Top 3 Ways To Boost The Revenue Of Your Studio in 2023

Greetings Fitness and Wellness Studio business owners!

In a fitness and wellness business, it’s more challenging to focus on managing your services, and your facilities, and bringing new clients at the same time.

Moreover, getting new clients to join your studio is not the only way to increase revenue.

According to Allied market research, “The global online/virtual fitness market size was valued at $6,046 million in 2019, and is projected to reach $59,231 million by 2027, growing at a CAGR of 33.1% from 2020 to 2027.”

These numbers can’t be overlooked and neither should they be!

Revenue is more than just a function of increasing classes or students.

You can increase your revenue without bringing in new clients, even if you are bottlenecked on instructors, facility, or time.

In this blog, we will be going through some ways to achieve that, including expert lessons and courses.

Ways to increase revenue:

1. Expert lessons or advanced courses

Revenue can be increased by providing your existing clients with more options to spend on.

Including more services, and increasing the value of your services by having add-ons.

One way to do that is by including expert lessons or advanced courses for your clients.

Expert lessons and courses are for people who want to learn end-to-end or opt for teacher training.

Teacher training is a course that provides in-depth knowledge and expertise to manage and teach group classes, in a fun, effective and engaging way. Adding these courses would be great for your business.

You can sell these courses as VODYou can also include videos on demand for different classes and also some basic courses, with free access to the first few videos.If people find it valuable, they are certainly going to purchase it.

These videos and courses should not feel separate from your business. You should have them available on your website and branded app.

This integration should be available on your studio management software for a seamless interface.

2. Build a funnel to upgrade members

As a fitness studio owner, your end goal should be to get clients to upgrade to memberships.

It’s not a one-step process but should have a well-defined funnel with minimum friction for the clients.

Goal:  Trial packs —> Credit packs —> Memberships

Offer trial packs and for people who opt for trial packs, provide more value by offering credit packs.

With some incentives for people here and there, make them upgrade from trial packs to memberships.

You must always upsell your services and eventually take your clients to memberships.

You can read more about Upselling, memberships, and family memberships in this blog.

Read more about conversions of clients here

Some ways to achieve this conversion are.

1. Give discounts to credit pack members to upgrade to memberships
2. Give discounts to monthly members to annual or unlimited memberships

Launching your retail shop

You can launch a shop selling your studio’s merchandise, accessories, or eatables like protein bars, protein powder, etc.

This shop should be accessible both offline and online.

People should be able to purchase with convenience, your inventory should always be up-to-date.

The best way to make this work is to have a POS on your website and your branded app.

Clients shouldn’t have to move away from your website or app to purchase. It should all be seamlessly integrated.

Bookee takes care of everything for you

As a fitness studio owner, having these services available for your customers is a must-have.

Let’s show you how all this is so easy with Bookee

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• Example: Vibe Vault for VOD and courses

They have uploaded and managed so many videos and playlists with the help of Bookee.

Follow the following links to check out how easy it is to set up courses and Upload VOD with Bookee.

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• Example of creating a Funnel

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It’s hassle-free and very easy to create these membership plans and funnels with Bookee.

Read about how to create memberships on Bookee here

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• Bookee shop

Bookee’s CRM has a Sell Icon, that takes you to the Point-Of-Sale and Online store.

You will be able to sell your services from this page

Point of Sale: This is the tab where you can select the services and products you want to sell to the customers, apply discounts and collect payments

Online store: This page has a link to your website portal which can be integrated with your website

Read more about how to manage and add products with ease here

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