Club Industry’s recent list of the top one hundred health clubs of 2015 discussed the most financially successful gym companies in America. While seeing your company’s name on this list may feel like a pipe dream, there are a few takeaways that your health club could easily incorporate to achieve overall success. Here are a few of the common denominators that were present in these successful gyms:
Acquire Other Fitness Companies
Companies on Club Industry’s list saw huge growth in the last year. One of the most fundamental ways to grow as a company is acquiring other health clubs. By out-performing your competitors and acquiring their declining businesses, you may expand your brand while retaining additional members that belonged to the former facility.
Don’t Lose Existing Members
When acquiring other businesses, be aware that members from this facility are used to the offerings from this company, so be sure you can deliver similar or better options when converting an acquired fitness facility. Accommodations can include maintaining their old club subscription for the remaining time before moving over to your membership plan or offering discounted fees for a limited time.
One common mistake that Club Industry alluded to was switching to a low-priced model too quickly. While this tactic may seem like the perfect way to keep up with competing low-cost gyms, it can result in an extreme revenue drop and overall hurt your company financially. In addition, existing members may prefer paying a little more per-month for a superior gym experience. Address their questions and concerns before converting to a new business model.
Thoroughly Do Your Research before Opening New Locations
According to Club Industry’s list, the most successful American gyms resided along costal areas like California, Florida, and New York City. However, this correlation doesn’t mean your gym has to be in one of these areas to be successful. In fact, the competition is far steeper there than In other locations. Make sure you have done your research when choosing the most beneficial and ideal location for your fitness center.
You can determine the best location by attaining demographic information for different areas, as well as knowing where your competitors have opened facilities as well. Build a new health club where demand is high but competition is low. Also, be aware of all factors that go along with opening a brand new and successful health club, such as selecting and purchasing new fitness equipment and allocating enough space for said equipment. Finally, make sure that you are building within city regulations, as they can differ from state to state.
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