respect to building a new club: I assume you’d close your old facility and move the business to the new location. Prepare budgets for investments and the P&L, as well as a balance sheet, for the new project, factoring in the costs of leaving the old site and moving to the new one. Calculate the returns on the 10-year cash flow, and then compare the returns.

Other factors to consider: Building a new facility will probably require significantly more cash; construction projects entail risks; and you may need to negotiate favorable contracts with a landlord.

In the final analysis, it’s crucial for you to understand your market and your position, and to have a good gut feeling about the path you choose.

Dag W. Lee
Chairman of the board
Intouch Technology
Vancouver, British Columbia, CANADA

 

 

Best Practices features answers from experts from both inside and outside the health club industry to thought-provoking questions on a wide range of topics. If you have a question you'd like answered, submit your question today

Wednesday
May212014

InTouch Technology, ABC Financial team up to offer faster synching

ABC Financial DataTrak and InTouch Technology Follow-Up Smart Match feature will now allow the transfer of leads and member data between the two systems.

New leads can be synched hourly and when one system has leads or members and the other does not it is automatically updated.

"ABC is the industry leader in billing and club management software and payment processing and delivering a highly integrated system provides our customers with a seamless way to enter, close and manage all their sales. Smart Match guarantees the highest level of accuracy by matching records in DataTrak to records in InTouch Follow-Up every hour. No other health club software has that level of integration with DataTrak," said Scott Johnston, founder of InTouch Technology.

The full press release can be found on www.prweb.com.

 

Wednesday
Jun052013

OMG! Text message technology for clubs

With most people not too far from their cell phones, InTouch Technology's new feature could make fitness clubs' sales departments' jobs much easier.

InTouch, which provides health clubs' CRM software, has created Follow-Up, a text messaging feature for sales and marketing for member retention, sales and marketing. 

With 98% of text messages opened and 84% responded to within an hour, accordng Neilsen Mobile, the InTouch technology could shorten the time it takes to work with a client.

For more, click here.