5 Ways To Increase Your Gym Profitability
Are you worried that memberships are the only source of revenue for your gym? Stay ahead of the competition and explore other revenue streams that could fit your facility. All it takes is a little bit of creativity and some elbow grease.
Check out the five best ways to increase your gym revenue:
A gym is not complete without the presence of a juice bar. Establish a juice bar in the center of your gym and you will find that it pulls in a steady stream of ancillary revenue. Be sure to sell a wide variety of nutritional drinks. Your clientele will appreciate the variety. Stock the juice bar with protein shakes, bottled water, smoothies, and other healthy beverages. A high quality blender is essential to make your own protein shakes. You can also sell prepackaged natural smoothies like Fuel For Fire or Nuun.
Gym-goers push it to the max during their workouts. Give them the fuel for their bodies before, during and after exercising. Yet many members do not bring their own snacks with them to the gym. Sell healthy foods and supplements like power bars, whey protein, granola, yogurt and fresh fruits. In a study conducted by the Club Industry State of the Industry, nutrition programs ranked fifth as a source of additional revenue for gyms. Members will stop by your sports nutrition stand in-between their workout sessions to refuel. Others will purchase items after their workout, perhaps on their way back to work, to replenish their energy.
Massage services represent a hidden profit opportunity. Most gyms don’t take advantage of massage, but that doesn't mean you can't. Gym owners tend to think that hiring a full-time masseuse is too costly. However, the presence of a masseuse and some massage tables will entice many prospective members to join. According to the Club Industry survey, massage services are the 4th best way to increase your gym’s profitability. There are two main ways to incorporate massage into your business. Customers can pay an added fee per message. Or you can offer a special membership tier that includes the massage benefit.
Set up a Recovery Station
Gym members can push their bodies to the max. By the end of their workout, they can be extremely tired or even at risk of injury. Implement a recovery station where your members can use Normatec or Marc Pro products which are designed to relieve and relax muscles and joints to prevent injury. Serious gym go-ers value safety and protection. After all, no one wants to have an injury take them out of the game. That’s why adding a recovery station is totally worth it.
How many times have you seen your members head back home because they forgot to bring headphones or their towel? This happens more often than you think. 10% of gym go-ers ditch their workout if they forget their headphones or other necessities. Selling fitness garments such as shirts, shorts, and sneakers, as well as other accessories; headphones, towels, bottles, weightlifting tape and gloves, will help you retain members at your gym. Selling gear can also increase revenue by an average of $53,463 according to experts, Club Industry.
Adding profit centers will not only increase your revenue, but it will keep current members happy. It will also attract new members that are excited by all that you offer beyond the conventional gym. So don't pigeonhole your gym as strictly a place to exercise. It can be much more than that. boost your bottom line and your overall gym experience with additional revenue streams.
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