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Beat the October Money Pit5 min to read

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Beat The October Money Pit
22
Oct
Cat Weeden Circle

By Cat Weeden

Published October 22, 2018

Beat the October Money Pit

As we kick off the new season, the excitement of finished routines, uniforms arriving, new bows and impeding competitions is in the air.

The kids are pumped, the parents are starting to see it come together, and the coaches know that every practice were one step closer to the routines of our dreams. Everyone is so excited, except the front office/ownership of the gym!   Because October = Money Pit month in Allstar cheer

Competition deposits are due NOW, new/Fill-in Uniforms need to be paid for yesterday, teams are practicing extra, which means payroll is higher than normal and we are getting just close enough to the holidays that payments are coming in late/delayed.

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This time of the year can be very overwhelming if you choose to let it be.

This time of the year can be very overwhelming if you chose to let it be. I challenge you to rise above the October Money Pit and stabilize yourself financially by creating additional income streams within your gym. Semi-Private Lessons, Parent Fitness Classes, Birthday Parties and Gym rentals are all great, fast ways to increase your gyms income.

Beat The October Money Pit

Semi-Private Lessons

Find any 30 minute to an hour holes in your coaches or your schedule. During those open times set up a 3-4 person lesson at $10-15 per kid. If staff work it, pay them their regular wage during the lesson. Make the Lessons skill specific (Backwalkovers, Back Handsprings, Tucks, Jumps, etc).  If you can put 4 of these in place your gym could bring in an additional $200 a week.

October Money Pit 3

Parent Fitness Classes

Everyone has that one coach that loves to condition the kids, and is very enthusiastic about fitness. Let this coach spearhead your coaches fitness class.  Set up 1 hour long parent fitness classes at your gym.  Charging a nominal monthly fee ($20-30) for a weekly class, and placing the class during practice times ( when parents are already at the gym) works great. If you offer 2 classes a week, with 5-10 participants in each class the gym could be looking at an additional $200-400 a month

October Money Pit 3
October 5

Birthday Parties

If your gym is not already offering birthday parties, you need to start immediately! Whatever equipment you have now is enough.  If you have a trampoline, tumble tracks, a pit, or inflatables even better! Parents of young children are always looking for safe, fun, inexpensive places to host parties. 2 hours, 1-2 junior staffers @$25 per party, a couple tables, some music and games is all you need to successfully operate birthday parties in your location. Create a flyer to post on FB, Instagram and to send to your gym kids is a great way to start.  1 birthday party a weekend can bring in an additional $700 a month

October 9

Gym Rentals

Depending on your location, you may have an influx of recreational teams, youth cheer groups or school cheer teams looking to get extra practice in. Practice space can be hard for them to nail down, especially as the weather turns colder. Reaching out to these groups and using organic FB and insta advertising can spread the word quickly. Charging a flat rate for a single rental, and a slightly discounted rate for multiple rentals. 3-4 rentals can bring in an additional $400 a month

October 9

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Semi-Private Lessons, Parent Fitness Classes, Birthday Parties and Gym Rentals take very little set up and financial investment on the gyms side, but can add additional steady income especially during this time of the year when finances are tight.

Take a good look into your weekly calendar, check to see where your coaches have holes in their schedules and implement programs that will help you stay financially free during Money Pit October!

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