As many brick-and-mortar gym owners and operators continue to see the lasting effects of COVID-19 on revenue reports, facilities are finding creative ways to increase revenue.
The year 2022 has seen an increase in innovative profit center approaches in the form of stretch labs and recovery centers, as well as a resurgence in large group personal training. The goal is to find low-risk, high-return revenue streams that allow businesses to diversify program offerings and meet the fitness customers’ needs. Utilizing existing spaces and repurposing them for stretch and recovery areas has become very popular and quite lucrative. Some facilities have gone a step further to seek outside-of-the-box solutions by developing programs that include large group personal training formats that offer a boutique, studio-like experience, giving customers both the flexibility of a gym experience and the personalization of a studio.
The industry has also seen a rise in customers’ willingness to attend facility-led classes and programming outside of the gym’s walls. Community building groups like walking and running groups and triathlon training programs are on the rise. Customers who would have never attended a class outside are now actively seeking outdoor workout experiences.
For many fitness industry folks, the last few years have been the most challenging times of their careers, but the silver lining is industry ingenuity and creativity are at an all time high and customers are engaging in new and meaningful ways with the fitness industry. Now is the time for fitness industry leadership to seek out ways to continue to bridge the revenue gap with creativity and excitement. Don’t be afraid to try something new — your customers are ready for it.