In our day to day business at STAK Fitness, we hear a lot from our customers about the importance of being very cautious with procurement of new equipment and training tools.
Acquisition of equipment and training tools is a big step in making sure your fitness facility is well equipped to serve more people better.
However, with more and more businesses challenged for profit levels of yesteryear, a common challenge we face is the one of inexpensive equipment.
On the surface adding inexpensive equipment, or lower your upfront costs, are a simple way to increase profits.
Or is it?
There is a hidden cost to low prices. Not just in fitness equipment, but in everything on the market.
With commercial fitness equipment, just a few of the hidden costs include:
- Unhappy patrons
- Unhappy staff receiving complaints
- Perception of poor day-to-day care of your patrons needs
- Hurts retention
- Hurts sales tours and member commitments
- Lost revenue from patrons
- Increased payroll expense in administrative costs of managing the down equipment/client complaints/lost productivity/ increase time managing the repair etc.
- Increased repair bills and increased cost of ownership.
As a fitness supply and education company, we see ourselves as being responsible to outlining all the hidden costs, so your investment does not have hidden costs.
Our next blog will focus on the roadmap to getting maximumreturn on that investment.