How can gyms generate additional revenue?
Generating extra revenue is something that many gyms and fitness clubs pass up due to the extra work that can sometimes be required to do so. This is understandable, but there are numerous ways that your club can generate extra revenue with little effort. This post hopes to provide some ideas for boosting profits.
Extra revenue makes all the difference. Take, for example, having a coffee shop or coffee bar in your gym. If a pre-workout caffeine fix is sold at just £2, and a member who attends your gym 3 times a week purchases one before every workout, this would amount to a total of £288 a year. If you have 50 members doing this, it will generate an extra £14,400 annually. If you have 100 gym members, that amounts to an extra £28,800 a year!
The reason so many coffee shops have opened is because there are great profits to be made. Coffee is cheap to buy and make, and it can be sold for a good price. What is great about having a coffee shop in your gym is that you won’t be directly competing with the coffee giants. Instead, you will be providing coffee as a caffeine supplement.
Supplementation is another way of generating revenue in your gym. Having a bar that stocks a full range of supplements will boost revenue from all types of members. Coffee and caffeine will give energy, while protein shakes and bars will provide a much-needed protein intake. Alternative ideas are high protein brownies and flapjacks, fruit, beef biltong, natural smoothies, shakes and electrolyte drinks that replace the salts lost through sweat.
Having a full nutritional kitchen onsite would be great. However, understandably, this is not realistic for most fitness clubs. Therefore, working with external companies to offer food services is a great idea. Take, for example Athlete Kitchen. They create personalised diet plans and deliver them to homes, workplaces and gyms.
Generating a relationship like this will mean that you could add this service to a gym membership. Again, if this isn’t a realistic option, the more compact Nutrivend might be. Nutrivend provide and fill vending machines with healthy supplements.
Developing relationships will attract new clients through recommendations and website links, which will also help your marketing by boosting your website’s SEO.
Selling products is simply income, and water bottles are a gym essential. Gym branded water bottles will not only generate extra revenue, but one will also advertise your gym where ever it is taken. The same can be said for workout clothing, however this is more difficult and costlier to produce. So, once again, teaming up with other companies to produce these is a great idea. With Ashbourne’s Club Software, you can even sell these items through your own branded app.
To make the process of selling products in your gym even easier, companies like PT Protein have an ambassador programme that enables sports clubs and other certified health, wellness and fitness professionals to supply their range of protein shakes. However, as well as enabling health clubs and professions to sell their products, PT Protein will also take care of the stock management for you, so there’s no wasted product!
This is a creative example that will not necessarily bring you direct income, but will generate awareness, thus leading to income. Charity events are a superb way of helping others, alongside generating a real presence for you club. Alternatively, if you can organise an expo, fitness meet or fitness event this can bring direct revenue as well as awareness.
This will depend entirely on the size of your gym, the facilities that you have and the man power that you can deploy.
Fitness bootcamps and training courses are great extras that are easy to pull off and don’t take additional training. Essential the employees running the courses will be doing what they do every day, just in a more intense environment.
Childcare will be dependent entirely on your facilities, however it is certainly something that would draw parents to your club.
Massage therapies and sport spa treatments are extras that may require employing specialists. However, the return can be substantial. This service could be added to an advanced membership or purchased when needed.
Adding extras to your gym is a great way of boosting revenue. For further information please take a read of our blog.