Commercial fitness equipment will be one of your biggest expenses as a health club operator. Sure, they may be under a 3-year warranty. But what if you were able to extend the lifetime value of your equipment by 20%? How would that impact your cash flow and profitability of your health club business? Extending the lifetime value of your commercial fitness equipment is possible, and much easier than you might think. Here’s how it’s done.
Determine the actual usage patterns of your commercial fitness equipment.
There's a good chance you have a general idea of when your machines are in use. If you consider yourself an astute observer of the happenings in your club, you probably feel like an expert. And you know what? There’s nothing wrong with that. Making decisions based on your own intuition has been the guiding light for business owners for centuries.
But remember Billy Beane and the Oakland Athletics? Moneyball? When new types of data were introduced and analyzed, even the most well-thought minds in baseball were blown away at how wrong they could be in their assessment of players once they had a new way of looking at things.
The point of this analogy? It’s that even the world’s smartest baseball minds were deceived by their eyes, ears and intuition when presented with irrefutable data to the contrary.
Now, if you’re ready to understand the truth behind usage patterns with your fitness equipment, the technology exists to do so. In fact, you can even receive weekly or monthly reports delivered directly to your phone or tablet.
Identify trends, then rotate equipment used less frequently into a position where the heaviest usage is found.
Depending on several factors, the 3rd, 8th and 11th treadmill in a row of cardio equipment may receive significantly more usage than the other treadmills in the arrangement. Why is this? It could be because of the location of T.V.s in your club, or because they’re underneath the speakers that play music. Alternatively, it could be that they’re not under the speakers that play music. It could also be because one has a better view out a window.
Whatever the reason, you can keep usage even across the bulk of your equipment through a simple rotational strategy. You just need quantitative, accurate data delivered to you in an easy-to-understand format.
Note: Don’t arbitrarily move your treadmills around because “you think” that certain treads are being used more frequently. That’s not going to extend your commercial fitness equipment’s lifetime value with any significance. It might, but it’s pretty much a complete guess.
How does fitness equipment intelligence impact your club’s overall profitability? Think of baseball before the introduction of sabermetrics and baseball after advanced metrics were introduced. The teams who embraced advanced data were able to compete in ways previously not possible. Over time, the teams who continue to manage based on gut instinct, got left in the dust.
With more and more clubs adding fitness equipment intelligence to the way they do business, it will become increasingly difficult to compete, or maintain the profit margins club operators are looking for.
Luckily, ECOFIT has created a simple way for fitness club operators to gain intelligence on their commerical fitness equipment. And once it's installed, you have acess to incredibly insightful data about each of your fitness machines so that you can make informed decisions. Here's how it works.