As you passionately plan marketing, operations and revenue streams for 2024, with big eyes on the January prize and the watershed month of new members that we have all been waiting for, let’s not forget one thing:
It ain’t over yet.
With only two months left in 2023, Fitness Industry Council of Canada reached out to one of the brightest business minds in the industry, Chris Cooper of Two-Brain Business for his top five strategies for generating revenue to end the year strong – and no, Black Friday isn’t high on his list. “The best gyms in the world don’t offer discounts, and they don’t need to,” says Cooper. “You’re not selling a product, you are selling a service. Instead of creating a Black Friday discount that could hurt your business, increase the value of your service by offering bonuses. More value beats a lower price!”
Cooper, who has helped thousands of gym owners become more profitable through his company Two-Brain Business, his consistent stream of value-added newsletters, and his Facebook Group Gym Owners United will be sharing his Top 5 Tactics to Generate Revenue to end the year at the Fitness Industry Council of Canada free webinar on Friday, November 17th. Each of the tactics shared will have Step-by-Step plans, calls to action and will be easy to implement for all business owners looking to grow more revenue as we finish 2023.
Here is a sneak peak:
1. Retail Pre-Sale
The energy and psychology of Black Friday are real, and while retail sales won’t generate as much revenue as personal training, nutrition counseling or coaching, most members won’t think twice about dropping extra money on a shirt or hoodie (and, they also become a walking promotion for your brand!). “Every single dollar counts,” says Cooper. “If you can make money, and get your clients to happily wear your logo, that’s a huge win.”
In addition, apparel sales do not take time. You can also coordinate a pre-order plan with certain clothing companies (there are many online that do this) and only purchase what is already sold. Cooper recommends contacting an apparel provider immediately to get the ball rolling, announcing a pre-order period to your existing clients, and then promoting it heavily on social media.
2. Gift Certificates
Give the gift of wellness! Your clients are not only your best testimonials and Google Reviews – it just takes gentle nudging to get them to bring a friend. You can even position this tactic around Black Friday – giving the gift of wellness instead of an espresso machine (but you can also do both!) “People are always on the lookout for thoughtful gifts for the people they care about. Solve their problem, and make money doing it,” says Cooper. He proposes keeping it simple, and creating three gift certificates in your booking and billing systems: 1-month of group training, 5-pack of personal training, 10-pack of personal training. Too many options and too much choice can stall the process.
3. Run-A-Promo: Save your Spot for January
Are you offering a Total Body Reset? Or you just want to generate buzz for the New Year? Run a promo “Save Your Spot for January.” The genius behind this tactic is you can save a spot for anything – PT, nutrition coaching, specialty classes. “The key is to motivate people to commit now. But you have to generate a sense of urgency in them,” says Cooper. He suggests picking a popular service and promoting it on social media and in your newsletter, then following up with a Call to Action that includes a reason for your clients to ACT NOW. “Your trainers WILL be busier in January,” says Cooper. “This is guaranteed. Create a Save Your Spot promo to get clients into the time slots they want.”
If you want to know more about each of these tactics, how to employ them with precision, and several other Year End Revenue ideas, register for the FIC free webinar here.
Fitness Industry Council of Canada (FIC) is the not-for profit trade association that represents the voice of fitness facility operators across Canada. Representing more than 6,000 facilities with more than six-million members nationwide, FIC pursues a legislative agenda in the hope of bettering the fitness industry for both consumers and operators. FIC aims to work with both industry and government to improve the health and physical activity levels of Canadians.