WNiF Magazine - Spring 2017 Edition | Page 16

By Rob Woodbridge HOW TO UNDERSTAND THE ROI OF GYM EQUIPMENT F ew things impact the gym member experience more than the equipment inside the facility. Sure, we’ve seen pricing—both high and low end—attract or repel members. Location absolutely plays an important part as well. But once the dust settles, the member pays their fees, and they are set free inside your facility. There, it is the sea of machinery that will make or break their experience with your brand. 16 It’s one thing to know that the gym equipment is being used, it’s another thing to understand if your equipment is earning its keep. Knowing what equipment is most resilient will help make purchase decisions easier. You measure new sales and when it explodes, you know your marketing has worked. The industry laments attrition, and when it increases, everything is under scrutiny and second-guessed. The point is these things are measured, along with every other metric that is available to you—except one little thing: How effective is all your gym equipment? How is it possible that the things that earn the loyalty and member longevity, the things that fill up the floor, the things that generate the revenue—the equipmen —are not measured? How can a business operate without understanding the return of such a huge capital expense? How can any decisions be made or strategies determined without seeing ALL the data available? It can’t. To understand your business fully is to understand the impact that all your gym equipment has on your members. Here are five things to measure in order to understand just how much each piece of your equipment is earning for your club: WHAT’S NEW IN FITNESS - SPRING 2017