When you first open, you want to grow your gym as quickly as possible without over extending yourself. During this period, you’ll feel like you’re missing out on potential memberships and loosing clients because you don’t have enough equipment or the right mix of equipment. It’s a tough one and you’ll struggle with this notion until you get a clear plan in place. Have a quick read below for a nice and easy plan to follow.
This is key! If you are charging a premium for memberships, members will expect a premium experience. Having to wait for gear or having to share equipment often may start them wondering what their membership is buying them.
So start there: Make a list of the gear that your members are regularly having to wait to use or are having to share and think about buying that gear first.
Next, make a list of the gear that you will need to round out the programming that your members need. For example, if you’re membership base is mainly beginners, you’ll most likely need a few extra technique barbells or maybe some lighter implements like dumbbells, kettlebells or medicine balls to provide the stimulus your members need to progress. Particularly, if the group is not quite progressing in weightlifting lifting as quickly as you’d hoped they would.
On the flip side of the coin, if you pick up a few advanced members, you may need to top up your barbells or bumper plates since you now have several members that can move some serious weight.
You’ll know what’s best for your membership group. Put that gear on your list too and see how it fits into the top up budget.
This category mainly concerns Air Bikes, Rowers, resistance bands, ect. As an example, I was working with a gym recently who needed to add some gear to their equipment stock. I asked a few key questions to find that several clients were having trouble running in the warm up and during the work outs. It seemed that those members’ attendance was dropping which of course is a danger sign when thinking about retention.
I suggested getting couple of Rowers and an Air Bike. Long story short, the gym owner was told by the members that they were planning to cancel their memberships, however, they now felt like they could stay because they were able to scale and get a good workout even though running was a key component of training.
Of course, a couple of thousand dollars if a lot of money. However, if you stand to lose five memberships if you don’t spend it, spending $2K sounds like the right thing to do.
You've probably left a few things off the initial order due to the budget. It’s okay, every gym owner needs to make hard decisions. So, make sure to use this opportunity to top up your equipment stock so you don't miss out on any potential memberships while you are growing.