How gyms can create more income

Increasing revenue in a gym business

Just like energy is the fuel for a workout, revenue is the fuel for asuccessful gym. So how can gyms increase their revenue?
One way to increase revenue is to increase prices. But withincreased prices can also come membership cancellations and adecrease in new signups. Your best bet is to first look at yourUnique Selling Proposition (USP). Your USP is what makes youdifferent from competitors, it's your point of difference and is oftenthe leading factor in business growth or decline.

Maintaining a point of difference can help gyms attract patrons andhighlight why it is worth paying a higher price. This enables brandsto generate income beyond the traditional techniques and ensurethey are offering value-based services.

Look to the competition

Always analyse the competition, complete an audit of theirofferings, and look at why their business succeeds the way itdoes. Look at their offers, membership pricing, facilities andcustomer benefits to see exactly what they’re doing and howyou can do it better.Don't forget to look at all their terms and conditions too. Dothey offer free membership holds? Cancellation fees?Corporate discounts? Referral discounts? Many enticingfeatures are behind a successful gym, and knowing yourcompetitors is the first step in improving your offering.

Technology is amazing!

As we move into advanced technologies, more tools arebecoming available to increase business revenue, and gymsare no exception. All-in-one digital solutions can be anextremely enticing tool for members to see the value in theirmembership. Modern technology can help track results,achieve goals, and allow accurate data and complete bodycomposition scans.

Introducing these technologies into offers and packages canbe a great value-add to help encourage members to invest intheir health. Even offering scans as a part of specificmemberships can be an extra feature to entice people to gofor a slightly more expensive membership or sign up for achallenge.

CONVENIENCE IS PRICELESS

Convenience is one of the most valuable pillars of anybusiness. Gyms should look to the different offerings they canprovide to attract patrons and keep them coming back.Beyond location proximity, people typically choose gymsbased on the quality of equipment, class options, trainers, and
access to supplements and resources supporting nutritionwithin the gym.

Consider offering nutrition support, meal plans, more classes,equipment rental or even a juice stand or coffee shop.
Introducing a body composition scanner such as the Evolt 360can also provide convenience. A member can easily accessthese results, know how their fitness journey is going andpotentially be motivated to sign up for more.

All in all, there are many ways to increase revenue in yourbusiness. It’s about looking in the right places, introducing the right technology and providing the right features for yourmembers.