Running a gym and selling gym memberships is not as easy as it use to be. Most beginners believe, that running a gym is all about having high-quality fitness equipment, a personal trainer, and a good music system.
However, it’s more than just that. To stand out in the fitness industry and get people to sign up for your gym, you need to have a lot of strategies that can make your gym more appealing than the others.
One of them is by having a good pricing system for your gym memberships. A lot of people are looking for gyms that offer affordable rates without compromising the quality of service. If you can find a way to offer this, then you’re on your way to success.
Let’s find out how exactly you can do this!
Why does gym membership pricing matter?
Just like clothes, shoes, or any other product, people are looking for value when they’re buying a gym membership. They want to make sure that they’re getting their money’s worth, and that the quality of the service is good enough to justify the price.
This is why you need to have a competitive pricing system for your gym memberships. If you can find a way to offer a good price without sacrificing quality, then you’ll be able to attract more customers and grow your business.
How to make your gym’s membership pricing more competitive?
When you run a gym business, you are already in a competitive landscape, which means that you need to find ways to make your gym more appealing than the others. Setting a competitive pricing system is one way to do this.
Let’s take a look at some tips that can help you:
1. Find the average gym membership cost in town
Most local gyms and health clubs have similar membership fees, so you must find out the average cost of gym membership in your town or city. You can do this by conducting research online or by asking around. Once you have an idea of the average cost, you can start to adjust your prices accordingly.
2. Offer multiple membership options
Another way to make your gym’s membership pricing more competitive is by offering multiple membership options. This way, you can cater to different budgets and needs. For example, you could have a basic membership that’s more affordable, and a premium membership that has more features and perks. Or if you have a steam room, leisure centres or basketball courts, you could offer memberships that include access to these facilities.
3. Offer discounts and promotions
Discounts and promotions are always appealing to customers, so if you can find a way to offer them, then you’ll be able to attract more business. For example, you could offer a discount for signing up for a lifetime fitness membership or giving them a gym contract that’s valid for a year.
Promotions are also a great way to attract attention. You could have a ‘gym-opening’ promotion where customers can get a free month of membership if they sign up within the first two weeks.
4. Give a trial period
Trial periods are a great way to let customers try out your gym before they commit to a membership. This way, they can see if it’s the right fit for them. You could offer a one-week or two-week trial period, and then give them a discount if they sign up for full membership. If you offer personal training services, you could also give a free trial session to potential customers.
5. Offer package deals
Package deals such as ’10 classes for $100′ are always appealing to customers. Most gym chains around the world use this strategy to get new customers in the door. People love to feel like they’re getting a good deal, so if you can offer them a package that’s better than what they can get elsewhere, then you’ll be able to attract more business.
6. Give them some extra
Offering a pure gym experience with no added extras can sometimes be a turn-off for potential customers. For example, let your members use cardio equipment while they wait for their free weights to become available. Add a TV to the cardio room so they can watch their favorite shows while working out.
Common mistakes gyms make with their membership pricing
Now that we’ve looked at some tips for making your gym’s membership pricing more competitive, let’s take a look at some common mistakes that gyms make:
1. Not doing enough research
When it comes to setting prices, it’s important to do your research and find out what the average cost of a gym membership is in your area. If you don’t, you could end up charging too much or too little, which would put you at a disadvantage.
2. Not understanding the needs of your target market
Having a target market is extremely important if you want to be successful with your gym. You need to understand their needs and wants to cater to them properly. If you don’t, you could end up losing business to your competitors.
3. Not being flexible
It’s important to be flexible when it comes to setting prices for your gym memberships. This means being willing to negotiate and offer discounts when necessary. If you’re not flexible, you could miss out on potential customers.
4. Not offering enough value
If you want to attract new customers and keep them coming back, you need to make sure that your gym offers good value for money. This means offering a wide range of services and amenities, as well as competitive prices. If you don’t, you could find it difficult to retain customers.
5. Not promoting your membership properly
If you want to attract new customers, you need to make sure that you’re promoting your gym membership properly. This means using all available marketing channels to reach your target market. If you don’t, you could miss out on potential customers.
6. Not having a good retention strategy
It’s important to have a good retention strategy in place if you want to keep your gym members happy. This means offering things like loyalty programs and discounts, as well as providing excellent customer service. If you don’t, you could find it difficult to keep your customers coming back.
How to make your gym stand out?
Now that we’ve looked at some tips for making your gym’s membership pricing more competitive, let’s take a look at how you can make your gym stand out from the crowd:
1. Offer unique services
One way to make your gym stand out is to offer unique services that your competitors don’t. This could include things like personal training, group classes, or even childcare. If you can offer something that nobody else does, you’ll be sure to attract the attention of potential customers.
2. Find a unique name or brand
Another way to make your gym stand out is to find a unique name or brand. This will help you to stand out from the crowd and make you more memorable. For example, Planet Fitness or Touchstone Climbing would be a good choice for a name.
3. Have a convenient location
Another way to make your gym stand out is to have a convenient location. This means being located in an area that’s easy to get to and has plenty of parking. If you can make it easy for potential customers to get to your gym, you’re more likely to attract their business.
4. Not having an online presence
In today’s day and age, it’s important to have an online presence if you want to be successful. This means having a website and being active on social media. If you can’t be found online, you’re missing out on a lot of potential customers. Make sure to post content regularly and find ways to increase your traffic.
So there you have it! These are just some of the things you need to think about when it comes to making your gym’s membership pricing more competitive. If you can follow these tips, you’ll be sure to attract new customers and keep them coming back. Thanks for reading!