Passionate about Fitness? Here Are Some Tips to Run Your Gym Profitably
While running a business can be exciting and satisfying, it can also be quite challenging. If you put in significant time and money resources, you have no room for error.
Opening a gym can be a dream come true for people who are passionate about fitness and helping others realize their fitness goals.
However, once you open your gym doors, your only option is to keep it not just up and running, but up and running profitably.
Here are some tips to help you run your gym profitably.
1. Start Lean
This is both in terms of equipment and personnel.
While marketing helps a lot, you cannot make assumptionsof big numbersin the beginning.
Your safest bet is to plan for small numbers and start small, with some basic equipment and one or two trainers.
As the business picks up, then you can add more equipment and hire more staffers-full or part-time to handle the numbers adequately.
2. Learn Everything You Can
You have probably heard this before: start a business, you know.
If you set up a venture with some background information, networks, and even an idea of the pitfalls to avoid, you will make fewer mistakes and will be more likely to succeed.
To be in this business, it’s definitely a plus if you are a certified personal trainer yourself.
In a sense, this will help you understand the business, and what your clients expect of you as well.
Similarly, you will be in a better position to make hiring decisions, supervise and monitor your trainers as well.
3. Be Different
There is a high possibility that there are other gyms in your locality with the same equipment. This means that you must find something that makes yours stand out.
For example, you can also offer diet and nutrition advice to your clients. You can similarly look into ideas to help more people come in.
For example, mothers in the area might want to come to work out but be dissuaded by the hefty child care fees.
What about having a program where mothers can work out in a group with their babies. You can similarly have a playpen at one corner of the gym.
These might seem like small add-ons, but they might bring in more business.
4. Talk to Your Customers
There is what you want, and then there is what your customers want. These might be two different concepts.
To be successful, be open to listen to your customers and to go the extra mile to deliver.
Make it a habit and train your personal trainers to ask clients what they need, what you could do better, and what they would like more of.
This information can help you become more customer-centric and earns you customer loyalty.
Customer loyalty goes a long way in establishing business stability and costs much less than bringing new customers on board.
5. Offer 360ᵒ Services
Consider branching out and making your gym a one-stop-shop centre for all things fitness.
This will help you create multiple sources of revenue, under the same roof, and with the same overheads of one business.
Explore different options such as having a healthy juice bar and healthy ready to eat meals.
Similarly, look into selling branded gym gear, health supplements detoxes, and so on. You can partner up with manufacturers to get stock at subsidized prices, which you can then mark up for a reasonable profit.
Your clients will love the convenience of getting everything under one roof.
One More Thing
When going into business, flexibility is one of the most important traits you can have.
Business is unpredictable, and you might have to wear different hats at some point.
It will help to be flexible and to keep your eyes open to the opportunities that will be coming your way.