• EDUCATE. EMPOWER. SUCCEED.
  • Subscribe
  • E-Newsletter
  • Media Kit
  • Contact
  • Login
Club Solutions Magazine
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • E-Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide
No Result
View All Result
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • E-Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide
No Result
View All Result
Club Solutions Magazine
No Result
View All Result
Home Column

Retention: Strengthening Your Retention in 2017

Kevin McHugh by Kevin McHugh
January 18, 2017
in Column, Operations
0
retention
Share on FacebookShare on LinkedIn

Retention is an important aspect of your club business. With this in mind, here is a top tip to help guide you as you manage retention at your health club.

Tip #1: Know Your Real Retention Numbers

In my 24 years experience in the health and fitness industry, I continue to be amazed at how club owners and managers have different ways of calculating their retention rates. It can be a very simple formula that takes out all subjectivity and provides one, clear financial statistic.

Your retention rate equals the number of members enrolled in the club, divided by the number of memberships who left your club that month, and multiply that number by 12. This formula does not account for reasons such as moves out of market, sickness or other reasons why a member is no longer paying membership dues to your club.

The simplicity of this formula is based on your most important financial line item being membership dues. If a club manager wants to explain that number more fully and better understand their retention rate, they can provide a narrative that explains the retention rate. Explanations and understanding the factors affecting a club’s retention level are important, but they do not get deposited into the bank.

Knowing your real retention financial numbers and addressing where the shortfalls — as well as gains — are being made, will positively impact your financial growth in this area.

Also, with regards to knowing your retention numbers, it is strongly recommended that club owners and operators build a yearly business plan that is focused on their retention efforts with the traditional monthly goals and promotional calendar.

Retention rate = memberships at start of month/the number of members that have left that month and no longer are paying membership dues x 12 months.

There always appears to be a constant in our health and fitness business that when we know and focus on our numbers, opportunities arise that allow us to grow our business. In 2017, I invite you to look at your retention numbers and achieve results that exceed both your expectations and budget for the upcoming year.

In the upcoming months, I will provide 11 additional areas that can positively impact your success in strengthening your overall retention performance, realizing that many health and fitness centers are already working in these areas.

Strengthening your retention rate will help you create your best year ever in 2017!

Tags: operationsRetentionstrategy
Previous Post

Operations: Creating a Risk Management Culture

Next Post

New Combi-Cam E RFID Electronic Cabinet Lock

Kevin McHugh

Kevin McHugh

Kevin McHugh is the chief operating officer of The Atlantic Club. He can be reached at kevinm@theatlanticclub.com.

Related Posts

Attracting Talent
Column

9 Tips for Attracting Talent in the Fitness Industry

September 25, 2023
Gen Z Members
Column

Create Meaningful Experiences for Your Gen Z Members

September 18, 2023
How To Human
Column

How to Human – Part 1

September 11, 2023
Hospitality
Column

The Importance of Hospitality in the Fitness Industry

September 5, 2023
Retreat
Column

5 Things I’m Looking Forward to at the 2023 Leadership Retreat

September 1, 2023
Ideal Club Experience
Features

Creating the Ideal Club Experience

August 29, 2023
Next Post
FJM Security Products

New Combi-Cam E RFID Electronic Cabinet Lock

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Facebook Twitter Instagram LinkedIn
Club Solutions Magazine

Club Solutions Magazine is the #1 business resource for the health and fitness industry. Established in 2003, Club Solutions provides best practice, business resources that educate and empower health club professionals.

EDUCATE. EMPOWER. SUCCEED.



The Current Issue

September Issue 2023

September 2023



Browse

  • Home
  • Subscribe
  • E-Newsletter
  • Media Kit
  • The Magazine
  • Buyer’s Guide
  • Contact Us

© 2023 Club Solutions Magazine. Published by Peake Media.

No Result
View All Result
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • E-Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide

© 2023 Club Solutions Magazine. Published by Peake Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In