inflation

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gym members

Why Now May Be the Right Time to Raise Gym Fees

Gym Management Have you considered raising your gym membership rates yet? It’s a scary thought but the truth is inflation is running hot with no signs of cooling off. As a gym owner, you get the big picture: higher fuel prices, limited labor market, and costly commodities. This all adds up to less cash in the bank.  And, even though you didn’t start a gym to make a fortune, that buffer between income and expenses — aka your profit margin — is the foundation of a well-run business. Profit is where growth, reinvestment, and risk-taking occur.  In order to keep [...]

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Here’s a great six-week strategy to raising gym membership fees w/o creating friction 

It’s on every gym owner’s mind – do I need to increase rates? With everything else going up, from paper towels to rubber gloves, it’s tough to say no. One gym owner decided to take the plunge. After six years in business, Chris Giumarra of Rosamond Health & Fitness in Rosamond, California, created a six-week, three-phase strategy for raising gym fees. https://www.youtube.com/watch?v=-va7RfCzBkU&t=1430s Phase One: Social media plan of attack for raising gym fees Giumarra chose to increase membership charges by $5 per month for both his “heroes” category and regular gym members. It would be his first rate hike since [...]

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