The fitness industry has gone through massive change over the past 24 months. Lockdowns, gym closures and the explosion of online, at-home training programs. The industry is no longer just about people inside gyms, out in parks doing bootcamps, or in studios doing 1-1 coaching. There are countless new opportunities for fitness businesses to grow and thrive.
During the ten years that I’ve owned and operated Again Faster, we’ve seen many changes, but none as rapid or as significant as those that have been thrust upon our industry over the past two years. In order to continue to survive and grow, I’ve learnt some golden rules for survival.
- Listen – Understanding your customer and knowing what they want is critical. Form deep relationships with you customers and take on their suggestions and feedback – good and bad – to ultimately help your business grow. In an industry where many products are commoditised, rapport and personal service will set you apart. This doesn’t just apply to equipment either. If you have a gym, build your community and take on their thoughts. In an online setting, it is even more important because you don’t get the opportunity to speak to your members directly. Spend the time getting to know your customer and you will be rewarded long term.
- Adapt – Be willing to change your business to take advantage of new opportunities. The world is now a rapidly changing place and businesses need to be able to move quickly to pivot and adapt to new challenges, opportunities and market. Remember your core business, but allow yourself and your team to spend time researching, testing and learning from change. The pandemic taught the fitness industry that change can disrupt previously stable models and those who were able to adapt quickly to the new “normal” were able to thrive. Adapt to the situation around you, but do not forget your core offering.
- Innovate – Actively look for ways to innovate within your business and improve it. What additional revenue streams can you create? What opportunities can you see in the future from technology? Take the time to actively research fitness technology, new training methods and latest trends.
- Collaborate – Don’t be afraid to work with others. Bring in experts in their field that can enhance your business – whether that be from an administration or business coaching standpoint, or a specialised fitness coaching relationship. Collaboration lets you learn more, whilst enhancing your member’s experience. It also opens up new opportunities for your business and brand to grow. In a culture that is now driven by influencers and social proof, diversifying and opening yourself up to new audiences is a great way to thrive. Think outside the box and take calculated risks.
A business will not grow unless you nurture it. Make sure you are taking the time to set away from your business and look at things from a macro level. Treat your business like a business and not just a hobby. Invest time in yourself, your staff and your customers – it will reward you in the long run.
The fitness industry is fun. We help people lead healthier, happier lifestyles, but it is also filled with stories of people who did not survive and thrive. It doesn’t have to be this way though. Listen, Adapt, Innovate and Collaborate to build your business for success will into the future.
Again Faster is a Brisbane based, Australian owned supplier of strength and conditioning and functional fitness equipment. With nearly 10 years’ experience in the Australian market, they are uniquely placed to provide solutions to every type of fitness business. fitbox is an ecosystem of products and services, centered around gym management software, designed to help fitness businesses grow and scale.
