If you have some investment capital, and are looking for a great investment idea for a ripe marketplace, you might not realize just what a great idea gyms are. With a relatively low startup investment, you can build customers that are contracted to subscribe to your business on a yearly, or bi-yearly basis. With limited maintenance costs, you can run a profitable gym in nearly any large business space. Beyond the basic idea of opening a gym in general, there are also several ways to maximize your profits through things like classes, personal trainers, and the right marketing launch. Take a look at this list of tips on how you can make your next best investment happen.
Gym Basics: Why is this a Good Investment?
Fitness is something that’s only grown in popularity over recent decades. Upscale neighborhoods and communities are particularly ripe for gym customers, as the wealthier people tend to have more expendable income to spend on their health. While you may think that buying twenty or thirty pieces of workout equipment is very expensive (and it won’t be cheap), it’s actually quite cheaper than buying restaurant equipment, or bar equipment – and the licenses are nothing in comparison.
Speaking of comparisons, when you compare the ongoing overhead and fees of owning a gym to that of a restaurant or bar, the void is wide and in your favor. Gyms require only cleaning, and the occasional machine maintenance. There aren’t any dishes, nearly no trash removal, and a limited staff is needed. Some gyms stay open many hours with no staff at all! The best part is, gym customers are loyal. If you supply what you said you would, they’ll stick with you for years. Often contracts oblige gym members to sign up for at least six months to a year anyhow. There’s now two ways about it, opening a gym is a great idea.
Marketing Launch: How to Bring Them in the Door
One downfall of gym ownership is how many other gyms there already are. How will you set yours apart from the crowd, or even get it noticed? This is where a targeted and proper marketing launch is essential. You need to create a theme that lets people know you aren’t just another place to workout. This is something like “Globo-Gym; where health matters.” Now, you have to get this message out to the hundreds and thousands of people in your new customer community, and what better way to do that then direct mail. Try sending out a direct mail campaign with free trial passes attached. These will give your new customers a chance to try your gym, and you’ll get their information when they do (for further marketing). You simply need to create a structured targeted marketing launch for your gym before it goes.
Classes and Trainers: Your Best Upsell Opportunity
Offering personal trainer services, and trainer led workout classes are a fantastic way expand the profits of your gym. Not only do these offering bring more of an overall draw to your gym as a premium workout environment, but they actually make you more money while doing less work. For starters, most gyms have a policy that you have to be a member to attend classes. This means that even as the personal trainers walk around town promoting the classes they teach, they’ll also be promoting your gym memberships. On top of the membership increases from the class offerings at your gym, you’ll also get a percentage or flat rate fee from each personal trainer for each class they teach (since they’re not employees, and collect all fees from their class attendants.)
A great way to attract good personal trainers is to offer them a free set of custom business cards when they commit to their first class at your gym. These can be order from trusted online printers at very affordable prices, and will build you lasting relationships with your trainers that will bring you thousands of dollars in the long-run. One things for sure: personal trainers and dedicated fitness classes are the best way to upsell your gym opportunity.