There is a dramatic shifting landscape in the fitness industry in Malaysia. Working out at a gym is no longer about a long, silent, sweaty session for hard muscles and good health. Customers are transforming, and so are their requirements and aspirations. As with all types of business ventures, operating a successful gym business needs good knowledge about the industry and careful planning. There are some of the factors you should consider like location, competition, supply, demand, adjusting your business model and promotion. Let’s look at some of the essential factors that will contribute to a successful gym business.
Use best fitness equipment
You need to have some good commercial fitness equipment to make your gym shine in front and succeed as a business. There is no requirement for fancy and expensive fitness equipment if you don’t have space. But, to make your gym business successful, you have to provide your members with different types of quality equipment that they can use. At F1-Recreation Malaysia, we provide top notch commercial fitness equipment to you.
Know your business supply and demand
Demand for gyms may be high in KL but so is the supply. Same goes for niche gym setups and other forms of fitness centers, as the business owner, you need to gauge and forecast the demand and supply in your area. As business owner, you need to understand the market in your area :
- Is the surrounding community health cautious?
- Are there other gyms or centers in the area?
- Are there any rumors of potential competitors moving into the area?
When you are running a fitness center / gym business, you have to focus on the needs of your customers. As a business owner, consider what is good for your gym members and offer the best. You have to ensure your members do not feel pressured and they exercise at their own pace while enjoying each round of exercise. You can use the following ways to increase membership engagement:
- User-friendly online presence (social media)
- Developing group exercise programs
- Creating onboarding programs for new members
Know your competitor
As mention earlier, competitor is one of the factor for the gym owner to be aware. As business owner, you need to ask yourself :
- What makes your gym different from others?
- Can you survive if another (perhaps bigger) competitor moves in next door?
Another thing you need to consider is the location. Study potential business lots and calculate rent, costs, overhead, traffic, flow of people in the vicinity, other crowd pulling businesses etc. The location could make or break your business.
Offering free good health programs
While you doing your best to provide the best commercial fitness equipment, you will also have to ensure that your gym provides good health programs as well. This is quite important and should also be included in your activity list. Offering free programs is a marketing strategy, however, think of it as a service and offer the best you’ve got. For example, you can conduct classes and follow up for all your members about a good diet plan and everything about good health.
Advertise your own product or service
You should not simply market your gym with its fitness equipment only but also aim to sell a product or a service. Many gyms sell their own health products, meal plans, and workout equipment. This can be a great method to make sure that your gym business not just operates as a monotonous workout space, but gets plenty of real business and succeed in the industry. You can advertise your products via online platform (use Facebook, Tiktok, Youtube, Instagram) and print media.
Increase gym membership and profit
If you want to make your gym business unbeaten, you have to know the right way of marketing. That is to focus on increasing memberships and profits. If you want to make your gym more profitable, then you need to increase the number of members in your gym and then everything comes into place.