by Lori Eggers, TRX Editor
In a time of sweeping global change and a shifting economic climate, when consumers are tightening their belts and being more discerning about where they spend their hard-earned cash, fitness professionals around the world are gauging the potential impact on their careers and businesses and adapting to stay on track. Here, business guru Thomas Plummer explains what club owners, managers and personal trainers need to do to compete in the current marketplace.
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There has been a strong surge of low priced competitors entering the fitness industry during the last several years. It is predicted that 80 percent or more of all mainstream clubs in the country will be charging $19 a month by the end of 2013. Competing in the $19 market requires an entirely new business model that few club owners understand or are able to make work effectively without getting new information. Most importantly, is this lower priced model something you should even be considering for your business?
The $19 model is based upon two things: volume and the ability to continually replace lost members over time. The major point most club owners don’t realize is that when you lower your price, the expenses do not go down accordingly. You just need more people to pay the bills, and what you are betting is that the $19 price will attract many more members than your $49 price did.
The business model most owners use and have copied for years, based upon what worked 20 years ago, simply does not hold up in competitive markets, but most owners either refuse to change their business practices or don’t know what to do and merely keep trying to use tools and techniques that failed years ago.
To compete in this industry, smart owners will be the ones who use $19 as a base and then chase training revenue, which can easily be done if you really focus on the training programs you offer and start differentiating yourself from the competition this way.
Many clubs and fitness centers nationwide have already started to realize this is the way to stay ahead of the pack and have begun integrating TRX Suspension Training into their facilities to increase member retention and drive revenue while maximizing space and minimizing costs. For more on their success stories and to learn tips and tools you can implement at your facility, visit the TRX® Clubs page.
If you’d like to learn more about the changing fitness landscape or read Thomas’ predictions for the industry, visit his website or make plans to see him at one of his seminars in 2012. TRX will be there to illustrate how TRX Suspension Training® and TRX Rip™ Training are great group strength training options for those clubs looking to differentiate themselves from the competition and appeal to cash-conscious consumers.
Thomas Plummer has almost 30 years of experience in the fitness industry helping fitness professionals become more successful in their businesses and their lives. He founded the Thomas Plummer Company (TPC) in 1991 as a vehicle to help independent club owners get information and help to grow their businesses at a time when there were few other choices for education and guidance in the industry. He founded the National Fitness Business Alliance (NFBA), a group of industry leaders who provide education for independent fitness professionals.
TRX® is the world’s preeminent producer of physical training equipment, exercise programming and education designed for trainers, health clubs, military users, fitness-minded consumers and athletes of all levels. TRX® designs and sells original products of innovative design and premium quality construction, including Suspension Training® and Rip™ Training equipment and exercise programs that are changing the way athletes train for sport, soldiers train for combat, physical therapists rehabilitate patients and exercise instructors train their clients. The complete line of TRX® products, training programs, education and accessories can be purchased directly from TRX® online at http://www.trxtraining.com. For more information on TRX® products, education and programming, call (888) 878-5348 or email firstname.lastname@example.org.