There are plenty of ways for fitness facility owners and managers to save money without decreasing the quality of services. You can make plenty of money as a gym owner while keeping your members satisfied with machines, classes and the condition of the facility. Here is exactly how your can cut costs as a fitness facility owner.
Order in Bulk
One of the best ways to save money is to order your fitness center's supplies in large quantities. There is no sense in sending one order after another, paying a premium for comparably small amounts of gym supplies over and over again. If you are having these items shipped to your facility, the shipping and handling fees will certainly add up quite quickly. The solution is to order wholesale gym supplies. Place periodic orders for large amounts of fitness center cleaning supplies along with other sundries and you will save a ton of money. Buying in bulk lowers the per-unit price by a considerable margin. Furthermore, you will spend less time counting inventory, placing orders and opening shipments by ordering in bulk. Do not lose sight of the fact that time is money.
Consider Leasing Gym Equipment
You do not have to buy every single piece of fitness equipment. It is possible to lease gym machines and return them at the end of the lease. This way, your facility's members will enjoy a steady stream of new fitness machines. New machines help keep members interested in working out and ultimately boost your facility's retention rate. More importantly, leasing gym equipment does not force you to plunk down a wad of cash to purchase new machines. You can pay on a monthly or yearly basis and avoid the massive financial commitment required of a purchase. Use the savings to improve your fitness facility in another manner.
DIY (Do It Yourself) Marketing
There is no sense in hiring a salaried marketing professional to advertise your gym's services when you can do it yourself. Take to the web to tout your fitness center's merits. Engage in social media, guest blogging, pay-per-click advertising and other methods of inbound marketing. You can learn how to conduct a DIY marketing campaign with a surprisingly small investment of time and effort. It is quite cheap to use the web to market your gym compared to traditional outbound marketing methods like commercials on TV, radio, newspapers etc.
Obtain Member Feedback
Take the time to survey your members to find out what they would like to change or improve in the facility. You just might find that members desire surprisingly affordable alterations. It is not always necessary to invest in the latest and greatest fitness equipment that costs thousands of dollars.
Members might be craving something as simple as a space reserved for yoga instruction. Order yoga mats in bulk through a wholesale gym supplies dealer and your members will flock to your yoga room. It is comparably cheap to order these supplies in bulk and pay a part-time yoga instructor than to shell out big money for high-tech fitness equipment.
Let Prospects try the Facility Before Committing
One of the best ways to establish inroads with prospective members is to let them experience your fitness facility before plunking down hard-earned money for a 6-month or year-long membership. This is a latent means of advertising as it gets the general public interested in your facility's offerings. It also costs much less than a traditional marketing campaign in which thousands of dollars are spent on outbound and inbound advertising efforts. Keep that money in your pocket and allow locals to try out the gym for a limited time.
Let current members bring guests to the facility several times per year. Offer a brief free trial period so interested prospects can test out your gym equipment, group classes, sports courts and locker rooms. Such a free trial has the potential to pay off quite handsomely across posterity. It costs little to let trial members use the facility. Yet even if a small percentage of these already-interested individuals sign up for a membership, you will make a considerable profit.
Create a Detailed Budget
It is imperative that you track your spending and revenue down to the penny. A budget is the best way to ensure your money is used in a prudent manner. If you don't track your money, you will eventually lose sight of where it goes. A budget provides a detailed look at the true costs and revenues of your facility, allowing for an accurate tracking of how and when money is spent. A budget also serves as a means of planning for your facility's short-term and long-term future. This financial plan highlights areas where money is being wasted, helps prepare for emergencies and propels your facility toward profitability goals.