Virtual training: A revenue-boosting strategy for fitness businesses
With the rise of digital technology, people can now work out from the comfort of their homes without the need to travel to a gym or fitness centre. Over 65% of gyms and studios in the European market started offering online training during the COVID-19 lockdowns, and most of them planned to continue offering them today. The popularity of virtual training has directly impacted the market size, and the online fitness market is expected to grow at 23% (CAGR) annually.
By offering virtual training and online classes, gym and fitness studio owners can provide convenient fitness options for their customers and create an additional revenue stream for the business. In this blog post, we will explore the benefits of offering online workout classes and digital training for you and your business. With the global fitness market being valued at over $6 billion and expected to be 10x by 2027, this is an exciting space!
Convenience and flexibility
One of the main benefits of virtual training is the convenience and flexibility it offers for both gym owners and clients. With traditional gym memberships, most clients factor in travel time, as they must stick to specific fitness business opening hours. By offering online workouts, you give your clients the ability to work out from the comfort of their own homes, at a time that suits them. This is particularly beneficial for those with busy schedules or those who may not have easy access to a gym.
Although digital training packages can be cheaper than traditional gym memberships, another significant benefit of hosting online classes is that they can be very cost-effective. The need to rent a larger studio space or more equipment goes away even with increasing client numbers, as everyone works out remotely. The lower membership fees also help you expand your audience with those on a budget or who want to save on membership fees.
Wider range of workouts
One of the biggest advantages is the access to a wider range of workouts. With traditional gym memberships, your customers are limited to the classes and equipment available at your physical gym or studio. With online workouts, you can offer additional classes - such as yoga, pilates or HIIT - all from the same location.
Another great benefit of offering online classes is the possibility to expand your audience beyond your local area. You can work with clients from across the globe, as they have the freedom to work out comfortably wherever and whenever they want. With online workout classes, you get the chance to increase client numbers, brand awareness, and overall business revenue.
Motivation and brand loyalty
The key word is: convenience. Online sessions can be more affordable and easier to schedule in busy lives than on-site sessions. This level of convenience can help motivate your clients. They are more likely to stick to their fitness routine long-term, making it easier to achieve their personal fitness goals. And this is all great news for you too! Happy clients mean more revenue for your gym or studio. These online classes have the power to boost your gym’s retention rate and bottom line.
In conclusion, virtual training offers a range of benefits and should definitely be considered as a revenue stream for your fitness business. If you are looking to expand your audience, reduce costs and improve your gym or studio’s retention rates, offering online training will help you reach your goals. With the demand for online fitness classes growing, it’s the perfect time to tap into this market and give your clients the convenience and flexibility they may desire.