Turbocharge Your Income With Gym Guest Passes
There are many different ways to increase your gym’s revenue. Let’s focus on how you can use gym guest passes to increase your income, in the way a turbocharger boosts the horsepower of a small car engine. Of course, your own particular approach to this strategy will be strongly influenced by the unique layout of your local racetrack. So, here are two different approaches to gym guest passes, for very different local markets.
Gym Guest Passes To Bring In New Members
The best and most consistent form of income to keep a gym afloat comes from monthly memberships. Once you have a steady stream of dues that pays your bills and covers salaries, any gross sales receipts you can add on top of that is mostly profit. That’s a big factor in taking the risk of starting your own business. I’d like to think that you could one day have an abundance of income that supports more than a frugal lifestyle.
There are many different revenue streams you can try but as a membership based gym you need to be introducing your services to potential members all the time. Gym guest passes can offer a nice extra (albeit inconsistent) source of new members. If you have maxed out on your workload capacity and you are earning a healthy profit that’s awesome! More likely, in your early days of gym ownership, you are going to have some capacity left over once you’re up and running. You will very probably have some quiet time in the day or some expensive equipment that gets under-used.
The Puppy Dog Principle
If you’re confident in your business and the services and products you offer, you can be secure enough to give something away with the confidence that it will lead to good business. It also plays to the basic concept of being a good and generous host. People notice behavior and manners in commercial situations and we are all wired to respond in predictable ways. We are born to be social and good social habits will create goodwill at a very basic neurological level.
This is all about a very smooth sales approach often referred to as the Puppy-Dog Sale or the Puppy-Dog Close. The old story goes that if you give something as adorable as a puppy for a trial period with no pressure then you will likely get a customer who will follow through with a purchase (i.e., membership) at the end of the trial period. Puppies are a pretty high standard to live up to, because they absolutely demand that you adore them. But, if the guest has a positive experience, they should be receptive to taking a membership.
Local Alliances For The Win
In highly transient cities, such as Las Vegas, there are potentially large numbers of visitors looking to work out during their stay. It may seem like their attention is hard to get, but it can be done. The whole point of a marketing strategy is that it’s adapted to your particular demand and demographics. One solution that I have personally seen work is to provide guest memberships through local hospitality businesses at a discount bulk price. Hotels, resorts and casinos can hand out guest passes for your gym as an extension of their on-site facilities. That helps to keep guests happy and in return you receive a prepaid income when you issue the passes to the businesses.
Gym guest passes are a great way to boost your revenue for a low increase of costs. They enable curious potential new members try your gym without pressure. If you compete in a market that churns through large transient populations, offering group gym guest pass memberships to local hotels, casinos and restaurants, to give as comps to their customers, is a great way to earn pre-paid income in dynamic and insecure markets. These are just a couple of ways to make it work and to boost your income. There are as potentially as many other ideas as there are gyms in the world. You are welcome to try them, also to get creative and make up your own imaginative strategy. As always, I’d love to hear about how it goes and your thoughts in the comments section below.