Being in the fitness business is challenging yet rewarding work. You help people live a healthier lifestyle and attain their fitness goals while earning a decent profit for yourself. For you to keep on helping others, however, you obviously have to earn enough revenue to keep your gym-going.
So, how do you increase revenue?
Good question. In this guide, we’re sharing with you some of the tested-and-proven strategies that can skyrocket your revenue and make your gym business grow:
1. Incorporate more retail items.
Running a successful gym business is all about knowing how to retail. While a good portion of the profits come from gym memberships, a larger part of the earnings should come from retail items. Don’t limit these items to just sports equipment and tools. Novelty items such as customized lapel pins, shirts, towels, and headbands can also bring in nice revenue, especially if they have catchy designs. Aside from these, you can even offer your members flip flops to wear in locker rooms or combination locks to keep their possessions safe.
2. Sell a wide variety of healthy food and drinks.
When selling any kind of food and drinks, make sure to keep it healthy so gym-goers don’t end up ruining their hours of hard work for a delicious piece of cake or sugar-filled cola. Make sure to include pre- and post-workout favorites such as protein bars, smoothies, fruits, sports drinks, and water.
If your gym is near a cafeteria, consider striking a partnership with them by letting them sell their healthy meals and snacks while you mark-up the prices for a small profit.
3. Have an online presence.
Having an online presence makes it easy for people to get in touch with you, as well as get information such as your gym’s business hours and services offered. There are numerous online marketing strategies that can benefit your gyms, like social media marketing and email marketing. And the best part is that it can cost little to nothing to start an online marketing campaign.
4. Invest in customer retention.
We already mentioned email marketing in the previous point, and this can be an effective way to keep your existing clients coming back. This email strategy works incredibly well with promos and events. Every time something fun and exciting is happening in your gym, you can create promotional emails to let your members know. The same goes for any group discounts or special seasonal rates.
Here’s one good tip to remember when creating an email marketing strategy: make it personal. Use the recipient’s name, if possible. Also, tailor the emails to match their unique interests. For example, you can have a different email newsletter for women that includes more details on aerobics and yoga, while men can receive weekly updates on the best strength training workouts to prepare for body-building competitions.
5. Host an event.
Once again, this strategy works well when combined with other marketing tactics. Hosting an event can entice existing members to invite their friends. It’s also a good way for everyone to network and meets some of their fellow fitness peers.
Examples of gym events are:
- Membership milestones (like reaching your first 1,000 club members)
- Staff or member birthdays
- Holiday events
Whatever the occasion may be, market your gym as a place for community and positive change. This will encourage your members to promote your fitness business for you and attract new clients.
The revenue-generating strategies you can use for your gym are as numerous as they are nuanced. You may benefit from using some or all of the ones mentioned in this post. Just remember to track your progress so you know which specific methods bring in the most results and which ones are just eating up your resources.
About The Author:
Stacey Smith is the freelance health writer. She is passionate to write on health, women’s health, dental health, diabetes, endocrinology and nutrition and provide in-depth features on the latest in health news for medical clinics and health magazines.