Running a parkour gym comes with its unique challenges, but one common goal for every gym owner is to increase revenue. While attracting new members is important, First priority is optimizing revenue from your existing members. Focusing on average revenue per member (ARM) will insure your base offering is profitable, before scaleing your business up with additional members. In this article, we'll explore strategies specifically designed to help parkour gym owners boost their average revenue per member. Let's jump in.
1. Tiered Membership Plans Offering tiered membership plans is a proven strategy to increase revenue. By providing different levels of access and benefits, you can cater to a wider range of member needs. For instance, offer increasing weekly-class access to, exclusive access to advanced training sessions, and priority registration for special events in higher-tier memberships. Typically gyms offer three tiers of membership. A once-a-week visit option, a twice-a-week option and a three or more option. Be carful, many gym owners have found offering an unlimited class option to be more troublesome than value building as you will find many members treating your gym more like a daycare facility which can other effects on your total capacity and revenue potential.
2. Parkour Competitions Hosting parkour competitions within your gym can be a lucrative venture. Charge an entry fee for participants and provide prizes or trophies for winners. These events not only bring in revenue but also promote your gym within the parkour community. Both member-only events and public events can increase your ARM over the course of the year.
3. Parents Night Outs Consider running regular "Parents Night Outs" events at your gym. Parents can drop off their kids for an evening of supervised parkour activities, giving parents a break while you generate extra revenue. This can be a monthly event which builds a loyal customer base.
4. Special events (Nurf nights, movie nights, tag nights, etc...) Create engaging special events for members, charging a fee for participation. Make these events fun and unique from your daily classes. Members attending events will increase their average revenue over the course of the year substantially.
5. Parkour Workshops Organize specialized parkour workshops led by expert instructors. These workshops can cover advanced techniques or specific skills. Charge an additional fee for participation. Market these events specifically at your members who are ready to learn more difficult skills.
6. Parkour Camps Day camps and seasonal camps like summer parkour camps can be a significant revenue source during school breaks. Offering intensive training programs for kids and teenagers is a great way to boost revenue to both existing members and can be used to attract potential new leads.
7. Competition Team Establishing a competition team for serious parkour athletes can bring in additional revenue. Charge extra for specialized coaching, competition-related expenses, and access to competition training sessions. This can be a powerful up-sell to your advanced students.
8. Leadership Program Implement a leadership program for dedicated students, similar to those found in martial arts. Charge a monthly fee for participation, allowing members to progress through different leadership levels, each with its own privileges and responsibilities. This can be an ad-on to any of your existing membership levels, increasing the total transaction amount.
9. Parkour Merchandise Sell parkour-related merchandise like apparel, shoes, and training equipment in your gym's pro shop. Members can purchase these items as part of their parkour experience, providing an additional revenue stream.
10. Upsell Additional Services (Open gym) Consider offering open gym sessions as an upsell to your membership. Members can pay extra for flexible access to your gym outside of regular class hours.
11. Private One-on-One Lessons Offer private one-on-one lessons to members looking for personalized coaching and skill development. Charge a premium for these individualized sessions. Be sure you are paying your coaches an appropriate commission to ensure revenue flows into the gym and not only to the coach offering the lesson. Learn more here on this gym revenue and expense breakdown article.
12. Goal Review Sessions Regularly review goals with your clients. Use these sessions as an opportunity to upsell them into higher-tier memberships or additional services that can help them achieve their parkour aspirations more effectively.
13. Annual price increase keep up with inflation by increasing your membership prices by 3% to 4 % each new year. Create language about this in your membership terms and conditions and be sure to get signatures before rolling out this policy.
14. Increase your membership prices Most gyms under value their own services. With only 150 members your gym should be covering all costs and turning a profit. Refer to this article to see what an example of a healthy group-lesson based parkour gym might expect in their monthly expenses. Increase membership prices by up to 15% with a carefully crafted letter explaining the changes to your members. A small portion of members may leave but the added revenue will likely more than offset that loss.
15. Remove discounts Discounts can lower your ARM considerably. Removing discounts can be a quick way to increase revenue. Many successful gyms no longer offer common discounts like military or civil service discounts.
16. Sign-up fees Introduce a 1-time sign up fee fore new members to help cover the cost of acquiring that client.
17. Annual fees Introduce a once a year fee to all membership and punchcard holders. This alone can offset the cost of insurance for the whole year!
That was a lot of information! If you want to know what to tackle first and get experienced help along the way, speak with one of our business mentors today to receive tailored advice.
By implementing these strategies, parkour gym owners can not only increase their average revenue per member but also enhance the overall member experience. Remember that it's essential to tailor these ideas to the specific needs and preferences of your gym's audience to maximize their effectiveness.
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