Richard ToutounjiDirector, Meet Your Network · Connecting fitness & wellness suppliers to our marketing community.

The insane truth about gym memberships you didn’t know 🤔

27 Apr 2023 · 1 min

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0:49

In this video, the speaker provides practical advice for gym owners on how to adjust pricing and expand membership offerings to retain members and grow revenue during challenging times. Key recommendations include lowering casual rates strategically, adding low‑cost in‑studio services, and introducing varied membership structures such as bundled packages, off‑peak discounts, age‑specific plans (juniors and seniors), family plans, and trial memberships. By diversifying membership lines, gyms can open new revenue streams while preventing member loss.

Chapters

If you're going to look at pricing, what you should charge, just calculate, like if you've got a casual rate, let's say for example, you're going from 50 to 30 and your casual is $25, stay at the studio and maybe you've got some other services that you can offer there that don't actually cost you any more to have open. Some other things that just some to think about where you can look at some other options is like bundle memberships, off-peak memberships, memberships by age, juniors, seniors. Family plans have worked really well in the past for some of our clients and trial memberships. And so sometimes, yeah, if you've been in that one model, you can look at some different scenarios to get through these times to make sure that you're not losing people, you're still growing the business. And to grow the business, you may need to open up new revenue source to do that, new membership lines to do that.