A recent study of 2,000 adult Americans offered three very interesting pieces of data for gym owners:
- 62 percent of survey respondents with a “wellness routine” said related expenses would be one of the last things they would cut due to inflation.
- 83 percent said they believe cutting a wellness routine would end up creating greater long-term costs.
- 47 percent believe aging and sickness are inevitable and have no hope of preventing them (the Generation Z and Millennial numbers were 7 and 9 percent higher, respectively).
The survey was commissioned by Restore Hyper Wellness and is focused mostly on the recovery services Restore offers (intramuscular vitamin shots, infrared saunas and red-light therapy, cryotherapy, compression therapy, etc.). You can read it here, though much of it won’t interest the average gym owner who focuses on coaching rather than recovery services.
That said, the general numbers listed above should offer some comfort to microgym owners who are nervous about the coming recession.
It’s great to know the majority of people in this survey won’t put fitness services on the chopping block. The data confirms what Two-Brain founder Chris Cooper stated in his article “Beating the Recession”: Recessions aren’t necessarily bad news for microgym owners who sell coaching. Clients who can afford and clearly see the value in your high-value services won’t cancel at the same rate as people who signed up for $29.99 monthly memberships they aren’t even using.
But if you’re still nervous about the effects of the economy on your clients, you’d do well to keep highlighting the benefits of your services. Whenever you see info that details how fitness reduces stress, improves sleep, or makes a person more likely to avoid certain diseases or afflictions, tell your clients about it. And congratulate them for investing in themselves.
Don’t assume every client knows or always remembers how important fitness training is. Tell them regularly so they hear your voice in their heads when they go over their budget numbers. Your big win will be when they mentally mark the fees for your services as an “investment,” not a cost.
When it comes to growth, you might consider creating some content for the 50 percent of people who think sickness and significant age-related declines are inevitable. Fitter people can avoid a host of diseases, and they’re generally more resilient when they do get sick. And we all get old, but fitness training is the best way to preserve and even improve capacity. Tell the world—regularly! If you do, you might even add a few new members who are desperate to reduce stress, avoid illness and remain independent as they weather the recession.
The worst plan: Do nothing.
I’ve given you two media tactics you can use today to retain your clients and add more even as inflation soars. But there are many more:
Two-Brain Business will publish a tactical recession survival guide for fitness entrepreneurs in the Gym Owners United Facebook group. To get it, join the group today and watch for Chris Cooper’s post on the morning of Oct. 25. If you’re new to the group, check out Chris’s pinned post on growing a kids program—that guide can help you diversify your revenue stream very quickly.
And if you want to go even further and get a tailored plan to stabilize and grow your gym during the recession, consider working with a Two-Brain mentor. To find out more about that, book a free call.
