The fitness industry has exploded in recent years, with gyms and studios popping up, on what feels like, every corner. So, with so much competition, how do you cut through the white noise and ensure your fitness business remains relevant and stays the distance?
Clarify your purpose
In the day-to-day grind of running your business and trying to ensure it’s making you money, it can be easy to lose sight of why you are there. What do you want to achieve for your customers? What do you excel in? What contribution to the fitness industry are you here to make?
If you can articulate your purpose to yourself, it’ll make it so much easier to bring your business offering into focus. That in turn means you’ll clearly brand yourself in the marketplace and show why you’re the best choice out there.
Every industry has its problems, and businesses that can solve those issues will always stand a better chance of success. That might sound intimidating but it doesn’t have to be – just think of it like looking for opportunities to improve on what everyone else is doing.
Do a bit of local research and find out what people are complaining about when it come to the local fitness industry, or what they think they’re missing. For an obvious example, are you in an area with lots of young families with mums who can’t get to the gym because they have young kids? Then consider offering a few classes a week with child-minding.
Keep up with the latest trends
If there’s something the fitness industry isn’t short on, its new trends. Hot yoga, cross fit and HIIT are just some of the ‘next big things’ that have popped up in recent years. And now there’s the new kid on the block; ninja training.
Of course adopting each and every new innovation might not be right for your business, but it’s important to keep your finger on the pulse and identify opportunities you can capitalise on. The successful businesses are the ones delivering what customers want.
Make sure you’re adding value
Everybody likes to think they’re getting a good deal, so to stand out from the crowd make sure you’re adding value at every opportunity. That doesn’t mean slashing prices to non-profitable levels though. It’s about offering incentives or extra services that aren’t going to smash your bottom line, but will attract and retain customers.
It could be as simple as having PT clients receive an email after their session outlining what they should be eating post-workout and stretches they should do before bed; or maybe offering members customised incentives.
While a crowded marketplace can be daunting, it’s important to remember that it also means demand exists and the product or service is viable. So, if you can put strategies in place that make you stand out from the masses, your business should always stay relevant and, more importantly, profitable.