With every lockdown comes further frustration within the fitness industry with revenue often coming to a halt or heavily reduced due to membership suspensions and discounted rates for online classes.
Having diversified income streams within your business is the key to ensuring cash flow even in times of uncertainty.
Here are ways to boost revenue through added services in your business even during periods of lockdown:
Offer online class options for those that prefer to workout from home:
Whilst some of us prefer to be in the gym environment, face to face with trainers and other members, there are some people that have become accustomed to home workouts and prefer not to step a foot out of the door. Continuing to offer online memberships at a cheaper rate outside of lockdown periods allows you to tap into home workout aficionados who might otherwise give up their memberships.
Product retailing and ecommerce:
There are many products that fall into the health and fitness space that can align really well to your brand. You can sell products within your studio as well as online through your website and social channels. Do your research to find products that you trust and would endorse yourself, as your members are likely to purchase something from their gym rather than sourcing externally, and you don’t want to risk that trust by selling them sub par products. Things such as protein powders, gym towels, foam rollers, stretching/resistance bands, branded drink bottles, even apparel are all suitable options.
Partner with other local businesses and support each other:
If you have a local cafe nearby, refer to each other by offering discounted coffee to gym members, as well as sign up offers/special deals for referrals through the cafe. This could be done with a number of different businesses within the area that could result in a mutually beneficial partnership.
Offer other services within your gym to add more value to your business:
Nutrition coaching and meal planning is one of the most requested services at gyms but it can be difficult to cater to the wants and expectations of your members while having to stay within the scope of practice as a personal trainer.
LEAN Nutrition Tech can fill that gap by providing you with a platform that allows you to procure technical meal plans for your clients based on their goal and training to provide LEAN coaching (nutrition & lifestyle coaching).
A subscription to LEAN is designed to be an additional income stream to your business, giving your members more value by getting the results they want at a fraction of the cost of seeing a dietitian one on one. Additionally, as LEAN is an online platform, your ability to use LEAN is never affected by lockdowns and can always be viable even if the gym doors are temporarily closed.
Most clients look for a new meal plan every month. Once a personal trainer has completed LEAN online training they can provide more technical meal plans to their clients through the LEAN platform and add a fee for these plans. Many gyms add a fee of $40-$60 per meal plan.
Personal trainers can also provide nutrition coaching to their clients after they have completed LEAN online training and add an extra fee of $40-$80 per coaching session too! Therefore it’s possible to increase your gym or personal trainer revenue anywhere from 15% - 30% when you bring in these 2 added services at your business!