You’re busy running a successful business – it takes a lot to teach classes, manage staff and stay on top of daily gym tasks. Why should you add another to-do to your list? Selling gym retail is easier than you might think. Here’s why, and how, to get started.
What’s the point?
Offering merchandise at your gym is a great way to generate passive income. Once your product is on the floor, most of the work is already done! The sale of a sweatshirt or a container of nutritional supplement could generate the same revenue as a week’s membership fees, and you won’t have to work for it the way you do with memberships.
Also, merchandise creates community. At my local yoga studio, many of the yogis come to class in the pant styles that are sold there – we feel a bit more like we belong when we wear clothing similar to the people around us. New gear can be a great incentive to work out, too! Offering apparel for your students to purchase is like telling them “Hey, we want to see you back here!” They’ll get the message even when they’re at home. Additionally, logoed apparel is fantastic advertising and could draw new members from places you’d never think to advertise. Sending your members out wearing your brand is a fantastic way to capture new leads without any additional work on your part.
What should I sell?
First, pay attention to what your members are already wearing. Do many of the women wear similar styles or brands? If everyone works out in tank tops, don’t expect to sell hundreds of t-shirts. We are creatures of habit, so we’re inclined to choose styles similar to what we already have.
Second, narrow your choices to a few brands you’d like to carry first, such as Hylete or Lucy. Representatives at those companies will be terrific assets in helping you select items (and size and color combinations) that will sell well in your market. You can always expand to more product lines after your first few are successful. Don’t overlook your employees’ ideas, too – ask them what sizes and colors they like, as they’ll be helping you sell!
Third, consider merchandise other than apparel to round out your ‘store’. Items like headbands and accessories, mats and other equipment, water and nutritional supplements are great impulse purchases and often come at very low cost to you. (Costco sells bottled water for 26 cents per bottle – imagine your margin for just water!) Think of what will be popular in your area, as well; in Denver, where everyone has a dog, branded collars and leashes would fly off the shelves.
Congratulations on taking a step towards making your business more profitable! Don’t forget to put your product in Zen Planner to track sales, inventory, and purchase reports; you can do this by clicking Retail > Product Catalog. Happy selling!
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