The Win-Win Gym Pricing Strategy - Happy Clients, More Cash

When it’s time to raise the prices in your gym, there's always a fear among gym owners that it might lead to losing some clients. Usually, you won’t lose too many clients unless you raise your prices insanely, but still, it’s never a pleasant part of running this business.But what if there is a pricing model that allows for an increase in prices without upsetting your clients? In fact, they might even be grateful. This isn't a far-fetched idea but a shift from the traditional tiered structure to a more streamlined, flexible approach.Typically, gyms follow a good-better-best pricing format, offering memberships for twice a week, three times a week, and unlimited semi-private sessions. The innovation here is in eliminating the 'middle' option and making the cheapest one more flexible.This leaves clients with two clear choices: a flexible 2-3 times a week membership and an unlimited option. This new flexibility not only enables a price increase but also moves away from the usual session-counting mindset of clients.With this model, those who usually come in twice a week no longer feel like they're missing out. Instead, when they start having three training sessions a week for the same price, they perceive it as a free upgrade, which makes them more satisfied.This approach is just one way to rethink your pricing strategy. If you want to get more ideas on how to tailor your membership prices to get more satisfied clients and boost your revenue, tune in for this episode.Tim and Randy explain the benefits of this pricing model and guide you on how to adapt it effectively to best suit your gym’s needs.Let’s dive in!Key Takeaways:Perform Better's speaker school in Providence, Rhode Island (00:00)New pricing and membership options for gyms (02:32)Top three takeaways about pricing from the Providence event (05:20)Testing the new genius way of pricing (10:03)“Am I going to use what I'm paying for?” (12:31)Recap (15:03)Additional Resources:- Business Accelerator Program winninggym.com/call- Learn more about The Iron Circle - Business Talk with Fitness Professionals Facebook group - Jump on a call with Randy---If you haven't already, please rate and review the podcast on Apple Podcasts!

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