Also, the promos they offer tend to always be focused on like a fake joining fee. Unless they really try to rip you off or charge way above market rate.īut that aspect, your lack of ability to shop a around or compare is interesting. You get to, you’ll decide based on, I don’t know what criteria, you know, we’ll get into the value drivers, but I think your ability to shop around is low. You probably just go to the first one you get. You have to go in, meet someone, chat to someone, you know, invest time and effort, shoe leather cost before you even get a price.Īnd so your willingness to shop around would be very low, clearly. They also have a weird, they make it almost impossible, as Joanna mentioned, to compare pricing, virtually no gym will have a, a price on the internet. Say if you’re, you know, do wanna work out this week and then next week, so they get you on a subscription model, which is almost way before the, the whole SaaS revolution. You know, they’ll have an onboarding system and all this sort of stuff, which to be honest, is probably some health and safety aspect to that, but I’m sure it’s also just a barrier to actually letting you just, you know, work out once, et cetera. Before most things were like, I think it’s probably almost impossible to go in and pay just for a workout, in a gym. There’s a lot of interesting stuff happening in the way they do stuff. I think, I actually think we can learn a lot from gyms. Like to some extent I think, I’m gonna disagree with this. So you’re thinking what’s the value of this particular plan? In my opinion, I really don’t think I’ved looked at customer segmentation at all well, they’re really just driving traffic to get sales through the door for cash flow purposes, and I think it’s no wonder that gym profitability is declining as a result. As a result of doing this over many years, it has led to a lack of trust in gym pricing, a lack of transparency, and you never really know what you’re gonna get.Īnd sometimes the plans can even change as well. I’m thinking very much, it’s very similar to like the recruitment model. It’s always targeted on, you know, time based, promotions, getting people in, driving traffic to meet a sales quota. Is it fair? Is it very, It’s very promotional driven. There’s very little price transparency and to my thinking like. It seems like the maturity of pricing is still dominated by that person who wants a sale for their commission. They wear the shorts, but really they really go for the hard sell.Īnd like from my experience, going to a gym and working for gyms for pricing. You know, they’re sort of dressed up as, you know, personal trainers. ![]() To me it’s pricing, chaos and indicative of discretionary pricing led to predominantly by the franchisees, the owners, but more particularly by the individual sales people that are driving that sales. Like really, Can anyone really think of a gym that has one clear price point for different plans? It seems as if, yeah, they’ve got millions of different price points. But I don’t really see improvement overall in the industry. Look, we do go to the gym, but I’ve actually worked with like a couple of gym companies with pricing. Uh, anyway, aside from that gym pricing, gym pricing, now we wanted to speak about that yet. But firstly, starting with that, Aidan apparently goes to the gym five times a week. A subject that I think a lot of people, both consumers and businesses can learn from. If you just listen to our podcasts, you may think we are just pricing gurus, but we are also incredibly ripped.Īnd so we’re going to cover, gym memberships and gym pricing. In today’s episode, we are going to cover something that’s very close to our heart.
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