Optimizing Additional Revenue Opportunities

additional revenue

The strategy at CrossFit El Cid when it comes to multiple revenue streams focuses on one word: opportunity.

“We have strategically created a few other programs to help our clients get the best results, as well as create further opportunities for Coaches,” said Carl Penney, the owner of the gym in West Palm Beach, Florida.

One of the largest additional opportunities for El Cid has been personal training. Penney said they made a push to get more group members working one-on-one with a Coach, and after showcasing results due to increased accountability and attention, it took off. In fact, he said it has become a huge part of the business and has only continued to grow. 

“We realized there is a market for people who want individualized training and accountability, or are intimidated by classes,” said Penney. “This helps members get the results they want, aids in retention, allows Coaches to increase their income and also adds revenue for the business.”

Bootcamps

At Badger CrossFit in Wauwatosa, Wisconsin, bootcamps have become a large source of revenue. Owner Tyler Sullivan said they are offered four to five times a year and are geared toward beginners in fitness. Plus, it is a lot more accountability and higher value, so they charge more for it. “We found out some people wanted a set time and duration to actually have accountability to show up,” said Sullivan. “Our bootcamp has set times and days. We also have a nutrition program built into the actual bootcamp, so not only are you getting the fitness for four days a week, and set days and times, but you’re also getting the custom program for your nutrition on top of that.”

Other programs offer additional revenue at Badger CrossFit. The functional body-building program focuses on building people up after an injury or developing an area that’s lagging in their body. It’s tempo-based training written by Sullivan and is treated like a foundational program. About 20 to 30 people take advantage of it, coming in on their own time to complete the program and sometimes on top of regular CrossFit classes.

Penney also offers other programs for his members. Whether it’s additional assistance programming through Fitbot — monthly consult included — or his evening Olympic weightlifting program, it offers members services to choose from. But, their choosing to invest in additional programs comes from giving them a sense of value to begin with.

Personal Training

CrossFit El Cid now begins every new member off with personal training. Penney said it shows them the value of one-on-one attention and makes them comfortable to pursue it when they have trouble with a movement later on. “It’s becoming more and more common for our members to meet with a Coach weekly to refine skills and movements,” he said.

Plus, Penney has utilized short testimonials and social media to showcase personal training. He said his biggest lesson in learning how to succeed in one-on-one has been removing his own biases on money and value. “Don’t be afraid to charge what you’re worth. Set a price and stick to it. Don’t apologize that it’s ‘expensive.’ We’re changing people’s lives, which is invaluable,” he said. “This can be hard for a new Coach, but after some experience and getting some clients the results they want, it becomes a very natural process.”

Other Revenue Streams

Additional revenue streams can also branch out from programs and training. Sullivan has found his retail and nutrition offerings are chances to educate and upsell members. But that’s the key — teaching your members about your products and offerings. 

It’s also bringing in the expert. For him, that meant hiring a nutrition guru from Chicago to run the program in his gym. “We wanted someone to be able to do that better than us, put 100 percent of their time into it, so it gave our customer the best experience,” he said.

Like everything else, it comes down to figuring out what your members want, giving it a go and revamping it along the way. Penney said if you can create raving fans, more people will follow in their footsteps, making your additional revenue stream a success. “Even if you only have one client utilizing this service, make sure they have such a great experience and get such great results they do all the marketing for you,” he said. 

Heather is the editor for Box Pro Magazine. Contact her at heather@peakemedia.com.