4 Data-based Insights That Can Save Health Clubs Money, Right Now.
Over the past decade, Ecofit has collected millions of data points from equipment at thousands of health clubs to help operators gain deep insight into their equipment ecosystems. Today more than ever, our data is speaking volumes about how small tweaks can translate to monumental savings. In an effort to help health clubs recover strongly, we’d like to share our most powerful data-based equipment insights, gained from working with some of the world’s most prominent club chains. We’ve found these four truths apply to gyms large and small. They are actionable insights based on high-quality data analyzed across many facilities.
1. Every gym needs a comprehensive, data-based equipment rotation plan. Even if your club isn’t busy around the clock, there are undoubtedly pieces of equipment that bear the burden of excess usage. In some facilities, our usage reports have shown a massive usage difference between treadmills of the same model on the same gym floor. This information can help maximize the lifespan of your biggest investments considerably. Rotating equipment correctly can save a club thousands of dollars in maintenance and replacement costs.
Tip: The impact of having consistent quality data on equipment usage is clear: It saves money and time. Guessing at usage patterns doesn’t pay off. A good rotation plan is only as good as the dependable data it is based upon.
2. Equipment longevity translates to significant money in your pocket. Conservatively, adding 2-years to the life of 50 pieces of cardio equipment translates to $11,000 savings per year. If you could extend the life of your equipment by 5 years, that’s a savings of almost $30,000!
Tip: The best way to extend the life of your equipment is to have a robust fitness equipment management system that allows you to monitor your entire equipment ecosystem as well as drill down on specific pieces for preventative maintenance and proper rotation. A good asset management system has been shown to extend equipment life by up to 5 years.
3. Out of service equipment costs you more than you think. In the article “10 Reasons to Dump Your Gym,” Men’s Journal advises its readers that the number one reason to break up with a gym is “broken equipment that doesn’t get fixed in time.” IHRSA agrees, stating that “You need to protect your investment and maintain customer satisfaction. You need to keep “out of order” signs off the floor.”
Tip: Don’t rely on members to let you know if equipment is broken. Even if you are alerted immediately (which is not always the case), you are already behind schedule. Accurate, consistent data from your machines can not only help you see what is out of order, it allows you to anticipate problems and schedule maintenance before a machine breaks.
4. Many clubs have the wrong ratio of equipment to free space. Data shows that a typical fitness facility is not using its floor space in the most productive way. Removing just 10 pieces of equipment from an under utilized space can free up more than 400 sq. ft. for other revenue-generating activities. Good equipment usage data can help you determine exactly how much equipment and what mix you need to maximize your space and make your members happy, while adhering to social distancing requirements.
Tip: The best way to know your ideal equipment quantity is to analyze equipment wait times across all hours of operation. Accurate usage data is powerful, not only for getting the right number of pieces, but for getting the right mix of equipment to satisfy members.
When it comes to maintaining your biggest investment, guessing at the right approach is rarely going to give good results. When equipment is monitored in real-time, the club operator has the ultimate level of control and insight, and the right information to make informed decisions about how to steer their club toward a successful and profitable future. We’re here to help!
If you’d like to learn more about how Ecofit networks can affordably network your equipment to provide high quality data, reporting and insights that saves you money, reach out to us to schedule a demo.
*The statistics in this article are based on collective data that has been analyzed from Ecofit networks customers, which include thousands of networked pieces of equipment across the United States and Canada.