3 Tips for Increasing Gym Revenue
A common goal in business is to benefit the consumer while also being profitable as an entrepreneur. The fitness industry is no exception. In 2017, this industry’s listed value was at $30 Billion in the US alone. And it’s only getting bigger. Anyone on social media can see the immense popularity of this lifestyle, and plenty of gym owners are cashing in on it. If you are running a gym, there are neverending ideas out there to enhance your business. All it takes is a little creativity and determination to follow through with it. For health club owners, here are three strategies to increase gym revenue.
Tip #1: Offer Free Trials.
Ever heard of ‘try before you buy?’ It is an old technique that salespeople use to give potential clients a taste of what they could gain before they purchase. Companies of all industries use similar variations of this same idea. Ice cream parlors, for instance, will offer samples of any flavor to make sure you like it. Similarly, when trying a gym membership for the first time, clients are looking to scope out the place. Quite frankly, they are making sure they will get enough bang for their buck.
Many gyms will offer a potential client a free session to try out the equipment and general vibe of the place. You could even take it one step further and provide more free or discounted benefits after they sign up for their membership. An example of this is a free personal training session upon gaining membership. Also, depending on what other services you offer at your facility, you can give all members discounts on massages, tanning, etc. This notion also works for samples of protein bars and other health-conscious food you may sell as well. By getting incentivized, potential members can become paying members.
Tip #2: Maximize Your Space with Room Dividers.
Fitness businesses can have a variety of different functions for their space all at once. Having multiple types of workouts going on at the same time is an excellent way to maximize the use of your location. For instance, if a class is taking place in an open room, but a personal trainer also needs the space, create a barrier for each activity to have a private, designated area. For this purpose, use a Screenflex Standard Room Divider. These partitions are on movable casters that lock in place, making them sturdy yet portable. This kind of barricade creates two separate rooms within a more significant event space.
These dividers can also be used in another location of the facility as well. For instance, in the central area of the gym where members use equipment and weights, a common pain point for some is the lack of space for stretching and self-guided yoga. With a divider in place, you can create a private stretching area, easing the stress of those members who spend time looking for a spot to place their mat. When members are satisfied with the functionality of the gym they are more likely to keep renewing their memberships, and you would continue to increase revenue.
Tip #3: Offer Unique Classes and Services.
A person’s health is more than just working out. Many fitness experts say diet is typically 80% of most weight loss success stories. One way to incorporate nutrition into the gym is to create unique classes around it. If you or one of your employees specializes in creating meal plans, design a course explicitly teaching others how to do it as well. Charge each person an entry fee, but offer discounts for members specifically. This action should bring in more people outside the gym and also entices them to buy a membership on top of that. It would bring in revenue from not only ticket sales but also the new membership fees every month.
Another unique class or workshop idea that you could focus on is one of mental health. Since self-care is increasing in popularity, why not bring it into the gym? Teach your customers any topic you are passionate about relating to self-care or how to be mentally healthy. NCAA even created a mental health workshop planning kit that is an excellent resource for building your class on this subject. These particular workshops mentioned are geared towards student-athletes but could correspond to anyone who believes in all types of health. Once again, charge people at the door or sell pre-order tickets for it to increase gym revenue. When you get creative with your planning, these workshops can set you apart from your competitors as the local gym to attend.
The options are endless when it comes to creating more profit in your business. These three steps are only the beginning of the potential your gym has to increase its revenue. Now it’s time to take the initiative and brainstorm new ideas for yourself. Even if some of the plans aren’t successful at first, your customers will love the effort you put into making their gym updated and fresh. Innovative changes like these are a win-win for both you and your clients.