In our first installment of the Retail Results Series, we addressed the core question of: Why Retail? TLDR: done right, in-gym retail is both financially beneficial and provides great value to your members and coaches. The further you can extend your fitness influence the stronger and more dialed in your gym community will be.

In this second installment, the fitness retail experts at O2 Pure Hydration™ discuss How to Retail.

Whether you’re a retail veteran or a green recruit, there are always three key elements in evaluating your retail plan: 

1. Location and visibility
2. Sales process/POS
3. Vendor selection

Below, we’ll cover each of these elements and provide specific, actionable guidance you can implement at your gym to address How to Retail.  

Location and visibility

Don’t underestimate the value of location and visibility in your retail plan - they’re the keys to the kingdom.  

A highly engaging, attractive, can’t-miss retail location is the primary sales tool driving awareness and interest in successful gyms. Hide your retail and you won’t see any profit. 

Actionable guidance: 

• Foot traffic is key: put your retail center where people will see it the most; frequently, it’s next to your primary entrance, front desk, or workout check-in station (think: Wodify Kiosk)
• Keep all your retail in one defined space: don’t spread it across the gym 
• Budget $500-$1,000 for your retail space: this is a revenue and profit driver for you, and is worth the cost
• Invest in displays: a shirt rack for shirts, a fridge for drinks, and so on; make sure it’s sized to the items you’re selling and not just “overflow” from somewhere else  
• ‍Follow the big guys: let the big retailers be your guide; they invested millions so you don’t have to

Sales process/POS

Don’t choose a POS for your POS, if you know what we mean. This is often a huge pain point for gym owners and a chokepoint that slows retail sales. Your sales process should be quick and easy, just like everything else in your gym - except maybe the workouts. 

The big differentiator is whether you have a guided or self-serve checkout process. Guided in-person sales typically result in higher revenue, but self-serve is most common and we should keep our focus there.

Actionable guidance: 

• You need some kind of POS system: look for a system that complements any fitness management solution - Wodify Core checks all the big boxes
• Consider using Bulk Billing (aka Minimum Cart Value) in your POS system: this aggregates small-ticket items into a single transaction, saving potentially hundreds of dollars a year in transaction fees (Wodify Core users can easily implement this by offering Store Credit or by turning on Minimum Cart Value)
• Manual paper sign-outs for small-ticket items are reasonable: theft is always a concern, but you can limit it by placing your retail area in a high-traffic zone
• Train your coaches and employees: your POS system is optimized when everyone knows how to use it 

Vendor selection

Category and vendor selection is the fun part of any retail experience for you and your team. Your retail options should reflect the values of your brand and be embraced by your coaches and staff - nothing drives sales more than passion for what you sell. 

Actionable guidance: 

• Define categories first, then move to vendor selection: this helps you build your space more effectively
• Multiple vendors for small-ticket items (e.g., drinks and snacks) is good: once your members know you sell a category, a wider selection will drive adoption and sales 
• Keep coaches and staff involved: getting their buy-in early will lead to a smooth rollout and more sales 
• Key vendor considerations: 
  • What are my margins going to be?
        - What’s a typical sales volume for a gym my size?
       - How can they help with materials, education, and samples to launch products and drive sales?
       - What are their most successful gyms doing to drive sales?
       - How can they help engage your coaches?
   • Consider a pre-order option for big-ticket items: this applies to products like equipment, or things that change frequently, like branded apparel

Wrapping it all up

The work, and the success, is ultimately in the details. Once you’re committed to retail, ensure you have a clear plan for visibility, sales process, and category/vendor selection to maximize your return and member satisfaction.    

Next week in the Retail Results Series we’ll give you our best tips for Retail Optimization. We look forward to continuing this journey with you! 

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Are you ready to get started with Wodify Core and learn more how the Online Sales Portal can help you sell more retail? Book a demo here!