Is your cross-training centre profitable? Even if your answer is yes, it is time for a change of direction. Circumstances have forced businesses of all kinds to reinvent themselves, and yours is one of the most successful. So why not do it again? To prove to you that it’s possible, in this article we will show you how you can increase your box’s income and take it to the top.
Why diversify your centre’s income?
Before we begin, let’s ask you to do a little self-criticism. Do you think your business has a diverse source of income? Please note that it is considered to be so when it meets the following criteria, among others:
- It receives money over over and above the monthly fees from its customers.
- It has solid medium-term economic gains, at the very last.
- It has a well-established system of additional services in the sector.
If your centre is dedicated eclusively to being a place to train, you will be missing out on great opportunities. The key is to broaden the offer so that your visitors see that there is “something more” behind the activities.. If they have to leave your box for guidance or to complete their training, you must act quickly.
But how does diversifying your income at your cross-training centre help you? These are just some of the reasons why you should rethink your business’ financial strategy:
- Ideal for renovation . Receiving funding from different sources will enable you to make decisions for the future. If you know that you will receive money from different sources, it will be easier for you to invest in your gym.
- Insurance against unforeseen events. In a downturn such as the one we experienced in 2020, there is a greater chance that certain revenues will remain in place.
- Competitive advantage. Stronger financing gives a head start on the competition, at least from an economic point of view.
Ideas to increase the monthly income of your box
Here’s something to keep in mind: there is no one secret to improving the profitability of your cross-training centre. Do you know why? Because there is no one way, but it is based on measures that you have to adapt to your business. However, we can identify several keys to pave your way to success.
What do you sell in your gym? Today’s studios stand out for more than just their equipment. Simply because they allow their customers to “take something away”. This option has become quite popular, as it is even a way to gain visitors who, over time, can become regulars.
Thinking about the products you are going to sell in your centre is not easy, we know that. Fortunately, there are ideas that tend to work quite well, such as sportswear or supplements. However, this offer is quite well known. Our advice is to innovate by putting the customer in your sights, but make it your own.
After having created a stock, it is time to make it known to the sportsmen and women who trust your centre. By the way, you can grant them exclusive discounts. For the rest, you have the option to have it relatively under control with a good advertising campaign and adequate positioning for your website.
2. Additional services
It is important not to confuse additional services with complementary activities, which will be discussed later. There is one thing you have to have in your studio, and that is training. Keep in mind that beginners will never want to start in a centre where they will not be taught. Professionals, for their part, need to continuously improve and adopt new techniques.
But beyond training, there is a whole world of services that you should incorporate. Among them, we highlight nutritional guidance, which would position your centre as a benchmark in your sector. The idea is that no customer should have to go somewhere else looking for “something else”. Provide them with everything they need and they will stay.
Lastly, we would like to suggest one of the gym strategies that always works. Have you thought about renting rooms? If you have some a part of your gym that will be free at certain times then you could rent out part of your gym. Many people prefer to train with their group in peace and quiet, and this is a target audience you may not have considered until now.
3. Extra activities
cross-training is what defines your sports centre, the extra activities are what will set it apart. Do you think you have a sufficiently attractive offer or do you need to change it up? We definitely recommend that you include a new range of activities so that your visitors can discover something else outside their routine.
One of the most common ideas among athletes is that training in a gym becomes boring over time. Consider that very few people will last the whole year doing the same exercises, if only with some variation. For this reason, imagination (and demand analysis) are your best allies.
4. Online training
Even centres that we reluctant to use new technologies adapted to sport have had to get used to them. Obviously, you know what we are talking about. Your clients already know what it’s like to train at home, the year 2020 has shown them. So why not join the new times?
During the confinement, gyms across the country needed to include routines and videos on their websites to reach out to their regular visitors. However, the times have changed and now this is not enough: something more is needed. Above all, it is best to innovate and try new solutions.
Our advice is to explore the capabilities of online training. This will give you the possibility to offer live classes for those who do not have the time to travel. Remember, be original and stand out from the competition.
As you have seen, increasing revenue in a crosstraining box is a question of renewing and updating. New times call for new solutions to adapt to a completely different customer profile. Want to know what they are? Take a look at our article and find out how to avoid customer churn. Dare to change!