Fitness entrepreneurs know all too well that this is the time of year Americans vow to embrace a healthier lifestyle and make fitness a part of their lives. Obviously, you’ll see more clients in the next few months at your studios and centers (or as private clients), but the key is to keep them (and attract still more clients) when the fervor of their New Year’s resolutions wears off.
How to do that? One way to keep customers is to offer value. If you charge by the month, for instance, consider offering a “subscription” program, that offers a discount if clients sign up for a fixed time period (six months or a year). While you’ll be taking in slightly less per client per month, you’ll be guaranteed a certain number of clients for that time period, helping stabilize your revenues. And once clients have enough time to establish a routine, they’re more likely to make fitness a habit, promising you a long-lasting customer relationship.
Another key to keeping revenue strong after the New Year’s rush is to offer products in addition to your services. Hopefully you’re already selling products to your customers. Almost every fitness entrepreneur can sell books, DVDs, equipment, clothing, or accessories to supplement his or her business income. New products are introduced regularly so keep your eyes open – you don’t want your product offerings to seem stale. If you sell clothing, for instance, look for fitness-wear in Radiant Orchid, this year’s Pantone color of the year.
Some other trends to keep an eye on:
- Yoga wear for men: Lululemon launched a men’s yoga clothing line, which now makes up 13 percent of the company’s annual revenues.
- Buff boomers: The Los Angeles Times reported “a slew of new gyms and exercise programs” targeted to those in the Baby Boomer age group. Since the youngest boomers turn 50 in 2014, there will be millions of potential clients for you to target.
- Target Gen Y: Reports show that 88 percent of Millennials engage in some form of exercise, so they’re a ripe target. In general, Gen Y is looking for places that offer price flexibility and more interesting activities. For example, KiwiSweat is a popup gym in New York City that offers classes held at various city buildings and landmarks.