As a business owner, sometimes it can feel like you spend a lot of time keeping up with your competition, or even worse…. worrying that you're being beat by them!
One way to try to trump your competitors, is to focus on what you are offering, don’t give your members reason to look elsewhere, or give prospects a reason to consider training at other gyms.
Having a structured equipment replacement program in place will go a long way to help you achieve this.
When a prospect walks into your gym, there is every chance the first thing they will take note of is the equipment. What you have, the condition it is in and if it is worth them paying the weekly fee to use it.
Just have a conversation with any gym owner that has been in business for a number or years and they will tell you that equipment is a huge factor when it comes to retention of members. It is such a huge factor we dedicated an entire article to it. CLICK HERE to read about how you can use equipment to increase your retention rate.
We know what you are thinking, yeah new flash equipment is cool but it is expensive and the business can’t justify that expense.
We understand! We are a business too and we understand that when push comes to shove something must give. But we don’t want to see your competitors take your members, so we have a solution for you!
The answer: have a structured replacement program in place!
Confused? Here let us break it down for you
You’d be wishing on a lucky star if you think that you will never have to replace the equipment in your gym. Reality is, it gets used and you can’t expect something that gets used everyday to last forever. The good news is that your equipment will expire at different times.
Think about it, how many bumper plates have you had to replace verses how many rowers have you had to replace? With this in mind you can start to plan when you will need to replace what. So start to think through all the equipment in your gym, how regularly it gets used and what the wear and tear is like.
After a quick little audit of your gear you should have a good idea of what needs replacing or maintenance and how much longer you will get out of it.
Still not sure when you should be replacing your equipment? Check out our guide on when you should be topping up your gear in your gym.
Your plan doesn’t have to be spot on, the idea is that you are prepared for replacing something when the time arises.
This leads us to the next point
There is no point planning for new equipment if you don’t have the funds to then buy it.
Now this can be approached in a few different ways.
Another tip on budgeting;
Purchasing high quality gear is a great way to ensure you get the most out of your purchase.
Here is a scenario for you
You buy a kettlebell for $60 but it only lasts for one year. Whereas you could buy a better-quality kettlebell for $140 but it will last you for 5 years. At the end of those 5 years you could have spent $300 on multiple kettlebells or $140 on just one! Now multiply that but all the equipment in your gym!!!! It really does pay to spend the extra money initially to save yourself in the long run.
What if you could get a discount on new gear by trading in your old gear?
I know it doesn’t seem possible to have a deal that good but here at Again Faster we understand the frustration of having to replace gear. So, we introduced our Bumper Trade In Program. This program allows you trade in any brand of bumper for a discount on new ones. What better way to give your members the quality gear they deserve.