Guide
Fitness Music Streaming Services Guide
Breakdowns and comparisons of 8 popular – and legal – music streaming services for your gym or studio.
Gross Profit Margin Template
For a brick-and-mortar sports and fitness business, there is added complexity to re-open at 25-50% reduced capacity. With increased costs due to new cleanliness standards, which require additional staff and supplies, there is little room to reduce class sizes and revenue.
Maximize your upside for re-opening by knowing the gross profit margin of your programs and equipment
Historically, sports and fitness businesses have relied on maximizing capacity to generate the most revenue – whether that be filling up classes, time slots for lessons, or renting resources – to maximize revenue.
However, with new CDC and individual states’ capacity limitations, many businesses are struggling to strategize how to re-open; or to re-open at all.
Use this simple calculation to maximize profit and to help in deciding what equipment or offering you should reduce vs. shut down.
This exercise will help you:
- Identify where you achieve the highest gross profit and where you are losing/will lose money.
- Identify opportunities to convert equipment and smaller spaces within larger areas into individual, "bookable" resources.
- Short term: Assist in selecting which pieces of equipment to put a “Closed for Social Distancing” sign. Should you do that for every other piece, or should you just remove low margin equipment and space higher margin equipment to accommodate social distancing?
- Long term: Help improve how you see your business and give you new insights into how you can improve margins over time. Should you increase the price, or should you decrease the costs?
Access the worksheet!
Additional COVID-19 re-opening resources:
Checklist
Re-Opening Checklist for Sports and Fitness
From facility changes to re-engagement strategies, we’ve outlined over 30 important recommendations to consider before re-opening your business.
Guide
Definitive Guide to Re-opening Sports and Fitness
Strategies, research insights, and best practices from the UPLIFT Roundtable designed to empower business leaders to re-open with confidence.
Template
Customer Lifecycle Journey Template
Build a strategic roadmap by applying new consumer behavior trends and insights to your customers’ journey with your business.
Research
Report: Examining the Re-opening of Sports and Fitness
In-depth analysis on re-opening strategies based on UPLIFT Roundtable insights, market research data, and industry knowledge.
Guide
Survey Data on Post-COVID Consumer Trends & Behaviors
Understand your clients with insights from surveying 1,200 sports and fitness consumers on their feelings about re-opening.
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