Have you ever pondered the idea of expanding your gym?
Expansion looks different depending on the club, for example, you might want to open another site, hire more members of staff or introduce more equipment so that you can facilitate higher membership numbers.
Regardless, expanding your fitness business can be a significant step towards achieving long-term success and increasing your gym’s impact.
However, it’s crucial to make this decision wisely and strategically.
We’re going to explore the key indicators that tell you it’s time to expand your independent gym and offer guidance on how you can do it effectively.
How do you know it’s time to expand your independent gym?
The first major indicator it’s time to expand your gym is when you experience consistently high demand for your offering. Classes are always fully booked, waitlists are a regular occurrence and you have a steady flow of new members joining each month. If you’re consistently operating at near or full capacity, it’s a strong signal to consider expanding.
Then there’s positive financial growth. Increased revenue and profits month on month aren’t just signs that your gym is doing well, they’re also signs that it can sustain costs and generate a return on investment should you decide to expand the business.
Finally, you should keep an eye on the competition and market trends. If you see other gyms in the area are expanding or successfully adding to their offering, it could be a sign for you to do the same.
How to successfully expand your independent gym.
First, you want to be realistic about how feasible it would be to expand. Look at demand in the local area, financial projections and how scalable your business model is. Always avoid ploughing ahead before you’ve carefully considered everything that comes with expanding the gym.
Once you’ve decided that expansion is the right move for your gym, it’s time to explore the various financing options available to set the wheels in motion (loans, grants, investment partners and so on). Expanding your business usually requires a sizable investment, so you must have enough financial resources to support your growth plans.
Next, focus on member experience. You need to make sure your current members are taken care of throughout your expansion plans. Keep them in the loop if there are changes to your service and don’t forget to share the excitement with them. At the same time, start thinking about what the member journey will look like once you’ve completed the expansion.
When you’ve successfully expanded your gym, monitor and adjust performance and be ready to make adjustments as needed. Be agile enough to adapt to changing market needs and most importantly, always listen to member feedback when making decisions. How are they finding the experience after the expansion? Are they seeing the benefit? Don’t be afraid to ask the important questions.
Expanding your independent gym can be a rewarding venture when done strategically. In recognising the signs of growth and a well-thought-out plan, you’ll be able to take your gym to the next level; serving your community and achieving your business goals at the same time. If you plan with care, you’ll be well on your way to a successful expansion in the competitive fitness industry.
Looking to expand your independent gym? Speak to ClubRight. We’re the go-to member management software for independent gyms, health clubs, studios and more; trusted by more than 850+ fitness businesses. Have a quick chat with our product experts by giving us a call at +44 (0)203 884 9777 or book a free online walkthrough of the software here.