Gym memberships are a no-brainer when it comes to making a profit. People love to work out and get fit, so they're willing to pay big bucks to get their daily sweat sessions in.
However, selling gym memberships can be tricky. Many clients prefer to deal with well-known franchises or local gyms where they can get free personal training sessions or complimentary snacks. So how do you create an irresistible offer that will have people lining up at your door?
What Are Gym Memberships?
A gym membership is a contract you enter into with a health club. It gives you access to facilities and equipment such as gyms, pools and fitness classes. It's the cheapest, most convenient way to get in shape and stay that way.
It allows you to use a gym and its equipment whenever it's open. When you purchase a gym membership, you save money on individual memberships to different gyms within your area. Many companies include gym memberships in their employee benefits as part of a wellness program.
How Can Gym Memberships Increase Profit for Your Gym?
Health clubs and gyms rely on memberships for the bulk of their revenue. When memberships increase, gyms should see an increase in profit through additional revenue generated from personal training and higher member retention rates. The profit increase from gym memberships allows you to strengthen your brand, improve facilities, and expand services—all of which will continue to generate additional revenue for your business.
When you purchase a gym membership, you're telling the gym you want to be there. Gym members provide an in-demand clientele and can increase revenue for your business by adding a new revenue stream and increasing customer retention.
What Are Gym Gift Cards?
Gym gift cards are virtual cards that can be used in place of traditional payment methods. Gym gift cards can be redeemed for any membership, including personal training and dietary consulting services at thousands of gyms worldwide.
Gym gift cards are a fantastic way to ensure that your friend or loved one has access to their favorite gym. Gym gift cards come in different denominations and can be used in aerobics, aquatics and fitness centers. They never expire, so you can use them whenever you're ready.
How Can Gym Gift Cards Increase Profit for Your Gym?
Gym gift cards drive business and increase profits for gyms large and small. A gym gift card is a way to get your membership base clients more excited about their gym membership. It can help your gym increase profit and sales by allowing customers to purchase new memberships, sign up for classes or buy additional equipment.
Gym gift cards are also great recruiting tools for gyms looking to gain new members and incentivize their current members who may have fallen out of love with their gym. Gym gift cards work great for those who want to try out a new gym or facility and for those who might not be able to afford their monthly membership if they were paying cash.
What Is the Difference Between Gym Memberships and Gym Gift Cards?
Gym memberships offer exclusive access to certain facilities, amenities and programs at the gym where the membership was purchased. A gym gift card can be used wherever it is accepted, including any program or service at any participating location in the continental United States.
Gym memberships are month-to-month contracts, while gym gift cards can be used immediately until the gift card balance is depleted. The membership at a gym usually costs several hundred dollars, and the cost is nonrefundable. In comparison, a gift card for a gym has no expiration date and is suitable for as long as it has value.
Gym gift cards are a great way to give someone the gift of health without having to decide which gym membership or program is best for them. With a gym gift card, recipients can choose their products and services with the help of representatives at any gym.
How to Sell Gym Memberships and Gift Cards
Gift cards and memberships are potent tools for small-business owners like you because they bring in immediate and predictable revenue. However, it can be challenging to get people excited about paying for a gym membership or a gift card. These are some creative ways to sell gym memberships.
Offer Trial Memberships
Give your customers the gift of a free trial membership. This will allow them to experience your gym's facilities and services before committing to full-time payments. This is suited to customers who are looking for a low-cost entry point into the gym and want to experience what the membership has to offer before paying big bucks. They can get a feel for classes, group fitness activities and equipment they may want or need while trying it out. Make sure you also offer easy cancellation policies so customers can try out your service for a week or two without worrying about cancellation fees.
Show Off Your Gym on Social Media
Use social media to brag about your gym. Share photos showcasing your equipment and the different kinds of classes and activities that you offer at your gym.
Social media marketing is a great way to get the word out about your gym and build a community. Use hashtags specific to your gym's location or niches, such as #healthyliving or #gymmotivation.
Create Virtual Tours
Virtual tours are precisely what they seem to be: a visual tour of your gym. You can show off your facility with 360-degree photos and VR technology and make it look amazing! It works even better if you include sound effects, like the music that plays in the background or the sounds from behind the scenes (like fitness equipment moving or people working out).
Give people a feel for the facility and the classes, then ask them to take a quick survey that asks questions based on what they learned on their tour. Find out how they felt about their experience and let them know how they can purchase a membership or gift card quickly and easily. Consider adding an FAQ section so you can also provide a space where people can research basic questions and concerns before joining.
Reward Referrals
Reward referrals and boost the value of your memberships with a referral bonus program. Create a schedule for current members to get a percentage back on their monthly membership dues for every new member they refer or reward them with a gift card or merchandise. This is an effective way to spread the word about your gym, encourage new memberships and increase retention.
Offer Early Bird Deals
Early bird deals are incredibly effective for selling gym memberships and gift cards. Like an early bird special at a local restaurant, this offer is enticing because it makes members feel like they can get something extra just by signing up before the deal ends. At your gym, give your guests discounted membership rates for being the first to sign up, plus a gift card for getting started.
Sell Discounted Corporate Memberships
Boost your revenue with discounted corporate memberships and gift cards. Discounted corporate memberships are a great way to grow your gym's membership base. Instead of selling each membership at a total price, you can offer a substantial discount on an annual membership. This entices prospective members to sign up for a whole year in advance so they don't find themselves facing any financial surprises during their first month at the gym.
What Are Some Frequently Asked Questions About Gym Memberships?
What Is a Good Price Range for a Gym Membership?
When looking for the right gym membership, you must keep several factors in mind. First, find a gym that provides all the equipment and services that meet your specific needs.
Gym memberships are typically more economical than personal training sessions. A good range for a gym membership is $30-$40 per month. This price will allow you access to state-of-the-art facilities and equipment, as well as trainers who can help you reach your goals. Be sure to shop around to know how much prices vary from gym to gym for similar services, facilities and amenities.
Are Discounts for New Members an Effective Way to Increase Profits?
Discounts for new members may be effective for increasing revenue in the short term, but not for profit in the long term. People tend to use their first visit but not pay any recurring membership fees.
Is Selling Gym Gift Cards Effective for Gaining Memberships?
Yes, selling gym gift cards can be very effective in gaining memberships. Not only is it a great way to increase the knowledge of your business and brand, but the member that receives the gift card will be more likely to come in and sign up for membership.
The recipients of gift cards often have a motive to use them, especially if the value is high and they haven't been able to afford gym memberships in the past.
In Summary
Selling gym memberships can be very lucrative for your business and gives your customers the opportunity to achieve their fitness goals and improve their lives.
When you sell gym memberships, you earn the sale plus a percentage of the transaction. Gym gift cards sell quickly, easily and often at a higher price than their face value. The key to successfully selling gym memberships is offering a service that the customer thinks is worth more than you charge.
