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How to Boost Your Fitness Studio’s Revenue by $5,000 Per Month
Every fitness studio owner knows that in order to keep their business running, they need to generate revenue. But more revenue doesn’t always mean doubling down on your marketing efforts to bring in new members. Often, there’s a simple way to get more revenue from your current members … and you don’t even have to change your membership prices.
The answer lies in the products you sell outside of memberships. These can include water, sports drinks, t-shirts, branded gear, etc.
But we’ve seen the best results from fitness studios that sell dietary supplements.
Here’s why it works …
How and Why it Works
Every trainer I’ve ever had has recommended I add some sort of supplement into my fitness routine. That’s because working out more, combined with cutting caloric intake (remember that fitness is 80% diet and 20% exercise), leaves the body lacking some key vitamins and nutrients. And if you’re like most fitness studio owners and personal trainers, you probably prefer some brands of supplements over others and recommend your members buy those.
But here’s the catch …
Unless you have a really great referral partnership with a local nutrition store (think GNC or Hi-Health), you don’t make a single dime from those purchases.
How is that fair?
The truth is it’s not … and it’s not very business savvy, either. The better solution is to carry a line of supplements in your fitness studio, right next to the protein shakes and the branded t-shirts. This is great for 2 reasons:
- It lets your members relax because everything they need is already right there in a convenient location. You become their one-stop-shop
- It lets you keep that revenue for YOUR business instead of sending it to the store down the road
And that revenue can add up fast. We broke the numbers down in Episode 054 of The GSD Show, “How to Create Long Term Additional Revenue & Retain More Members:”Here’s a quick recap: 80% of Americans already buy supplements, and typically spend an average of $50/month (though in the fitness world, this amount tends to be higher). The average fitness studio has about 300 members. Let’s say that you’re only able to get ⅓ of your members to buy supplements from you directly instead of the full 80% (that’s 100 members).
If each of those 100 members spends the average of $50 at your studio, that’s an extra $5,000/month in revenue for your fitness studio.
Popular Supplements People Look For
So if you want to get into the supplements game, you should know which supplements your members want and need. These can include vitamins, minerals, and other compounds that help the body function at a higher level. Typically the best supplements to recommend include:
- Vitamin C
- Vitamin D
- And more
Matt Blanton, owner of CrossFit Back On The Bar, is a pro at this, and he gave us a full list of his preferred supplements to recommend in Episode 052 of The GSD Show, “Easy Nutrition Plans for Your Members’ Success:”
How to Sell Your Supplements
If you don’t already sell supplements in your fitness studio, I highly recommend partnering with DotFit. They’re an awesome platform that connects fitness studios with their members to create nutritional plans, track nutrient intake, and provide the supplements you need to get this program off the ground.
You can learn more about DotFit here and in Episode 054 of The GSD Show.
But whether you partner with a nutritional company or create a supplements program yourself, certain strategies can help you sell more:
1. Place Them Prominently
You’ve probably heard the old saying, “Out of sight, out of mind,” and that’s exactly what you don’t want when it comes to selling supplements. As with anything else in fitness, getting your members to start taking supplements regularly is all about helping them for a habit around it.
To get that habit started, create a supplements display where your members are guaranteed to see it regularly. This could be …
- At the front desk, so they see it when they check in
- At the snack bar, so they can easily grab their magnesium with their after-class protein shake
- Their own, separate display area that you set up in your studio
2. Talk About Them
The next step to helping your members create a habit around supplements is to talk about them. When you draw up a nutrition and exercise plan for a member, be sure to include which supplements they should take (including how much and when). Explain to them what each one does and why it’s important for their nutrition and fitness, so they get why you recommend it.
Then, tell them you actually carry your favorite brands right here in the fitness studio if they want to go ahead and get started with them. You can mention that it saves them a trip to GNC or Hi-Health, and it narrows down all the brands for them to choose from.
But the talking doesn’t stop once they buy a bottle of vitamins. When a member checks in with you before or after their workout, ask how the supplement regimen is going. Ask if they feel any different or if they’ve noticed a difference in their workouts. If the supplement came in a cool flavor, ask how they liked it, or if they would prefer a different flavor.
You should also know approximately when your members will run out of each supplement, based on the amount in the bottle and the amount you recommend they take. You can set up an email campaign to automatically remind them when it’s time to restock. You should also bring it up in the studio so they remember to buy another bottle while they’re there.
This leads us to our next point …
It’s not enough to just sell your members supplements and leave it at that. There has to be a level of accountability there as well. Your members should know that taking these supplements is something that’s expected of them, just like following the meal plans you laid out for them or doing the recommended classes and workouts.
Hold check-ins with your members on a weekly, biweekly, or monthly basis to go over all of the things they’re being measured by. Depending on their goals, this can include:
- Weight lost/gained
- Body fat percentage lost
- Inches lost/gained
Set the expectation for your members that you’ll ask about their supplements during these check-ins. This is a way for your to measure their success based on their fitness goals, so it’s something they need to be prepared to commit to just like their nutrition and exercise.
This kind of tracking also gives you the proof you need to show the value of your supplements program to future members.
Have you implemented this strategy at your fitness studio? Shoot us a message and let us know how it’s worked.