You Lost Money on Gym Apparel Sales Until You Listened to This
Run a Profitable Gym
English - February 09, 2023 05:00 - 37 minutes - 25.8 MB - ★★★★★ - 61 ratingsEntrepreneurship Business Health & Fitness fitness coaching crossfit business gym marketing ceo Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Gym apparel sales don't always go well. Low or nonexistent margins are common, as are weak marketing and unsold inventory that clogs up cash flow.
By contrast, some gym owners gross $34,000 a year in apparel sales or use retail to tack thousands of dollars onto net profit.
In this episode, Mike Warkentin talks to Matt Albrizio of Forever Fierce, who offers specific tips and tactics any gym owner can use to start making money with retail. Matt covers how often you should place orders, how much you should order, how you should price your gear and how you should get rid of unsold inventory.
Follow these tips and move every single unit out the door when you have the next apparel sale at your gym.
Links
Forever Fierce
Book a Call
Gym Owners United
2:42 - How often to order gym apparel and how much variety to offer
6:10 - How much should you order, and how to use pre-orders to avoid unsold inventory
9:43 - Does your gym need a "pro shop" with stocked apparel?
13:04 - Pricing and margin recommendations for gym apparel
16:48 - How to calculate your break-even point and target profit
19:35 - How to get rid of unsold inventory
24:07 - Limited editions and cash collection at time of sale
26:28 - Marketing tips, social proof and "a culture of gym apparel"