Raising Your Rates Part 1: Determining a Profitable Rate

August 10, 2021 by
Photo Credit: Factory Forged (instagram.com/factory.forged)

It’s no secret recent months have been hard on affiliate owners. In many cases, the financial burden was too much to bear with debt averaging $75,000 and a result, widespread gym closures. In other cases, financial stress caused gyms to raise their rates.

  • Chris Thorndike, the chief executive officer of Factory Forged—a business coaching company that works with CrossFit gyms all over the world—has helped 50 gyms raise their rates since the start of the pandemic. 
  • Further, in a survey of 66 gym owners, 36 said they have raised their rates in the last six to 12 months, while another 15 said they intend to roll out a rate increase in the upcoming weeks.

Not a Pandemic Problem

Though raising rates now might seem like a knee-jerk reaction to the pandemic, gym business coaches say that member rates at most small gyms needed to be higher, even long before the pandemic. 

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