Are Your Prices a Race to the Bottom?

Pricing is one of the biggest issues a gym can face. Setting your prices based on what everyone else around you do is all too often the course of action for gym owners. Let me see what (Insert Name) Gym is doing and we can copy them…This is only a race to the bottom!

Your focus, as always, is to provide the most value and service, and with that comes a premium price. People will pay for premium if they perceive it to be valuable. Make it easy for them! Get them your best stuff! Always. Every Day. Twice on Sunday!

When you onboard a client, this is the honeymoon phase. Show them your best services up front at a reasonable cost. I have written extensively on this topic and the need to create a great low-barrier low commitment on-boarding system. If you have yet to do so, you’re already behind. You must establish trust in your brand, trust that you will deliver, trust that they have made the right decision in choosing you with their fitness. Once you have them in your facility it’s up to you to WOW them with your greatness.

You must make it easy for them to join after their trial or on-board program. Many times, gyms overload their potential sale by giving them too many choices at the sales meeting. “As you can see Mr. Smith we have 15 different membership options to chose from!” Narrow it down to 2 choices, possibly a third but that’s the MAX. They hired you as their fitness expert and are looking for you to tell them what’s best for them.

“Based on your past 30 days and the goals that we originally set, my team and I feel these two programs are going to be the best to help you reach your fitness goals ad the fastest most effective manner. Which ONE would you like to get started with today?”

It is my firm belief that you should be the highest priced service in your area. WHY?

Not only does it force a perception that your product is the best because it demands a premium price but it also forces you and your staff to level up and deliver.

Big box clubs that charge $9.99/month do NOT have to deliver an exceptional product to keep their customers. The price is so low that most people just say F&$K IT it’s only $10 bucks a month. However, if you charge $250/month you better be delivering an exceptional product day after day. Otherwise people will NOT stay.

At Varsity House it is our goal to maintain an ultra-high standard that demands a premium price. We want to keep reshaping the definition of fitness in our local market and keep giving our clients services they didn’t know existed…or that they needed! We will be rolling out a small group training product in 2019. There are no such programs around us. This will again redefine what our clients get in terms of service and results. Consequently, it will have a monthly cost ranging from $350-$500/month.

Premium to say the least…

But at these prices if I get 10 clients at the $500/month it would be like adding 25 new clients at our current large group rates. Less people paying more money is always a good thing.

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We help our coaches, trainers, and business owners spark curiosity and genuine enthusiasm in their pursuit of career mastery by providing them with the opportunity and the support system to find their ‘hook’ and develop a passion and skill set that will set them apart.

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