True Power Of Reinvestment

by Compiled by Gymlink.Biz (Fitness Business Resource)

The True Power Of Reinvestment & Member Retention

Reinvestment in your facility on a regular planned basis is the key to your member retention and the future success of your fitness business. To keep members entertained and maintain their interest in your facility, to keep your member retention as high as it can be, and to keep competitors from putting pressure on your business, you need to reinvest on a regular planned basis.

Your members are your bread & butter and you need to show them that you appreciate their patronage. With regards to fixed equipment you need to show members that you really care about their needs and reinvest in new equipment. If you still have old treadmills breaking down all the time sooner or later your members will become fed up and leave, possibly to the club down the road. People expect quality these days, if you think you can get away with the same old equipment for the life of your business, then think again. Not only will your members leave, your business will be worth next to nothing when you decide to sell.

By reinvesting in your club, you send a message to your members that you appreciate their patronage, and they are more likely to refer their friends and family if they see that the club is always being improved upon. It’s less likely that someone would tell his or her friends to go to a facility that has never changed its equipment since the day it opened, especially when there is a facility in the area that has all the latest equipment, and plenty of it. Sure you could say that your members like it for other reasons, but sooner or later you’ll find even the most loyal of members will be tempted by your competitors continual reinvestment and modern approach to fitness.

When you do reinvest in your facility you really should let it be known to all your members before your do. Announce the purchase of your new equipment before it even arrives (make sure it does arrive though). Then once it does arrive, place a piece in reception or in a prominent area of your club so everyone can see it. You could even assign a trainer to it for the first few days or so. Make it into a big deal as this shows your members that you are reinvesting in them. Send out letters or email newsletters thanking your members for choosing your facility as their preferred place of exercise. Add it to your what’s new section of your website and let them know that your new equipment purchase was made specifically for them.

7 simple cost effective steps to keep your facility looking fresh

Paint: Touch up the paint in your facility every month or so to keep your place looking fresh. Your existing members will appreciate it and your new members will be impressed with a “new & fresh” looking club.

Floors: Make sure your floors are waxed, polished or vacuumed on a regular basis, depending on your surface. It’s the first impression that counts with new prospects and they will judge your business by the way it looks!

Move your Equipment and vacuum: Dirt and dust will gather under equipment, so move it once a month and vacuum. This not only keeps the place looking clean but also stops damage to expensive equipment such as treadmills, steppers, ellipticals and rowers.

Bathrooms: This is one place that you definitely need to keep looking fresh and clean. If a tile is broken, replace it! Paint the walls as often as is needed to hide scuffs, dust on top of lockers and fix any broken hooks and hinges. You could even add coat racks, fresh flowers or plants, paintings on walls or anything you feel would give the place a fresh outlook.

The Front Desk: Members judge your place by the way it looks, so a cluttered front desk gives a dirty unorganised impression. Only keep things on your front desk that are relevant or appealing to the eye of your member. Flyers and brochures can be placed on a table elsewhere, keep your front desk clean!

Clean the Mirrors: Mirrors are like driving a black sports car; they both accumulate dust very quickly and need to be cleaned every day to keep them looking nice and new.

Rubber Mats: Dust and dirt show up very easily on black rubber flooring, and when dirty actually look worse than what they really are. These need to be cleaned every day especially around the equipment and cardio machines.

To summarise, re- investment in your facility and paying attention to the above 7 areas will have a direct effect on member retention and also makes a future sale of your business that little bit easier.

If you are considering upgrading your equipment check out the Industry Suppliers Directory for a list of reputable equipment suppliers or second hand equipment dealers.