How to Use Additional Revenue Streams

revenue streamsIn CrossFit your number one priority should be your coaching. However, as a business owner your first priority should be revenue and cash flow. In the CrossFit industry, it’s vital to your business that you can successfully blend the two.

One way many Box owners have helped establish additional revenue streams has been through the selling of fitness items and supplements to members. Not only does this help your business grow, but it ensures that you can put quality merchandise that you believe in, in front of your members.

Scott Keyser, the owner and lead Coach at CrossFit Stevens Point in Plover, Wisconsin, sells a variety of t-shirts and tank tops to his members. “I try to offer new styles every so often because our members seem to love getting a new look from time to time,” he explained. “I also did a run of long socks. Our members love them and they are a great design and quality, but I did have to order these in a huge quantity, so I still have a fair amount of inventory to sell.”

Keyser also recently purchased Bondi Band headbands for an upcoming BulletPoint Classic competition. “In addition to the clothing, I always keep some wrist-wraps [and] speed ropes, available for sale,” he explained. “I’ve realized these are items members want to own and it’s a nice service to have them available when needed. Finally, I sell FitAid and RxBars — RxBars have been popular from the very beginning, but I had to try a few different recovery drinks before I brought in FitAid, which has been a hit with my members.”

CrossFitters in general love cool gear according to Keyser. “My members are always excited when I offer something new with our Box logo,” he said. “I think it builds ‘Box Spirit’ so to speak. Members wear the gear around town or at non-CrossFit athletic events. It’s actually pretty good advertising.”

The financial benefits of selling gear and products couldn’t be more obvious, but it’s important to Keyser that what he sells is useful and integrated into the needs of his members’ regular workouts. “I tend to sell a number of speed ropes, not long after a group graduates from Fundamentals. Or a pair of socks after the first time someone gets up the rope,” he explained. “I actually feel it’s great to have clothing available, and nicely displayed, both for new members and drop-ins.”

CrossFit Stevens Point receives a fair number of drop-ins according to Keyser, so having a fair amount of shirts available in a multitude of colors is vital. “We offer drop-ins a WOD plus t-shirt/tank deal for $20, rather than our standard $15 drop-in fee. CrossFitters, my own members included, seem to love having a tangible memory of a good WOD at another Box.”

Tyler is a former editor of Box Pro Magazine.