Ben Bergeron: Guidelines For A Successful Retail Store In Your Gym
How do you choose what to sell at your affiliate? For starters, you shouldn't be "selling" anything. Your focus, time and energy should always go into creating relationships, training your coaches and the health and happiness of your members.
Having said that here are a few guidelines for setting up a retail store at your gym:
1. Carry what you use personally. If you use it yourself you don't have to "sell" it, you can simply promote it. I partner with companies I believe in whose products benefit my members.
2. Carry products that you know will benefit the health, performance and wellness of your community.
3. Keep your inventory of convenience items high (ex: workout/recovery food).
4. Keep inventory for apparel low. Create demand. Think 'Limited Edition."
5. Make pricing simple, easy and consistent. Display prices and don't change them.
6. Create a system that allows members to charge their account instead of shelling out cash for every purchase. This lowers the barriers to purchase.
7. Use ACH and do one monthly charge for each member for the month. This reduces the per transaction cost.
8. Don't do an online store. You will loose more in inventory than you will make.
9. Details matter when displaying. Labels out, full shelves, clothes folded and organized.
10. Don't do sales. You will create a habit with your customers where they will wait for deals.