Mar 1, 2021

Gym and Fitness Franchises: Sample Objectives and Key Results (OKR)

Written by FranConnect

In 2018, the worldwide fitness industry saw membership grow to a record-high 183 million users, revenue totaling an estimated $94 billion, and club count exceeding 210,000 facilities, according to the IHRSA Global Report. As the global landscape shifts, we will continue to see gyms making a meaningful contribution to the economy.

OKRs

 
Objective: Increase franchisee revenue.
 
  1. KRs:
    1. Grow membership by 10%.
    2. Grow inbound leads by 20% from online sources.
    3. Book trial with 40% of inbounds.
    4. Get sales conversion rate to 80%.
  2. Initiatives:
    1. Create Facebook campaign with agency.
    2. Put front desk staff through sales training provided by head office.
    3. Perform monthly review of leads vs. trials on FranConnect scorecard.
    4. Work on lead quality of PPC (pay-per-click) and display campaigns together with agency.
 
Objective: Increase profitability through marketing efficiencies.
 
  1. KRs:
    1. Make cost per lead $50.
    2. Have a member retention rate of 70% (existing clients at the end of the period/existing clients at the beginning of the period).
    3. Increase community marketing leads by 20%.
    4. Increase leads from signage by 10%.
  2. Initiatives:
    1. Work with property management group to have an attention-grabbing sign out front.
    2. Participate in local wellness expo.
    3. Host benchmark workout session with members for ongoing performance improvement.
    4. Place “first week free” flyers at businesses in the same plaza.
 
Objective: Delight our customers.
 
  1. KRs:
    1. Maintain a Net Promoter Score (NPS) of 50.
    2. Increase member engagement in group fitness by 10%.
    3. Put 90% of members through the outstanding onboarding program released by head office.
    4. Expand social media engagement by 50%.
  2. Initiatives:
    1. Host one customer appreciation event.
    2. Perform quarterly analysis of NPS with team on FranConnect.
    3. Ask staff to post pictures on social media of members reaching milestones on a monthly basis.
    4. Engage in seasonal giveaway campaigns of branded merchandise with social media component.

Hopefully these sample objectives and key results have helped you out. Do you want to take it a step further? Learn more about strategy and gym and fitness franchises by checking out the following:

About Objectives and Key Results in Franchising
How to be a Collaborative Franchise Business Coach (FBC)

 

About the author

FranConnect

FranConnect is the leading franchise management software provider. Based on an analytics approach, only its award-winning, unified FranConnect platform engages stakeholders to grow, scale and optimize franchise systems through a connected and complete view of the business from sales to multi-unit and multi-brand performance. Over 800 brands — including 40 of the Entrepreneur’s Top 100 Global Franchises — in 18 countries count on FranConnect to successfully grow their franchise systems. FranConnect customers span all sizes, growth phases, and industries and have grown 44% faster than the broader franchising market. Backed by private-equity investor Serent Capital, FranConnect is headquartered in Herndon, Virginia, with global follow-the-sun operations.

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