Category Archives: direct debit

Fitness club members leave because their expectations are not met

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Fitenss survey result say members leave because their expectations are not met

Fitness club members leave because their expectations are not met

This year so far 12,810 members across Australia and New Zealand have responded to the survey.  Some interesting results are emerging. The Australian & New Zealand Fitness Industry Survey run by Ezypay, is the go-to place for fitness club member’s thoughts feelings and perceptions.  It is now 5 years old and is the largest of its kind in the world.

Twenty percent (20%) of members have told us that they leave their fitness club because the club never met their expectation.  What expectation are we creating when a new member joins?  That they will look amazing, feel amazing, lose weight, build muscle etc.  Something is going wrong here because one in five people who join a club have an expectation that is not met.

If you could impact any percentage of these people by helping them have a reasonable expectation of their membership or their exercise outcomes then you will stop members from leaving. Meet their expectations, create reasonable expectations or manage their unreasonable expectations and you will lose less members.

The survey is still open for members to respond.  If you would like to receive the full report, then help us by sending the link to your members.  For more information contact Simon Hall, Marketing Manager, Ezypay simon.hall@ezypay.com.au. 

About Ezypay

Ezypay is an outsourced direct debit service provider dedicated to offering a payment collection system that assists businesses in the regulation of their cash flow and revenue without the hassle of managing members’ bills.

With close links to the fitness industry Ezypay offer small to medium growth business of all types an easy online payment collection options at www.ezypay.com.au

Creating Memorable Customer Experiences

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Ezypay Feb theme

Creating Memorable Customer Experiences

Thanks to everyone who made a comment on our 31 Day Cash Flow Challenge that we ran in January.  We also had the pleasure of having guest blogs from Justin Tamsett from Active Management, Rohen Burton from Fit n Fast, Rowan Brown from Recovery Partners, Heather Stone from You’ve Been Promoted.  Thanks for sharing your tips with everyone.

February is the month of love so we are going to be talking about ‘Creating Memorable Customer Experiences’.  Awesome customer experiences generate raving fans and raving fans create revenue in your business. Follow our blog and Facebook for lots of interesting articles, videos and stories about Creating Memorable Customer Experiences. This month we are planning to take advantage of the leap day on 29 February and will be having a Creating Memorable Customer Experience web event.

If you would like to win a cool orange prize make your way over to our Facebook page and enter the competition.  You can win an orange watch, an orange drink bottle or an orange plate.  We are also over at LinkedIn if you prefer to hang out there.

The Australian and New Zealand Fitness Industry Survey will be closing soon but is still open for members to respond.  This year so far 12,810 members across Australia and New Zealand have responded to the survey and some interesting results are emerging. If you would like to receive the full report, then help us by sending the link to your members.

31 Day Cash Flow Challenge – all 31 daily tips

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Ezypay’s 31 Day Cash Flow Challenge

31 Daily Cash Flow Tips

During the month of January 2012 Ezypay shared our cash flow expertise and running a 31 Day Cash Flow Challenge.  Here is a reveiw of all the daily tips.

An eBook will be available soon.

Day #1 – Make sure you know your current financial position

Day #2 – Make sure the price is right and you are covering your costs

Day #3 – Reconcile your membership income on a weekly basis

Day #4 – Reduce non-core-expenditure

Day #5 – Carefully budget payments for essential expenses

Day # 6 – Keep stock levels to a minimum

Day #7 – Set your credit terms carefully

Day #8 – Planning for the lumps

Day #9 – Pay your creditors strategically – guest blogger Heather Stone – You’ve Been Promoted

Day #10 – Are you addicted to lump sum revenue? Guest blogger Justin Tamsett – Active Management

Day #11 – Don’t incur tax and other statutory penalties

Day #12 – Send invoices on a daily or weekly basis

Day #13 – Invest spare cash in a high interest account

Day #14 – Be really stingy and eradicate unnecessary expenses

Day #15 – Get finance products working to your benefit

Day #16 – Don’t forget about Pro-rata payments

Day #17 – Spread out payments over a reasonable time frame

Day #18 – Do a cash flow projection

Day #19 – Bring in the professionals

Day #20 – Make more sales

Day #21 – Do you know the difference between a balance sheet and profit and loss

Day #22 – Get another quote or two

Day #23 – Discount …. but only for profit

Day #24 – Regularly complete an expense audit

Day #25 – Make someone responsible for debt recovery – guest blogger Rowan Brown, Director, Recovery Partners

Day #26 – Understand the impact of payment cycles on your business – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #27 – Use Paretos 80/20 rule – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #28 – Set up a USD account – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #29 – Collect Bad Debts ASAP – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #30 – Growing a business using 3 to 5 yr projections-  guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #31 – Ways to find hidden money in your business –from the Australian Business Centre

31 Day Cash Flow Challenge Day #31 – Ways to find hidden money in your business

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Ezypay’s 31 Day Cash Flow Challenge

Ways to find hidden money in your business

Extract from the Australian Business Centre.

Most businesses have a hidden source of extra cash right in front of them.  Here are a few ways for you to find that hidden money.   

  1. Rent or sell off unused space

If you have some empty space that you are not using wouldn’t it make sense to lease this out? If you really don’t need it you could consider selling a concession for it. It is far better that the space is used by somebody else rather than just left doing nothing.

  1. Rent wall space to advertisers

If you have some empty wall space outside your business you could consider renting this out to advertisers; you will need to check with local laws first before making this move though.

  1. Temps and Freelancers

If you don’t have enough work to keep all of your staff productive you might be better off letting them go.  You might consider hiring some freelance workers that you can use when you need to. Having less full time workers will also mean that you won’t have to pay so much on employee benefits and office equipment that they would need if they were with you all the time.

  1. Lease rather than own

Consider leasing rather than owning assets. It is important that you do a cost benefit analysis to see if it would make more financial sense for you to lease rather than own assets. Keep in mind that if you lease them you won’t be able to claim them as a business asset.

  1. Rent out unused equipment

If you have any equipment that you don’t use all the time you should also consider renting this out during the quiet times. Weekends and evenings is a time when this equipment is idle; it could be making money for the business instead.

31 Day Cash Flow Challenge Day #30 – Growing a business using 3 to 5 yr projections

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Ezypay’s 31 Day Cash Flow Challenge

Growing a business using 3 to 5 yr projections

 Guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

If you are planning to grow your business, create cash flow projections out for 3 to 5 years. Once you have a base projection, save a few copies so you can do what if scenarios. What if I borrow more money now? What if I raise more capital? What if I speed up/slow down growth?

Follow the 31 day Cash Flow Challenge here and on Facebook.