When gym owners first decide to start their own business, they probably imagine that the bulk of their income will come from bringing new members into their classes, or working as a personal trainer for others. However, what many gyms discover once they get up and running is that a nice stream of additional revenue comes through retail.
It might not be part of your original business plan, but opening a store at your box can be a great way to pull in a significant amount of extra income each month. In other words, it’s not really a question of ‘if’, but ‘how’ you should sell fitness products and maximize your monthly income. Here a few tips for how to make the most of your gym’s retail store:
One of the common pitfalls gym owners fall into is stocking their limited shelf space with exciting (read: pricey!) products they love rather than things athletes actually need. Think about the basics your members may have forgotten, like wrist wraps, tape, or water bottles.
Clothes are great profit-earners and practically a necessity at CrossFit boxes. Whether it’s t-shirts, hoodies, leggings, or socks, there are many online services that can help with trendy and affordable graphic designs for clothes that will appeal to your members.
Many gyms are finding success stocking protein powders and supplements on their shelves. Energy drinks and post-workout shakes are also good possibilities, or even bottled water!
Wodify Core software allows gym owners and administrators to view detailed reports on a number of categories, including retail sales. From clothing to gear, it’s easy to see what items members are buying, and who’s buying them. Wodify Core helps owners keep an accurate inventory so they can make strategic business decisions from month to month.
Emails, SMS, and in-gym posters are all ways to communicate with members about the new and updated items you’re offering them. Wodify Core includes the tools to make the process stress-free.
Opening a retail store at your box can provide significant revenue, especially considering the man hours required versus the return. Take the initiative and let Wodify Core software help you make the most of your gym’s earning potential!