How to Start Retailing in your Fitness Studio
Why not do something unique and creative? How about you start selling your fitness merchandise? If you have a fitness studio, it is time to think creatively and earn quickly! One way to do that is to open a retail store at your studio and attract various customers. It also means you will have several gym memberships lined up! Therefore, increase both your sales and the number of loyal customers in no time.
Here are some tips for starting a retail store so your customers can easily shop at your fitness studio!
1: Create a Space
The first thing you want to do is to have a space or area to set up your store. In addition, you must select the area in such a way that it is the first thing your regular customer sees. Further, it should not be so large that it takes up all the space and makes your studio look cramped. Therefore, open up a stall or a counter that showcases the products attractively.
Also, don’t forget to give your retail store a name that captures the essence of your studio!
2: Get What Customers Like
If you want your retail business to be successful, then it should hit the right target market! Of course, people who are fitness enthusiasts will be your customers. Therefore, everything related to workout and athleisure products can work! You can even ask your regular customers what they like and which products they use when working out.
Sometimes, products you buy from others to put in your retail store are expensive. So, why not buy a product in bulk? Therefore, get wholesale athletic shirts, shorts, or anything in between that complements your brand image!
3: Add Variety
Apart from athleisure and fitness clothes, you must also bring some variety to the table! It can be giving out supplements or vitamin tablets from famous health companies. Moreover, you can add water bottles and duffel bags with your studio logo on them. It will be a good idea to add some granola bars and fitness snacks too! Think out of the box and add anything relevant to your studio.
4: Do Giveaways
Another way you can create brand awareness is by hosting giveaways. It is an effective way of advertising your products with ease. Therefore, you would not need to put out digital ads and billboards! In this case, word of mouth can effectively build credibility.
For example, create healthy goals, and the one who reaches those goals by the end of the day gets free merchandise! In addition, you can give away one item to newbies when they get a membership in your studio.
5: Promotion
Once you have set up the shop, it is time to start with promotion. You can give customers your merchandise as free samples and ask for reviews. Additionally, you can approach a fitness influencer and ask them to promote your product on their page. Also, you can go with digital marketing and promote your products on various forums and blogs. Email marketing also so that your customers get information on any new product you are about to launch.
6: Use Social Media
If you want a far-reaching impact, then social media is the right way to do that! Inform your customers about a flash sale you will start on limited products through a social media post. Additionally, it helps create an online presence for your brand. What takes ages if you do it through traditional marketing will be done within minutes via social media presence! Also, it would be best if you had your website to promote your studio and retail shop.
7: Keystone Pricing
This pricing strategy only works when you are in the retail business. Therefore, you end up selling the end products at double the price of the wholesale price. It is so that you can have a higher profit margin by the end of the day.
For example, if you buy wholesale athletic shirts, sell each unit twice the original price. Though, do not get carried away with high mark-up pricing that customers find better substitutes!
8: Staff and Retail Discount
Another way to effectively run a retail shop is to have discounts here and there! Your staff deserves all the love; therefore, show them appreciation by giving them exclusive discounts on products. Additionally, your loyal customers are the backbone of your studio. Therefore, they deserve to have some discounted clothes on athletic items as well! And discounts are a great way to increase your sales too.
Conclusion
One must come out of the comfort zone and start afresh! Therefore, now is the time for you to expand your business and give it a boost. Add a retail store to your fitness studio to get customers flocking up to your studio. And with our tips, you can do everything with ease!
