The effects of the current recession are being felt through practically every section of industry and society and the fitness industry is no exception. The good news, however, is that we know that recessions are cyclic and will, eventually, come to an end.
Fitness professionals are selling a service which, unlike vital commodities such as food and housing, is a discretionary purchase. This means that people see it as an optional choice. When they start feeling the financial pinch they are most likely to put these purchases on hold. So what can you do to prevent this?
Perhaps today you have a better chance than ever before of protecting your business. Society in the main understands the value of staying healthy; they know that they must maintain a healthy lifestyle to avoid illness and disease. Neglecting their health could lead to loss of income through illness so you must promote investment in health as an essential investment in future wellbeing.
If, and it may be inevitable, you find that you do lose business, you are going to have to get back to basics and develop new leads. Client turnover is likely to increase so you have to make a concerted effort to recruit new people.
Think laterally about how you can help your clients continue to afford your services, perhaps you could suggest a shared session to half the cost.
As a fitness professional you should also consider putting any spare time you have to good use. Take a good look at the opportunities in the industry and think about where you want to be when the recession ends. Perhaps you want to specialise in a specific area, if so, maybe now is a good time to get the training under your belt so you hit the ground running when things pick up.
So, think positively about recession, it’s happening and you can’t stop that but you can do something about how much it affects you both now and in the future when the boom times return.