There are a few signs that your fitness facility may be failing: the decline of membership sales, the increase of membership cancellations, and/or the disapproval of your facility from members. If you are experiencing any of those signs, and hopefully not all three signs, you’ll need to ask yourself as a fitness facility owner and a business person a few questions and you’ll have to be brutally honest with yourself.
Important Questions to Ask Yourself
1. Would you consider your facility a viable business? Take a look at your equipment. If you have equipment that’s worn out and patched with duct tape, your members won’t be motivated to work out and may be disgusted. There are a lot of gyms with new and clean equipments.
2. Do you have the time and money to restore stability to your club? If you noticed those grim signs early on and have a decent cash flow, you have a higher chance of turning things around. If you were late to notice, then you’ll need professional help. We recommend The Retention People. They are leading providers on improving membership retention.
3. Is your current management team truly committed to the success of the facility? Your current management team may be the reason for your facility’s downfall. Assess your management team and replace the malfunctioning pieces.
4. How do you envision your facility should operate? This is crucial because without a definitive idea on how your facility should operate, you will waste time and money.
It wasn’t easy being brutally honest as we like to think that we’re not as bad as we think, but this honest brutal assessment is a necessary step in order to restore stability to your club.
Tips to Restoring Stability to Your Club
1. Get a grip on your finances. Remove all unnecessary spending and only pay what will keep you in business.
2. Establish a marketing plan. Do your research and find out why certain facilities are successful and others are not. Go with what’s proven and remove what is destructive.
3. Look into a complete gym management software. You will save yourself a lot of time (more than we can quantify) if you have a complete gym management software. You’ll be able to: see day to day activities, manage contact management system, view detailed reports, reduce management staff cost, and increase online membership purchases.
4. Communicate with everyone involved in the process of restoring your club. Communication is KEY as you’ll reduce confusion and save yourself valuable time.
Restoring stability to your club is not an easy process. You’ll have to manage everything with caution and know the risk moving forward and always be prepared to deal with the challenges.