It’s July and we’re still unsure what COVID will ultimately mean for the fitness industry. COVIDs continued mutations, Governments changing stance on letting fitness clubs open and the upcoming termination of unemployment insurance benefits keep owners and executives guessing on just about everything.
What we do know is that participation at venues will be smaller both due to fewer members returning and fewer members being permitted inside at one time. We also know that Government benefits for unemployed workers are scheduled to end in the near future unless additional legislation is passed. With so much uncertainty about the economy and the pandemic it’s probably wisest to wish for the best and prepare for the worst.
What are some things the industry can do to be ready for anything?
The industry and all of it’s individual Gyms and Studios will need to maximize the revenue from those that do return to physical locations. Luckily, the people returning are going to be the truly dedicated fitness enthusiasts looking for diversified experiences, locations and pricing structures.
The question is, how do we provide a diversified AND collaborative membership experience for consumers that does not cannibalize current memberships or revenue and increase competition? Simple - provide premium memberships to those that want MORE than their current membership but are unwilling to purchase 2 or more unlimited memberships…
GymWisely is a game changing platform that offers their Partners existing memberships to the entire market. GymWisely then creates, markets and sells Supplemental (reduced usage) memberships to members of OTHER Gyms and Studios.
Bob is trying to choose between a Membership at Gym A or GYM B, both of which cost $100 per month. He likes Gym A better but ultimately chooses a membership at GYM B because its closer to his home.
Normally Bob’s journey ends there. With GymWisely though, Bob can buy a Supplemental Membership at Gym A for, say $25 (or wherever Gym A chooses to sell it) so that he can have 2 memberships at a rate he can afford.
He is still paying MORE than he was, but less then the full cost of 2 memberships. This is a win win win for the industry, the club and Bob!
If your a A quick demclub owner or exec looking to boost revenue, recurring memberships and retention, a no cost GymWisely partnership is worth a look. It could get your fitness business a 20% revenue boost in year 1! Set a 15 minute Partnership Demo today!
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Author: Rick Annichiarico, Founder & CEO GymWisley.com