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8 Ways to Increase Gym Revenue & Profit

July 09, 2019

8 Ways To Increase Gym Revenue & Profit

How to Earn Additional Revenue in your Gym

There are a lot of opportunities for gym owners to increase their revenue, but many fail to look beyond increasing prices. While that is a piece of the puzzle, there is a lot more that can be done to take revenue to the next level. If you want to consistently bring in more at your gym, implement some of these easy-to-follow ideas. By taking some strategic steps, you can creatively expand your gym’s revenue sources.

Expand Your In-House Offerings

The more your gym offers, the easier time you will have attracting and maintaining customers. If you have the space, you could lease out an area to certain practitioners that could be beneficial to your customers, such as a chiropractor or massage therapist.

Workshops also help to keep members interested and engaged in their fitness and your gym, and can easily increase revenue. The options are endless for workshop topics in gyms, so reach out to some of your customers to see what types of workshops they would want to see offered.

In the same vein, boot camps will also help attract new customers and keep your current customers engaged. A boot camp around the new year (when gym members are extra motivated) or the spring (when people are getting into shape for the summer) can be particularly successful.

Sell Retail Items

Decide what retail items could be useful to your typical customer and set up a small merchandise area in your gym. It’s a good idea to sell both general items they might want to add to their collection of workout gear and products, as well as emergency items if they forget something at home. This is helpful for your customers and gives you the opportunity to easily fill in a certain need.   

You should already sell athletic apparel, such as gym shorts, socks, shirts, and more. Athlete skin care and recovery products are also a great revenue driver. Hand care products, post-workout muscle recovery products, or even Soaps or Odor Eliminators for gym gear like gym bags & knee braces are all great to sell as they don’t require much space, and are necessities for gym members. Your customers are already buying them somewhere—it might as well be at your gym.

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Hold Member Challenges

A bit of competition can break up workout monotony and get customers more engaged in your gym and their fitness goals. This can both increase retention, as well as attract new customers. Throw a class-based challenge, where the member who attends the most classes wins a prize. You could also do a miles challenge where members track the number of miles logged over a certain period of time, or even a weight-loss challenge.

Build Relationships with Local Fitness and Health Centers

A great way to attract new clients is to create partnerships with other fitness and health centers in your area that have a customer base you’d like to reach. Go to businesses that aren’t in direct competition with you. For example, if you have an indoor cycling studio, build relationships with nutritionists, massage therapists, Crossfit gyms, or any other popular local spots or practitioners. See if you can present an exclusive offer to the customers of these businesses, like a free class or discounted membership. These businesses will have a customer base that leads a fitness and health-focused life, and may be interested in seeing what your gym has to offer.

Set Up a Referral Program

Your current gym members are your best ambassadors for recruiting new customers, so you might as well use them to your advantage. By setting up a referral program with some sort of financial incentive, current customers will be much more likely to get their like-minded friends to join the gym. Make sure the customers that have been with you for the long-haul know about this program—they obviously are happy with your gym, and would be excited to benefit from telling their friends about it. 

Rent Out Your Space

Have an empty room lying around that isn’t being used? You might as well make money off of it! As mentioned, you could rent it out to a practitioner in health, fitness, and/or wellness, but it could also be marketed as an office or workspace, depending on the layout.

Offer Childcare Services

Childcare services can be a huge pull for potential and current customers. Many parents of young kids find it difficult to commit to a gym because of the logistics around finding consistent childcare services. If you offer a solution to that problem by providing childcare for an additional fee, you’ll be able to attract more members and bring in more revenue.

Of course, there will be certain legal requirements that need to be fulfilled, so check what is needed in your state to set up a childcare service in your gym. You’ll need to provide high-quality care, so while this step can be lucrative, it will require a bit more initial work to get everything up and running.

Build Relationships and Increase Retention

Get to know your customers and their individual goals, and do what you can to help them achieve them. This will help customers feel supported and connected to the gym, and will keep them on-board for the long run. Depending on what your gym offers, you can find opportunities to talk to customers and guide them towards certain classes, workshops, or membership options. For example, if a customer has purchased 20 classes and has almost used them all up, take the time to personally connect with them and see what membership options might be best for them next. 

You shouldn’t just focus on building relationships with your customers—your staff is equally as important. Trainers will build relationships with clients, so you’ll want to keep those trainers on your staff in order to keep those clients. Talk to them about their career goals, or any innovative workshops they can lead. Keep them engaged in the company culture, and they’ll be much more likely to stick around.