Financial Reporting: The Only Key Indicators?

Written by: Ron Poliseno, VP Of Sales

All too frequently, gym owners, operators and managers focus solely on the financial data membership management systems provide. The fact is that, in addition to financial reporting, these systems can contain a plethora of actionable information that will provide deep insight into the health of your business.  In this article we will provide you with a series of non-financial reports that you should analyze on a regular basis to address common challenges around revenue loss and yield management both critical performance indicators in a well-run operation.

Alerted Check-In Report

The alerted check in report is one of the most important reports that clubs should run. Not only is the front desk your safety net in collecting payments but, it is the single point inside your four walls where your staff are engaging with your customers. This report can be scheduled to be delivered to your inbox each day and will alert you of member birthdays, unauthorized access attempts due to nonpayment, freeze and other account issues such as an expiring card on file. Check-in reports are critical to better manage member relations and loss prevention while also giving you insight into your staff/member engagements and front desk operations

Top Spender Report

As with any business, gyms need to understand who their most valuable customers are. The top spender report not only provides you with that data so that you can acknowledge these members, but also insight into the products and services that you might proactively market to your broader membership base.  Additionally, it is well established that keeping your existing members, particularly those who contribute to non-dues revenue, is a lot easier than capturing new members.

Members Without Photos/Signatures Report

Do you know if the  person checking into your facility is the one paying?  Are multiple people using the same key tag or other non-individualized check in product?  This report identifies members who do not have a photo on  account, which will in turn allow you to place an alert on the member record.  New revenue is a wonderful thing, but it is as or more important to get every dollar the club is supposed to receive and eliminate any form of loss. Hand in hand with this report is the contracts without signatures report which is your silver bullet when fighting consumer chargebacks and your protection against liability. This report provides a list of any eContracts (paperless contracts) where the signature capture device was not engaged and ensures that members can be alerted at check-in to sign the appropriate forms.

Appointment Detail Report

Are all of your class and trainer appointments recorded in your scheduling application or on your appointment sheet?  Are your trainers being paid directly by your members?  Are sessions being recorded even if the member cancels or no-shows?  What are you using to manage loss in your PT department?  This report provides the detail of what should be occurring throughout the day.  Your PT or General Manager should be looking at this report regularly to prevent loss and potentially fraud!  

We as owners/operators are at times solely focused on member joins and cancels in our daily business; and while this is very important, there are other pieces of information that can help with member attrition and loss.

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