Gauging the cost of gym memberships can be difficult for gym owners and managers, but are crucial for your fitness club's business and success. 

This article discusses what to consider and how to evaluate the cost of gym memberships for your fitness club. Membership fees now vary in style (time-fixed price for unlimited use, pay-by-class, optional pricing for access at different times of day, etc). As a manager, you are tasked with finding the appropriate cost of gym membership while driving up profit and standing up against the competition while still making your customers feel like they are getting a great deal. 

The cost of gym memberships accounts for more than just monthly membership fees. Some of the most successful pricing models factor in alternative membership pricing and special services unique to your fitness club. Although determining the cost of gym memberships can be tricky, they will be the centrepiece that allows your club to grow, and obviously, profit and be successful over time.

Retention is the holy grail of gym management and the process of working to keep your members from churning is as multi-faceted as it is difficult. Understanding just how to increase retention means understanding why members leave in the first place. There are many reasons why gyms have retention problems, including loss of motivation, the cost of gym memberships and not enough time. 

Luckily, there are a few different gym member retention strategies and best practices you can put into place to make sure that your members are properly cared for, motivated, and getting the support they need to stay active and motivated.

Increasing member lifetime contract value by separating the cost of gym memberships into tiers and offering different payment options for members will decrease the likelihood that they churn for financial reasons. Find out how you can leverage first-party data when revising the cost of your gym memberships to increase member retention.

Did you know that acquiring a new customer can cost five times more than retaining an existing one? As a gym owner, it is crucial to place equal emphasis between customer retention and new business. In this article, we explore the notion of customer lifetime value to show you why it is crucial to your gym’s success and suggest strategies to increase customer lifetime value.

Customer lifetime value (CLV) is the total worth to your business of a customer over the whole period of the relationship. CLV is a vital metric, because as we pointed out in the introduction - it costs more to keep hold of an existing customer than to attain a new one.

Adjusting the cost of gym memberships is a strategy that will increase customer lifetime value. Every member is unique, each with their likes and preferences. To keep members satisfied, you should consider offering flexible memberships that reflect members’ preferences, for example, class-only membership or gym and class membership. The cost of gym memberships should also reflect their offering, class only membership should be cheaper for example.

If parents make up a big part of your customer base, finding time for a workout can be a complicated task. Finding gyms with childcare is like hitting the jackpot for many parents because it allows them to get in some exercise and have a little bit of time to themselves.

In short, adding childcare services to your gym or fitness studio is bound to increase memberships. In this article, you will find the information you need to help you to take that next step to get started. 

It’s possible to increase your bottom-line revenue by creating varying costs of gym memberships and offering package deals for existing clients with a reduced membership fee. Being creative with childcare price plans can incentivise a lot of parents. It could be the difference in choosing your gym over another. 

Introducing fun activities in your offering can also mean additional revenue, you can create custom gym memberships aimed specifically at the younger members with the cost of gym memberships being reflective of that.