As studio owners, you know that each new year brings its own group of new faces coupled with a unique new set of opportunities. So, to help set you up for a year (and decade!) of success, we’ve rounded up some things you can expect to see in 2020.
Insurance dollars as a new studio revenue stream
More than ever before, employers are recognizing that healthy employees are happy employees. This year, it was reported that 80% of companies with 50 or more employees offered a corporate wellness program, and it’s no wonder. Wellness programs, when done right, make employees more productive, engaged and enthusiastic about their daily grind, while, of course making them healthier in the process.
For fitness facilities, this offers a unique opportunity to grow your bottom line and increase class attendance. We’re firm believers that studios like yours should have access to multiple revenue streams that not only enhance your business, but also support your staff and align with your mission, which is why we’re bridging the gap between local fitness facilities and insurance carriers. What better way to fill that somewhat sparse 12PM class on your roster than with a team that can run over on their lunch break because their employer is encouraging them to do so?
Loyalty lies where community thrives
We’ve all been the “new” person in class. As a studio owner, you’re more likely to see return customers the more welcome they feel from that first step in the door. That first hello, the quick tour to let them know the lay of the studio, introducing them to the coach and fellow members - these are small gestures that leave a large impact.
Community will be the name of the game in 2020. Why? Because, despite the social media era and all that comes with it, loneliness is actually a huge problem.
You’ll find that the more people truly feel a part of your community, the more likely they are to get a membership and bring their friends with them. Focusing on building that community means the difference between hearing crickets while waiting for class to start and people walking in with huge smiles, talking about their busy days and ready to sweat out the stress with their people.
Your customers have plenty of options these days when it comes to where to work out, use your community as the differentiating factor to make them choose you!
Those smartwatches aren’t going anywhere, so let’s do some good with them!
Technology and fitness go together like peas and carrots, which is why some health insurance providers are starting to discount them as part of their benefits packages. It’s also why Google just bought Fitbit for a very casual $2.1 billion.
For studios, leveraging technology into helping customers track their performance over time and stay accountable with themselves and their peers will be a major bonus. The science behind the workout is often lauded as one of the major reasons behind Orangetheory’s success, but you don’t have to necessarily invest in heart rate monitors to incorporate technology at your studio.
You can always find creative ways to incentivize members who may track their workouts at your studio with their own piece of technology. Set a goal for every class to burn a certain number of calories or take a certain number of steps per day. Encourage members to snap a picture of their accomplishments post-workout and tag your studio for a chance to win a water bottle, shirt, training session - whatever works best for you. Empower them to use their technology of choice to take their health, literally, into their own hands.
The important thing to remember with any new year, but especially in 2020, is that your customers are key to your success. Great customer service and honing in on your clients’ respective wants and needs will ensure your success in 2020, and for years to come.
Cheers to the new year!