“Successful people aren’t gifted. They work hard on purpose and succeed.”

 

Last month I conducted a state of the industry survey regarding owners’ pay. I think a lot of our staff and the parents in our gyms might be shocked to see the results. As a gym owner myself, I’m not all that surprised by the results though. Why? 

 

I think it’s because I understand the struggles gym owners face. I can empathize with where others are, because for many of the situations I hear about, I’ve actually been there myself. 

 

For example:

 

  • 28.6% of gym owners don’t take a consistent paycheck, while another 11.4% pay themselves last only if there is enough money in the account to do so. 
  • 71.4% of gym owners pay themselves the same or less as they made at previous jobs, with 48.6% saying they actually are paid “a lot less” than they made at their former jobs. 
  • 42.9% of gym owners believe they are “paid enough for what [they] do at the gym”

 

So let me ask you this. If you are paid less than a previous job, and sometimes not paid consistently at all, why do you believe that’s “enough”? Is it because somehow we believe we shouldn’t be compensated for our work because coaching kids is for the greater good of humanity? If you’re volunteering at the YMCA, Boys & Girls Club or Upward Cheer, I get it. You are truly doing a good work in your community. That doesn’t mean your time isn’t worth something, but you’re in this as a true non-profit. 

 

However, if you took out a loan to open your business, created an LLC, signed your name on a lease, and/or are responsible for employee payroll, you absolutely must operate as a business. 

 

Next Gen has helped tons of owners pay themselves for the first time, pay themselves consistently and increase their pay over the last few years. In fact, I did that today on a coaching call, and I bet the other Next Gen coaches will work with clients later this week and do the same. You’re not wrong for taking a paycheck from your gym. 

 

A few months back I was talking to a friend about our mission at Next Gen. Her daughter is part of my program, but we have a lot of connections outside the gym. She was shocked…I mean SHOCKED when I said, “A large portion of owners will pay their staff but never pay themselves the entire time they own a gym.” i

 

Her answer, “Why would they do that? Do they think they’re martyrs for youth sports or something?” She actually wasn’t being sarcastic either. She’s a really genuine, wholesome woman about 10 years older than me. She went on to say, “You know, I have actually said before that I love seeing you and Angie do well. You work hard and you deserve time off and to take care of your families.”

 

I’d bet the best parents in your gym feel the same. They know how hard you work. If your gym is growing, if your staff is expanding, if your gym is consistently clean and your marketing is solid – then they see it. It’s O.K. to buy a new (or new-to-you car). It’s OK to build a house. It’s OK to do those things, and you shouldn’t feel ashamed. If you’re running your business well, you can not only grow your business without price gouging, but you can also take a paycheck that demonstrates your own value to the business. 

 

The biggest thing I say to owners when I find out they pay themselves last or hold off on raises for themselves is, “Would you do the same to your staff? Would you tell them, ‘Sorry I can’t pay you your full check this month, because we need new mats.’” No. You would never do that to staff, so don’t do it to yourself. 

 

If you want some help calculating your own Net Owner Benefit (NOB) and your Effective Hourly Rate (EHR) – basically the salary you’re paying yourself annually and your hourly rate – then book a call today and let NG help. https://nextgenowners.com/book-a-call

 

Successful people know what value they bring to their company.