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Pilates

3 Step Guide to Cutting Costs for Your Fitness Business

By Fitness Business Management Archives & News, Gym & Studios, HIIT & Group, Pilates, Yoga

As a fitness or wellness professional, you’re probably already feeling the squeeze of rising costs and the impacts this will have on your business. Looking at your financial health and planning for the months ahead will prove an invaluable exercise.

And although there are some critical costs or expenses that can’t be avoided, there are others that can easily be reduced and get you to start saving money, fast.

We wanted to share a guide that might help you save money and get your business into better financial health by cutting common costs or expenses without jeopardizing your business’ potential to grow. This isn’t about cutting corners – this is about making sure that every penny you spend is well spent. Here’s a practical guide to cutting costs and improving business in three As.

1. Audit

What are you spending, on what and why? Are there alternatives to any item of expenditure, are there items that you can eradicate by changing your internal processes?  On revenue, what are your attendance and cancellation rates, and how are your products and services performing?

Write down every process or cost associated with your business. Don’t restrict yourself to the obvious things. This is every expense, policy process. Think about cancellation policies, waitlist, communications, marketing, the operations of your business, the time you spend on different elements, your training and development. This is a deep dive into everything in your professional life.

Break down every detail of your business, no matter how small or no matter how long that expense has been in your business. Take nothing for granted and don’t pass off small costs. The accumulation of marginal gains goes straight to your bottom line.

2. Analyse

What are the little changes you can make to improve your profitability? These might all be small changes individually, but when you add them up, they can really make a difference.

The SCAMPER method will help you find the best and most innovative solution. SCAMPER is the acronym for (substitute, combine, adapt, modify, put, eliminate and reverse) and encourages you to improve existing processes.

Take your list of expenses and process and say for each of those and apply the SCAMPER options to each of them. Is there a substitute, can you adapt or modify it?

Is there something you use but you could use something less expensive? Do you use something which doesn’t actually pay for itself? Are you doing work that you could push back on your clients?

This table gives you an example of how to analyse the operations of your business:

3. Action

Now that you have worked out what savings you can make, is time to get stuck in with planning and work out how you will operationally manage your business so that your costs remain low, you reinvest where you need to, and simultaneously your efficiency runs high.

See this as a new opportunity to reinvent some of the things you do and bring added value to your customers. By connecting with your most loyal customers, they will be feeding you tons of great insight. Use this information to improve the way you communicate with your audience to truly connect with them and grow your community. Adding value will help you figure your niche and stay one step ahead of everyone else.

 

These are our top 5 tips for creating value for your customers:

  1. Make it easy for your customers to book and pay. Everyone dislikes a painful buying experience. Make this easy for them, and yourself and automate this. They will love getting notified and being able to have control over their class or appointment booking schedule.
  2. Leverage the power of customer testimonials. Make sure you reward your loyal few and fill their inboxes with discount codes and other incentives they can use to encourage them to invite friends and family.
  3. Make sure your customers hear from you, and often. Staying top of mind is an artform and you want to make sure your name pops to mind even at the dinner party. Give them access to free resources such as healthy tips guides, helpful facts and reminders, or an inspirational story.
  4. Create a VIP room. You can use Facebook to bring your most loyal customers together in a place where they can feel inspired and motivated, and hear the most up to date news from you. Add them to a priority list in your booking system too so that they get access to booking ahead of anyone else and can secure their spot!
  5. Do what you love. When you do the things you love you become more productive and motivated. Automating and delegating some of the boring admin tasks with software will enable you to do more of what you love and gain more time to engage more with your customers.

 

Once you have audited your expenses or costs and know the actions you need to take to make some savings, you’ll want to make sure your booking and customer management software is affordable and easy to use for you and your customers. That’s where Gymcatch can help you, get in contact with us today.

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Pilates tops the list of the most in-demand exercise

By Fitness Industry Archives & News, Pilates

Top wellness and fitness trend

Pilates is the exercise discipline that showed the most resilience throughout the ups and downs of the Covid pandemic. Our research shows that the public stuck with, or turned to, Pilates when other exercise disciplines were experiencing tougher trading conditions.

Formed by Joseph and Clara Pilates in the 1920’s when they opened Body Conditioning Gym in New York City, Pilates has evolved through the years while sticking to its original philosophy and principles.

Today over 12 million people enjoy the benefits of Pilates, establishing itself as the top wellness and fitness trend in the UK throughout the pandemic, performing even more robustly than Yoga.

“We have seen a surge for low impact classes. People are increasingly focused on wellness and Pilates offers a great blend of flexibility and strength training,” says Ollie Bailey, CEO at Gymcatch.

The popularity of Pilates

When assessing the popularity of Pilates the main factor was consumer attitudes to the discipline. Pilates enthusiasts, more than in other areas of fitness and wellness, considered Pilates to be an essential part of their routines, rather than a hobby.

Moreover, in a period where people were particularly keen to avoid using health services, we saw consistent feedback that the low-impact, low injury risk reputation of the discipline saw consumers turn to Pilates rather than disciplines that they perceived as riskier.

Finally, Pilates has proved to be a more convenient form of exercise during the past year, as lower intensity and simpler forms of Pilates were perfectly suited to participation at home.

“Pilates has evolved, and demand has increased due to the pandemic with more people looking for mind-body health and overall wellbeing. Thirty minutes a day can be enough to get real results, so it fits into the workday well,” says Joanne Cobbe from JPilates.

Pilates in numbers

Lower impact exercise saw a 2556% increase in bookings between January and July 2021 on Gymcatch. Pilates alone has seen a 25% increase from 2020 to 2021, despite the incredibly challenging backdrop. In the UK Pilates is a truly national discipline with participation levels slightly higher in London and southern counties but distributed throughout the country with almost half of English counties searching for a Pilates exercise class.

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Virtual Pilates classes are here to stay

Many consumers have fully adjusted to online classes and are now seeking the perfect blend of face- to-face and virtual sessions. But this does not mean that face-to-face delivery is going anywhere. The majority of consumers have returned to in-person delivery and in most cases virtual sessions appear to be supplementing, rather than replacing the in person experience.

Following the end of the national lockdown in the UK in April 2021 we’ve seen a steady recovery of in person delivery. In May 25% of classes were still online only. During June and July 2021 85% of classes were delivered in-personGymcatch expects about 10% of pilates participation to permanently switch to virtual.

“People still want access to On-Demand content or have the option to attend a live-streamed class. By doing both, Pilates instructors can offer more value and more convenience for their clients while adding revenue, new streams and resilience to their businesses,” says Ollie Bailey, CEO at Gymcatch.