When you are getting your gym up and running it can be really challenging to get all the gear you need to accommodate for new members while trying to retain existing ones. Cash is tight, you are time poor and keeping track of all the little things you need to be doing can be difficult stay on top of.
No problem, we’re here to help!
We can help you stay on top of growing your equipment list, so you don’t miss out on any new memberships or lose any existing ones. Read on to find out how.
One thing that he's been helpful to a lot of gyms is to set up a budget to save money for new equipment right from day one. At the start, it may seem like it's impossible to do this, however, it's something that you should really try to do. If you can save even as little as $100 per week, at the end of the month, you will have up to $400 in your equipment top up fund ready to spend on new gear that you need to continue to grow your business. If you think about what $400 could buy you, you have a chance to top up your equipment stock with some critical gear that will help you gain new members and retain your existing ones.
So that’s step one: Make an equipment top up budget from day one and stick to it.
Another helpful idea is to map out your next 12 months of programming and see what that looks like. This way, you'll know where you are heading it will give you an idea of the gear that you will need to buy to get you there. Also, after you've been open for a while, you’ll get an idea of any trends that are happening in the gym. This will give you a bit of vision for the future months and you'll be able to apply that vision to the type of equipment that you might need to buy. Clearly, this list may be completely different from what you were thinking originally so it's a good idea to remain flexible but also have a good plan in place to keep you on track.
So that's tip number two: Map out your next 12 months of programming to get an idea of the type of gear you'll need to invest in, in the coming year.
Of course, you also need to take stock of your current situation. The way you do this is to keep your eyes open during class time to get an idea of the equipment that is a priority to invest in next. Also, get some feedback from your coaches so you know what the needs of your members are from a few different perspectives. Finally, it is important to listen to your members, of course, they are the ones who are paying you after all, but keep in mind, you are the one with the master plan.
Tip number three is to keep your eyes open while on the floor to take note of the gear you need to get next and listen to feedback from coaches and members to get a balanced perspective of what gear you need to invest in as the gym is growing.
Now that you have a good idea of the gear you need to add to your equipment stock; the next step is to make a list. When you have made your draft list, run your eyes over it a couple of times to make sure that it's a good list and not just a wish list that is going to send you broke. Keep in mind, you are growing at this stage, and the goal is to capture as many new memberships as possible while retaining as many existing memberships as possible at the same time. Every piece of equipment needs to have purpose to bring in a new member or to help keep an existing one.
Tip number four is to bring all your data together and to make a list. This is the fun part - everybody loves shopping for new toys, just make sure the gear on this list serves a purpose and that purpose is to generate more revenue for the gym.
Now, if you don't have the cash up your sleeve to buy all the gear that you need to keep your gym humming along, keep in mind there are several finance options available for you. If you used finance for the initial purchase of your equipment, it's possible that you may be able to add this purchase to your initial finance deal. Just make a quick call to your finance broker to find out if this is an option for you.
If you haven't used finance in the past, that's no problem at all because we can set you up with one of our finance partners to help you get a great finance deal happening. The process is simple and one of our finance partners will help you through it step by step so don't hesitate to ask about getting finance set up for you. It's a lot easier to set up than you think and could be just what you need to help keep the cash flowing and your members happy.
To make it simple for you, all you need to do is get in touch and we'll take care of the rest. Whether you need help putting together your equipment list, or if you need to be set up with a finance partner, just get in touch, and we’ll show you how simple the process is.