While many business models have made it to the fitness industry, it is always the best ones that get all the attention and good revenue.
The fitness industry is growing exponentially. With so many options opening up every now and then, it becomes a bit confusing for a newbie in the market to decide on the best one. Fitness has become an important part of many people’s lives. It has garnered a lot of attention and with new things coming up in the industry; consumers have gained access to a variety of options and systems to choose from. In order to decide on the best business model, one needs to have apt knowledge of every one of them available in the market.
Challenge Based Training
The model focuses on selling packaged services to the clients who want to achieve their set short-term fitness goals. These short-term goals include body transformations, preparing for a race or can be anything that challenges the body to perform well. The packages are mostly of 4-12 weeks and help the participants to gain their desired fitness goal. The pros in this model are that it keeps the clients engaged in order to achieve their short-term goals. The cons in this package are that it requires a big market to support the sales of the program since they are short-termed and also there is a lack of generating revenues from the customers that that are recurring in nature.
In the time of social media, online coaching is a fitness model that shouldn’t come as a surprise. Online coaching, as the name says, is provided online with the help of many platforms that are available. It is the most popular form of coaching and works best when one uses as many platforms as they can use. Online forums or groups are also created to bring together all the members that have a common goal to achieve. The model also includes involving online membership platforms that are full of knowledge and very helpful for the clients to be a part of. It can become a bit tough to keep the clients motivated and engaged at times. Such models prove to be helpful and easier to keep everyone on the same page and also receive help from the advanced clients. The pros of this model are that there is an unlimited amount of flexibility and a good market potential. It is easier to reach out to as many people as can be reached out online. The cons, on the other hand, are that one needs to have a good experience in sales and marketing to really sell and build an online client base.
Private training has been in the fitness industry for a very long time. The model involves a one to one session and takes up to 30 to 60 minutes, depending on the clients need. One to one training is opted by many people who want to achieve their fitness goals at a much faster rate without dividing the attention they require from their trainer. The model includes interacting with the client to know them and their goal better, chalking out a plan, providing support during training, making sure that the customer gains a lot from the schedule and adjusting the plan in case it is not proving to be helpful for the client. The steps remain the same throughout, what changes is the sport or the activity, nutrition counselling etc. The market for private training is always good and the cost incurred in setting this model up is also very minimal. Pricing plays an important role as one needs to have one that is feasible and helps you to build a big client base. The cons, however, are that one needs to keep a tab on his/her competitors as there can be fluctuations in the business. Also, it is quite intensive in terms of labour as one won’t be having any other advantages to him/her other than increasing their prices that are bound to touch the limit some day.
So, this model has evolved from group training and private training. While private training will have one to one sessions and group training will have a huge group of at least 15 clients, semi-private training will have 3-4 clients to one trainer. This seems to quite workable to clients who do not want to splurge a huge amount on private training but also do not want to be lost in the crowd as is the case with group training. The model will provide the clients with individual assessment and program design. The training is done in small groups and lasts around 30, 45 or 60 minutes. The pros of this model are that when the session time is increased, it can give fabulous results and prove to be a really profitable business model. The cons are that one needs to increase the number of clients in every training slot in order to gain the required potential from all of them.
The fitness industry has evolved a great deal, thanks to the many innovative ideas one gets to keep moving the industry further. These models not only add to the dimensions of the fitness world but also bring in profitable and stable business ideas for people wanting to venture into the market.