How the rise of athleisure is going to bring your gym or fitness studio 10-20% more in revenue
People want to wear your stuff. If people love your studio, they’ll be happy to sport the logo. And don’t say, “But they already have clothes/mats/waterbottles, they won’t want to buy mine.” They do. They’ll buy it because you’re convenient and trendy, and because your clients want to feel like they’re a part of your community.
Plus, studios that sell clothes and equipment tend to bring in 10-20% more revenue than studios that don’t. So if you aren’t selling merchandise at your gym or studio you should be. Use the tips in this article to help you get started.
Athleisure culture is on the rise. In 2014 consumers just in the United States spent $323 billion on sportswear and accessories. The trend is still going strong today, which means a lot of potential revenue for your business.
You also have the opportunity to turn your clients into walking advertisements for your business. Sell items that people want to wear and use, and your clients will be your best marketing tool.
Before you get ahead of yourself, you need to determine who you your audience is. Are you the new place on the block looking to recruit more yogis? Are you a seasoned studio tending to dedicated regulars? If you aren’t sure who your best clients are (in this case, the ones most likely to buy), take the time to build a competitive analysis to find your advantage.
Either way, you’re still going to need the basics: mats, water bottles, yoga props, yoga pants and yoga tops. Don’t feel the need to get crazy with the colors at first, but you will want to switch up styles and such every once in awhile to keep it fresh because you’re fun and exciting, right?
So now that you know what to sell, you need to know how to sell it and to whom. The key to catching a client’s eye is to put it right in front of them. Literally. Pretty much everything you’re selling should be at eye level of your clients. Try putting yourself in your client’s shoes: have you ever been in a retail store, reached to swipe your card and gotten the sudden idea that the $.99 gum, chapstick or chocolate bar are now a necessity? Target the impulse! Most people making a purchase don’t think twice about 99 cents, so put out a couple of those items on the counter in an aesthetically pleasing arrangement. Don’t put too many things out, though–you’re a studio, not a gas station!
If you run a gym or fitness studio, a few other things you can (but kinda should) include are deoderant, rollerball perfumes, bracelets, nutritional bars, water spritzers, dog leashes, lotions, tea and essential oils. The prices for these should all be around $5-10. You want to have a solid mix of common and uncommon items to:
Again, none of these small items should be so expensive that your potential clients begin to deliberate the decision to buying–they’ll just take their business elsewhere and habitually overlook your retail the future.
Finally, don’t forget to change out the display case of these items on the counter during seasonal and holiday changes. People tend to pay no attention to things that stay the same, and that’s not good for business.
Most importantly, make sure that you are stocked with a little something there for every one of your clients–men, women and children if necessary! If you’re just getting started and your clients are beginners too, put together something like a “beginners basics” pack of a mat, a towel and a water bottle at a convincing price. This could influence buyers to become more interested in their studio, especially new people from a customer-growing promotion like Bring A Friend Day. If you have been around for awhile, include this and set a budget for different varieties of styles to determine what your clients like the most.
If you’re a Pike13 customer, you can make retail purchases easier for clients by giving them the option to charge their purchases to their Pike13 account. Not using a cash or card influences people to buy more stuff and buy it more often, so stock up on the little things! Lastly, be sure to list your items online with your Pike13 app! People can notice them when signing up for classes and seeing an item twice (online and at the studio) could just be the thing to make them decide to buy it.
Do you sell some unusual or fun retail items at your business? We’d love to hear about them in the comments!
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