How to Merchandise Your Fitness Studio Like a Retail Pro
Are you looking for new ways to pad your fitness studio’s bottom line?
If so, you may want to consider selling merchandise. Not only is it an additional revenue stream for your business, it’s a great way to get your clients involved in your business and encourage them to show their support for your studio, which also provides you with some grassroots advertising.
Retail may not be high on your list of priorities, but as a small business owner, you should at least explore every possible avenue to boost your revenues. If you’re a little apprehensive about merchandising your studio with cool workout gear and accessories, we’ve compiled a few tip and tricks to get you started quickly.
Gift cards are easy to promote and are a great item for your clients to encourage friends and family to give your studio a try. You can sell them in your studio or through your online store. You can also use gift cards as an incentive if you have a rewards or loyalty program.
Branded gear is another excellent way to increase your sales and boost brand awareness. T-shirts, hoodies and water bottles emblazoned with your logo are simple and affordable items to stock in your studio. It’s best to keep things simple and don’t forget to consider sizing for any apparel. For example, medium-sized goods are most popular among women, while most men wear large.
Be wary of your suppliers. Don’t pick the cheapest option. You want to provide your clients with quality products they’ll be proud to wear. Your apparel is going to have your business’ name on it — you want to be proud of what you’re selling.
Be realistic about your budget and sales goal. In terms of inventory, it’s best to start slow and scale as demand increases. If possible, your first order should be as small as the supplier will allow and grow as your clients demand more. While you might pay a little more at the beginning, you won’t get stuck with merchandise you can’t sell.
Don’t forget about lead times. If you’re ordering custom-made merchandise, you’ll want to place your orders early enough to allow for delivery times and to put new inventory in your studio (or online store). You’ll want to pay particular attention if you’re planning a special event, like an open house, to make sure you have enough inventory to satisfy demand. You should stagger orders to ensure fresh stock arrives every two to three weeks, giving your clients lots of selection to choose from and allow for new inventory to arrive at timed intervals to help spark sales.
Offer discounts to loyal customers and clients. Discounts and rewards are another great way to encourage your clients to purchase your merchandise. For instance, you may consider running promotions or contests that offer special prices for studio members who meet specific fitness goals over a particular period of time. This not only encourages your clients to buy your merchandise but also add extra motivation to show up to your classes. These discounts can be promoted to your clients via your automated marketing campaigns, such as emails or SMS text messages.
Use social media to sell your product. Featuring your merchandise on social media to encourage your followers to show off their favorite pictures of themselves in your gear by offering prizes for the best photograph. You can also use social media to advertise new inventory as it arrives at your studio or online store.
Get your staff on board. Give your staff members a shirt or two to wear while teaching classes. This can help your studio to show off your products, as well as encourage your students to buy their own gear. Your clients may be more likely to purchase something if it has the instructor’s stamp of approval.
You could also consider incentivizing staff members to push apparel and accessory sales by offering a small sales commission on any purchases they make.
If you would like to talk to a WellnessLiving representative about how we can help your studio grow to success, book a free demo of the platform, or call us at 1 (888) 668-7728 Today!
