Health Club (2,800+ members)
The draft $70,538 settled
The fails 9.91%
Service Fee at 2% $1,410
Merchant fees $1,975 (credit cards and ACH)
Late fees $2,030 collected
Late fees returned to club $609
Profit share late fee amounts SHAPENET 70%; Club 30%
Actual monthly cost to the club $2,776 (Service Fee at 2% +Merchant Fees – Late Fees)
Competitor’s Costs $4,725 (Service Fee at 3.9% + Merchant fees)
Monthly Savings with ShapeNetFinancial $1,949 Actual Annual Savings $23,388
This is real data from a health club in Oklahoma.
Gold’s Gym (7,000+ members)
The draft $161,439 membership settled; $34,285 recurring PT settled
The fails 6.75% membership; 11.48% PT
Service Fee at 2% $3,914
Merchant fees $4,580 (credit cards and ACH)
Late fees $4,095 collected
Late Fees returned to club: $1,023
Profit share late fee amounts SHAPENET 75%; Club 25%
Actual monthly cost to the club $7,460 (Service Fee at 2% +Merchant Fees – Late Fees)
Competitor’s Costs $12,213 (Service Fee at 3.9% + Merchant fees)
Monthly Savings with ShapeNetFinancial of $4,753 and Actual Annual Savings of $57,036
This is real data from a 42,000 square foot Gold’s Gym located within one hour of Washington, DC.
At June 1st, the membership totaled 7,200 and their Medallia score was 55.4.
