1. Personal Training
We’ve chosen personal training to be the first item in this list because it has benefits for your gym which extend far beyond the immediate revenue which it can generate. Personal training is a profitable endeavour in and of itself, but the greatest benefits can be seen in the sense of community and customer loyalty which only one on one or small group training can bring. Gym members that attend personal training have far higher levels of attendance and are more likely to stay on as loyal members in the years to come. Furthermore, high quality personal training services give you an opportunity to leverage the most important factor in the continuing success of your gym – word of mouth! In order to get the most out of your personal training services, make sure to offer a wide range of services. Many gyms place too much emphasis on personal training for beginners. One often overlooked market is personal training for more experienced trainees. Even elite athletes turn to personal trainers and coaches to improve their effectiveness – advertising this fact can be a great way to quickly increase your gym’s revenue from personal training.
2. Merchandise and equipment
There’s nothing worse than arriving at the gym to realise that you’ve forgotten your towel or water bottle. By offering these relatively cheap, yet necessary items, your gym can keep customers happy and introduce a consistent revenue stream which will keep the accountants happy too!
To really kick it up a notch, try sourcing niche training equipment that caters to your members needs, with a focus on upselling. Does your gym have a dedicated crew of barbell aficionados? Source some fat grips and high-tensile grip crushers. What about that flock of yoga geeks? Pick up some mats and ab-rollers to keep them sore and happy.
3 . Boot camps
Boot camps are great. They’re fun, effective, and can be really cheap to run and organise. Time and time again, free or reduced price boot camps for new members have been shown to be a great way to drive up sign-ups, and offer new members a rapid introduction to the essential elements of a good training program.
One big mistake that rookie trainers make when designing and marketing boot camps is failing to emphasise the why and what of boot-camp training. Unlike regular clases, boot camps run for a finite period, and are designed to rapidly achieve a radical level of progress to a stated goal (the why). Moreover, boot camps generally choose to emphasise a very limited range of movements or exercises in order to quickly develop familiarity and competence within this area (this is the what). In your advertising materials, take the time to explore these differentiating factors, and you will be rewarded with a massively profitable revenue stream for your business!
The dizzying array of supplements on the market can be incredibly daunting to new and even experienced trainees. In order to get the most out of workout supplements, there is a lot of research involved, which most people just don’t have time for. As a respected and trusted fitness and training authority, your business can reduce this research overhead for your members, and make a profit doing so!
A carefully curated range of proven and effective training supplements is a must at any successful gym. Focus on supplements that have broad appeal – proteins, pre workout supplements and creatine are valuable for achieving the goals of any trainee, regardless of skill level. Avoid niche or untested supplements which can sit on your shelves and expire over time. By focusing on high volume items, you can rest assured that your supplement range flies of the shelves! Finally, make sure to display your supplements in a bright and visible area of the gym, and keep your staff informed about their uses and applications.
In order to maximise the revenue from the tips we’ve outlined here, a key factor is your ability to combine sales in a synergistic way. Organising a nutrition plan? Recommend supplements or personal training. Signing up a new member? Offer a discount on your upcoming olympic lifting workshop! The only limit here is your imagination and sales abilities. Keep staff up to date, and offer bonuses and other incentives to maximise your business’s revenue potential.
All the knowledge that you and your skilled staff have developed over the years is useless if you’re not sharing it with your members. While one on one training can be a really great way to share information, structured workshops provide a framework for educating members on a larger scale, and what’s more, are a great way to increase revenue! In order to maximise the potential profitability of your workshops, try and figure out the needs of your clientele. Offering workshops which cater to your members is a sure-fire way to increase revenue and keep your members coming back for more.
7. Membership drives
Membership is the core of any gym’s revenue stream. It might seem obvious, but increasing membership is probably the number one way to create revenue and drive up profits. The big tip here is to use the sign-up period to maximise sales with upselling, and to lay the groundwork for future sales. Make sure that new clients know about the services that you offer, and give them reasons to keep coming back!
8. Nutrition and body composition services
For the vast majority of gym-goers, the primary reason for their membership is a desire to look better in the mirror. The old gym adage ‘abs are made in the kitchen’ is just as true as it’s ever been, so use this to your advantage. Free diet planning and body comp assessments can be a great way to bring in new members, and can be a profitable revenue stream from existing members.
Putting it all together
Whether you’re just starting out or are a seasoned veteran, there are always ways to increase revenue at your gym. The fitness industry is one of the fastest growing industries in Australia, and it doesn’t look to be slowing down anytime soon. If you’re interested in getting in on the action, check out www.fsfitness.com.au/franchising for more information.