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Gyms/ Wellness Centers

I’m helping to start a new Gym. What a good price for a membership that is cheap enough to make people join but enough to not go into dept? what’s the normal price for a gym member ship??

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Answer #1

The best thing to do would be research the competition - how much does Gold’s Gym charge for their membership? How much does 24 hour fitness? They never reveal their prices, you have to visit them & get the tour, the sales pitch, etc, but scoping the competition is the best thing you can do to help set the price correctly.

Also, try to get a sense of the expected life cycle of the customer, since most places expect you to drop out, but make you sign a contract to try to encourage you to keep going. Is that the best way to encourage people to stick to it, or is there another incentive you could offer?

Hope this helps, and good luck with your friend’s new gym business.

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