We all love buying new gear for the gym.
Members love it. Coaches love it.
Even watching the delivery truck turn up is a buzz. And for a business that slangs fitness, how could you NOT justify purchasing new shiny stuff?
But it can be a trap…
I bought a new electric circular saw recently. It’s fucking beautiful (a Festool, if you’re wondering). I bought it over at Total Tools, which is the disneyland of tools. It was my first time walking into this megastore. Immediately I wanted to browse every aisle. So much cool stuff, all the brands, specials left right and centre. I thought to myself – this place is the ULTIMATE trap for tradies
If you were working on the tools all day every day, how easy would it be to treat yourself with a little retail therapy every so often, especially if the retail item also contributed to your business?
I’d be spending all my savings there. Flat out.
It’s the same deal with gym equipment. It contributes to your business. Easy justification for spending them dollars…
But not all equipment is created equal.
And profit margins are easily eroded by whimsical purchases (which come around much more frequently than you’d think)
Here’s the big tip – scrutinize every single purchase closely. How the gym will benefit from it. How the bottom line will be affected.
Not every decision needs to be made based solely on financial ROI, but it always needs to be considered.