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🏋️♂️ Retaining is important to a growing business, but you want growth right? Adding an extra $25 per member, per month to your overall monthly revenue will give you a healthy annual increase!
Retaining existing gym members means more revenue and a growing business. Getting your members to buy more in products and services also increases your gym’s revenue and grows your business.
Adding an extra $25 per member, per month to your overall monthly revenue will give you a healthy annual increase!
- 50 members = $12,500 more annually.
- 75 members = $22,500 more annually.
- 100 members = $30,000 more annually.
If you’re not already working to increase your revenue per member, you could be leaving a lot of money on the table. So let’s look at ways to capture that revenue and grow your business.
1. Retail Sales
Selling retail items is one of the best ways to increase your revenue from your existing members. With industry markups as high as 100%, there’s plenty of money to be made in retail sales. Plus, many gym owners find that retail is the easiest way to make additional money. Once you stock the items, they sell themselves. Whether it’s bottled water, supplements, snacks or clothing, your members will appreciate the convenience of buying these things from you. Also, if you’re selling it, they know you’re endorsing it.
Want to help members break through a plateau? Give them the tools to mix up their training routines. Workshops help you earn more revenue and boost your retention at the same time. (The more knowledge and tools a gym member has, the more successful they will be. And that success correlates with greater retention.)
When it comes to planning workshops, think about the questions you’re often asked and use them as a starting place. Will I get bulky if I lift heavy? What is an IIFYM eating plan? How much cardio should I do? What supplements should I take? How do I prep for a fitness competition? And the list goes on.
If you don’t have the knowledge to lead a specific workshop, reach out to your network. Often, industry professionals will lead a workshop (for free) in exchange for access to your members. For example, a massage therapist could host a workshop on foam and trigger point rollers for mobility, and a competition prep coach could give an overview of the fitness competition space.
3. Personal Training
Like workshops, training sessions boost revenue and increase knowledge and skills that help with retention.
4. Boot Camps
Members are more motivated to workout during certain times of the year, and offering boot camps to capitalize on that momentum will help you earn more revenue. For instance, you could easily add a boot camp to prepare for bikini season or a ‘New Year New You’ camp. Other fun ideas, depending on where you live, include a winter sports prep camp and a summertime beach boot camp.
5. Body Comp Assessments
Offering body composition assessments for a small fee can bring in more revenue, especially if you tie them into a complimentary service like a nutrition plan or set of training sessions.
6. Nutrition Plans
Like trainers, nutritionists can join your gym on a freelance basis and provide additional income for you and a service for your members. Even if you are only able to offer the services of a nutritionist on an appointment only basis, your members will appreciate the convenience and opportunity.
7. Massage Therapy
Do have extra space you can lease out to a massage therapist or other complimentary service provider? Bodywork goes hand-in-hand with fitness and wellness and would be a great service offering at your gym.
If you don’t already offer childcare, consider adding it for an additional fee. You can charge by the week, month or day. If you don’t have space now, keep your eyes open for a way to expand or rent adjoining space in your building.
As a busy gym owner, it’s easy to look at marketing and member retention as the only focus points for revenue growth. But you should not overlook increasing your revenue per member as a way to grow your business. If it’s an option for them, gym members will buy more services and spend more money in house, thus increasing your overall revenue.