20 Apr How good is your gym doing?
How good is your gym business doing?
Starting from location of your particular gym to the customer experience you are providing to the people in the society. Your gym is transforming many lives and bringing a huge awareness about fitness on how better their bodies can be in their life, but of all this how is your business doing?, Is the next big thing in the market everyone wants to understand.
DO YOU KNOW? There are 80% of unbranded gyms in India and 20% of branded gyms? Roughly in any location there are multiple gyms across the vicinity opening every day in India.
Operational Expenditure Vs Profits:
People tend to invest in fitness ventures as this has only one-time investment and less monthly expenditure, the average profit percentage of the gym on the revenue is close to 30-45%, and every gym/fitness business can optimize to the new virtual trends to cut down costs on their operational expenditure and give the most of profits. But is your gym giving you 45% of profit on the revenue generated?
All the gyms face the biggest challenge to hire the best trainers, sales managers, fitness heads to sustain their business. Once the hiring is done the next important challenge would be to train the team to your gym process and set the targets. At Gym Consultants India, we have trained multiple teams with our industry experts and have seen the wide difference between the team which is trained properly to a certain process and the team which is not trained. So, is your team trained to match your business standards?
Marketing & Sales:
Every gym business depends on walk-ins for their revenue to generate, and follow the oldest of marketing strategies like flyer distribution and posters everywhere. And recently people have started to use social media for their promotions, but do you know, you are only reaching the 30% of crowd with this marketing? Our marketing & sales strategies helped many gyms grow 25% more in the first month and 5% more every month afterwards.
Gyms in India has the lowest customer retention due to continuous evolving of the new trends coming into the industry, and every customer wants something new every week, but what is your club doing better to improve your customer retention. We have observed that building a community in the gym, participating in social activities and having a proper event calendar in the gym to motivate the customers, help a lot in the customer retention.