Every single entrepreneur’s goal is to generate a positive cash flow. This means that the money coming in should be far greater than what’s going out. In the fitness industry, increasing gym cash flow isn’t only about acquiring new members. There are different ways to do so and one of them is by boosting your business’ revenue per existing member.
Gym marketing should never end once a client signs up for a membership. Fortunately, maximizing earnings from each member can significantly optimize your club’s cash flow. In fact, if done correctly, your operational costs may no longer largely rely on just getting new members. In this article, we break down different ways you can do to boost revenue per member.
5 ways you can increase earnings per member at your gym
Sell add-ons or upscale memberships
One way of optimizing cash flow is putting up add-ons for sale on top of the basic membership packages. For instance, if the basic membership plan you have in place does not automatically include 24/7 access to your gym’s facilities, you can give your members this option in exchange for an extra fee.
Another possible option is to do this for saunas as well. Only members who avail of the sauna access add-on are allowed to enjoy the facility. This can be just about any other service your gym can offer. On top of the mentioned ideas, you can also simply offer premium gym packages your clients can upgrade to. The larger the coverage of facility access, the higher the membership fee.
While these may sound overwhelming to implement, setting up a good membership management system should make this task incredibly easy.
Get your members to use other services
Implement services your members can avail of outside their membership fees. If you have a tanning bed set up, or if you’re planning to invest in one, allow members to use the service with a corresponding fee per use. You can also hire skilled personal trainers or nutritionists your clients can book on top of their memberships.
Another effective idea is to hold different fitness classes for your clients to choose from. Consistently market these varying services to your members and watch your cash flow increase. To avoid the cost of having to hire new personnel to manage these bookings, it’s highly recommended to implement a gym scheduling system. This will not only help you save money from additional operational expenses but will also make booking easier for your members.
Sell retail merchandise
Another method to boost your revenue is to sell products to your members. You can have some branded merch manufactured and put them up on sale. This is a particularly brilliant idea because you’re not only gaining some earnings but it’s another way to market your club as well.
Moreover, you can also sell some food and beverages such as coffee, protein bars, protein shakes, electrolyte drinks, and the like. You may even level up your game by becoming authorized distributors of various fitness products.
To make this process easier, a gym point of sale system can make handling sales a breeze. With a smart POS and inventory system curated especially for fitness centers, you have nothing else to worry about other than making your clients make those purchases.
Host fitness workshops and events
Once your members have found a community in your club, everyone will love to attend fitness events and workshops. But it’s not that simple—you have to know the things that spark your members’ interests and plan the events around them to ensure member participation. Your members’ objectives, interests, and activities are easily tracked with a membership management software.
The revenue stream you can get by hosting special occasions for your members is always worth the time and effort. As long as you strategically plan these events, you can expect most of your members to be willing to pay the price.
If you have busy members who also have to tend to their children, they would definitely be more than willing to pay for childcare services inside your facility. It’s the best way parents could still get their gym time while having the luxury and peace of mind of having their kids in the same place.
But before offering this service, make sure to check all the legal requirements in your area. Since your business is liable for the safety of the children, you have to plan all the details carefully.
Increasing your gym cash flow from existing members is no easy task. It involves a lot of careful planning and meticulous attention to detail. However, this should not hinder you from implementing these cash flow-boosting ideas into your gym enterprise.
Good thing is that there’s an all-in-one gym management system tying all these together. What once were extremely tedious tasks can now be done with minimal effort and less manpower. Implement a high-performing membership management software and watch your gym productivity grow