If your gym is in a bad shape when it comes to revenue or profit, rule number one is – do not panic! Jumping the gun and rushing to Randy Couture does not have to be your first option. The positive side of allowing him to “rescue your gym” is that it certainly gives you a lot more publicity among fitness enthusiasts. However, that same publicity may tarnish the goodwill you have created with your present members. Here are some ways to save your own gym.
1) Analyze the Problem
Make sure you first understand what is wrong before you try implementing any solutions. If you own an fitness business you must first understand some business issues. Four things – product, place, price, and promotion – are probably the main four things where you may face issues.
– Give out surveys anonymously to understand peoples’ views of the gym equipment, and perhaps keep a suggestion box in the gym.
– Research the surrounding area. Repeat this action if you had already done so before starting, and find out the number of potential members who live in the vicinity.
– Make sure your rates are not exorbitant. At the same time you do not want to come off as a cheap gym. The working middle class is usually your target group, especially if your gym is newly established.
– Promotion usually costs a lot, which is why it is so difficult for start-ups to advertise. Use different techniques, such as online advertising, social media, or giving incentives to current members to bring like-minded people along.
2) Work on Goals
A dedicated endeavor in improving your situation is not always enough. Efficiency is an equally important factor. Make a solution plan and meet those goals to improve. Once you have identified the problem accurately, the solution is specific to the problem itself. Once the major issues at hand are solved, specific solutions are fairly simple and effective. Performing them is based how well your management team is.
The best way to keep your management team goal oriented is to have them visually see the progress of their goals daily. How do you do this? You can write them down daily on a big board and calculate everyday just how well or not so well your gym is in terms of all the important statistics. Or you can invest in a health club management software that automatically does this for you and your employees. Remember, what is measured, gets improved. Insight, member management software, can measure all the important stats and more and visually lay it out on a daily for your staff to improve upon.
3) Do Not Aggressively Campaign and Spend
No matter what type of fitness center you run, aggressive campaigning and spending may not be a good option. This is a risky way of dealing with situations according to some people. But allowing people to prove your downfall by looking at your spending pattern may worsen things and may cause your existing members to leave. Stick to your financials and let responsibility be the main voice of reason. As Kenny Rogers would say, you gotta “know when to hold ’em and know when to fold ’em.” Don’t risk your business. Go back to customer service and let word of mouth be your source for a while.
4) Specialization is Needed in Today’s World
Product differentiation is one of the vital things that help to sell any product or service. Out of the many fields of fitness, you must select one, because people today wish to be trained in very specific spheres like fighting, gymnastics, or yoga. Adapt to this trend.
5) Product Differentiation and Adaptation
Start a different trend or follow a growing one. Being the first in a field gets you a long way. The initial novelty also gives your gym a temporary cash inflow that helps in creating a base from which you can continue building. Never stay stagnant, as the market will move without you. Take the example of aerial yoga. It was a craze among people of all age groups for quite a while and continues to grow today. Innovative, but effective strategies like these is what slowly brings your gym back to the top.