It’s no secret that the world right now is more expensive than it was 12 months ago. Whether it be fuel in our cars, heating in our homes or shopping in our baskets, our money is not going as far as it once did and running a gym is no exception.
In other words, running a gym gets more expensive every day!
The global fitness industry is expected to be worth over $100 billion by 2025 and we want to help you take advantage of this.
So, how can you make sure your gym is running at its most cost-efficient? Here are four tips to help slash costs and improve your bottom line in 2023:
1. Review your marketing
Selling more memberships seems like an obvious thing to do when the cost of running the gym is skyrocketing, however how you’re doing this can have a big impact on your costs.
Is your marketing efficient and effective? Are you wasting money on campaigns which are really not delivering results?
Analysing your marketing ROI is critical to ensure you’re getting bang for your buck.
Fewer but more targeted campaigns may be a better option during times of rising costs to allow you to streamline your marketing and reach the people who are most likely to join.
If you’re inexperienced in this area, we’d recommend discussing with a fitness specific marketing company who can point to the areas where you may be wasting valuable resources.
Analysing your marketing ROI is critical to ensure you’re getting bang for your buck.
2. Invest in energy-efficient equipment
If your gym is still using outdated equipment, it might be time for an upgrade. Not only will new, energy-efficient equipment help you save on your energy bills, but it will also appeal to eco-conscious members.
Yes, new equipment is a significant cost to a club. However, there’s a wide variety of finance options available for fitness businesses that can help with big investments while ensuring you get the benefit of the cost savings. 💰
The Ultimate Gym Growth Playbook!
Everything you need to understand prospective gym customers and build long-lasting relationships with members, old and new.
3. Streamline your operations
To cut costs, streamlining your operations is key.
Look for ways to automate processes, like membership management and billing. This will free up your staff’s time so they can focus on more revenue-generating activities, like selling memberships and personal training packages.
Staff who are trained in multiple disciplines can also be a cost-efficient way to run your club.
Be mindful of not overstretching your team, leading to poor morale and employees leaving, as hiring new staff is one of the biggest costs to any business.
Staff who are trained in multiple disciplines can be a cost-efficient way to run your club.
4. Reduce your carbon footprint
The costs of climate change are only going to increase in the years to come. This means that it’s important to start reducing your gym’s carbon footprint now.
There are a number of simple ways to do this, like switching to LED lighting and using recycled materials. Not only will this help save on costs, but it will also make your gym more attractive to eco-conscious consumers.
Marcus Eaton 👋
HEAD OF GROWTH
With over 10 years of sales experience, Marcus is passionate about connecting with people who want to make a difference in the fitness sector. With a strong competitive spirit and a true talent for problem solving, Marcus is always up for a challenge. In his free time, he can be found playing rugby and exploring the world, one country at a time.
👉 Continue reading: The Big Fitness Trends For Gym Owners In 2023
