Running a fitness business is a beautiful challenge. Like each entrepreneur, you have to work for your business, and optimize your strategy to maximize success. Member demand is ever-evolving and you need to keep adapting your offer to this demand. One way to keep up with demand, which provides plenty of added value to a gym, is to set up a Point of Sale in your club. Selling gym merchandise adds to the workload, but it is worth it, since it boosts your business and improves your member experience. Here’s why.
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1. Gym Merchandise Helps You Increase Your Revenue
You are a fitness professional. And no matter how passionate you are about your job, you should never forget that you are running a business. It should pay off. Of course, integrating a new business approach takes some effort, especially at the beginning. The same counts for gym merchandise. But this effort has a very simple goal: increasing your revenue.
Selling merchandise is an easy and obvious way to do so. By selling merchandise, you provide an additional service to your clients and directly increase your income. It is just another step in making your passion to your profession.Your average ticket size will be directly affected by this activity. The amount of money your clients spend during one time slot will increase significantly. And you do not even need to sell 15 different brands and hundreds of products to get there. When you’re starting out, it is better to start selling from one to three brands. This way, you will have the chance to get used to your new business model and evaluate how your members will react to it.
First, you can go start with regular items like protein bars or powders. Or you can go ahead and come up with some special ideas like fitness bras for women, lift gloves or even earbuds! Time by time you can introduce more products. And if your clients have forgotten some of their equipment, they will be very grateful if they can buy replacements from you instead of doing a round trip home and losing time. If you do not want to take care of the sales yourself, another possibility to sell the merchandise is to just set up vending machines. This demands less effort, and you spend less time managing it.
Fitness software can help you run your new additional activity by managing all your data in one place. You can easily enter all your products in an online Point-of-Sale and save time you would usually spend on tracking your inventory, managing the payments as well as tracking your sales and growth. It will help your business make the next big step, just take the leap!
2. Fitness Merchandise is a Growing Market
Both specialized media and fitness experts agree that the healthy food industry is expanding and people are more and more aware of what they eat and what is good for them. According to the Global Industry Analysts, Inc. – a reputed worldwide publisher of market research – the global sports fitness nutrition foods and drinks market will reach US$ 60.8 billion by 2020 and increases by 4% each year. Along the same lines, the global sports and fitness clothing market is projected to reach US$ 196.2 billion by 2020.
All in all, selling performance gym merchandise, which is a similarly growing market, is a smart way of boosting your business growth.
3. Fitness Is Not Just About Working Out
Working out without taking care of the nutrition is not efficient. Actually, the good balance between sport and nutrition is definitely the key to reaching most of the customers’ objectives. Take advantage of that opportunity by proposing performance products. That being said, make sure to sell products you know. Your members are aware of the fact that working out is part of the way to reach their goals, but some people don’t know that at least 50% of reaching their goals is all about nutrition. And you are there to help them to find that out. Obviously, helping your members to reach their goals is a win-win situation: they will happily feel more confident and hence more loyal to you which helps you increase your client retention.
4. Gym Merchandise Strengthens Your Member Community
There are different ways to strengthen a community, which is something important for client engagement. People no longer go to the gym just to train: they are looking for social interaction, for a community to belong to. Everybody likes to exchange tips and advice about the best way to get in shape. Passionate people love to talk about the latest protein bar or gloves that they’ve found. Everyone enjoys belonging to a group in which one can find like-minded individuals . By selling from one to three food brands, and/or selling clothes,for instance with your gym’s name, you will strengthen your community of sports lovers.
To make this community even stronger, don’t hesitate to use social media. Create a Facebook group or manage an Instagram account to interact with your members. You have to increase your client engagement and this is a way to do it. Be a leader and take part of the community you’ve created.
5. Because You Are An Expert
You have all the knowledge in sport and wellness. You must know what is – and what is not – good for the body. People are trusting you. They expect to learn from you about a healthy lifestyle and the best way to achieve their goals.You must be able to give your members advice and suggest them products with benefits. So, what’s better than directly selling these products at your gym? The same goes for clothing products. You can sell good quality fitness clothes, that you are using yourself or which you consider valuable. Nowadays there are lots of technical clothes, solely created for sports purposes. The time for cotton t-shirts and sweatpants is over. The fitness clothing industry is becoming more innovative and nowadays we have breathable t-shirts, lighter shoes, you name it. An infinity of new products that you can offer to your members.
As a fitness professional, whether you are a personal trainer or a gym owner, it is normal to think about possibilities to grow your business. A recurrent question is about selling gym merchandise or not.
All in all, it is relevant for an expert as you are to start selling gym merchandise to add value to your service. For your members, you are a professional who is there to help them to reach their goals. They expect some help, advice and that you share your knowledge with them. Presenting new products lends credibility to your business, and shows that you know what you are talking about. But be aware of one rule: only sell products you know.
Maybe it seems complicated to launch your new venture, but if you start selling only a small amount of brands, you can evaluate the success quickly and easily. You can also use a software with a “Point of Sale” option to help you effectively start this new business approach.