Over the last decade, gym membership has grown exponentially. As per a survey report, there were around 45 million US gym memberships in the year 2019. As people have become more health-conscious, the fitness industry has become quite a significant part of our lives. But the COVID-19 pandemic has led to the temporary closure of many fitness studios and gyms.
Gyms have been severely affected during this pandemic. The close-down of gyms to prevent the spread of Coronavirus has led to a huge financial loss on Gym owners.
Gym Owners can rent out their equipment
People are stuck at home, and the gym equipment is stuck at the gym. As gyms and fitness centers are the places where physical contacts are difficult to avoid, keeping the equipment sanitized all the time is another big challenge. So studio or gym owners can rent out the equipment to their clients, who need this equipment for their daily workout. It could be difficult for any individual to buy expensive equipment that they were using in the gym, but renting equipment can solve this issue.
To safeguard the fitness industry, equipment renting is a good option. The gym owner can benefit by renting out their equipment to earn revenue and help their regular clients do their workout at their own homes. Meanwhile, they can continue to keep an active membership with the clients.
A suggested business model involving rental software benefits
Gym owners can manage a gym equipment rental business through gym rental management software. They can list the equipment and pricing for their clients to view. Clients or regular users of the equipment can view the listing based on their location and can select the equipment they require to hire. The gym owners, once they receive the requests placed by the clients, can then review and approve them. After the approval, they can request for the rental payment amount; and the safety refundable deposit. While placing the renting requests, they can also provide the option of choosing self-pick or doorstep delivery.
The online gym equipment rental marketplace not only can generate the rent price for the owner, but it will also open other channels of earning money. There is no commission money involved as the gym owner is directly interacting with clients, which generates maximum profit from each transaction. By online advertising, income can be generated by the advertiser on a view or click basis.
The owner can also create a set of subscription plans with benefits like free delivery, fixed discount, etc. to attract clients. Gyms can rent out as much equipment that were used by its clients like a resistance band, treadmill, dumbbells, bikes for cycling, and rowing machines. Who so ever chooses any equipment can hire it on a weekly or fixed-term basis.
Develop a website to create awareness
Develop a website to promote and be visible to people that you’re putting your gym equipment on rent. The website can create visibility over the internet and create awareness. The basic features the website should contain are:
- The homepage should be enticing to target your audience with a beautiful banner and offers.
- A rental page for gym equipment
- Product page with detail description of equipment with equipment high-quality image and renting price
- Booking form for equipment
The demand for gym equipment is increasing due to the present Coronavirus situation, which has made stay-in-home a part of our lives. Setting up a gym and fitness equipment marketplace can be a great way to cater to the growing demand of your customers. You can reach out to the website building company or any freelance website builder who can understand the market need and give you the right platform to rent out your gym equipment.
In this pandemic situation, everyone learned the importance of staying fit; and renting fitness equipment could be a unique and good solution to this. Also, make sure that you are getting out the word that you are renting your gym equipment through social media, Whatsapp marketing, and also by sending out emails to your existing clients.