How to Sell Merchandise at Your Pilates Studio
Boost your business by selling merchandise at your Pilates studio! There are a multitude of benefits to incorporating a retail space into your facility, whether you’ve just opened or have been in the business for years! It’s time to discover everything there is to know about setting up a successful store in your studio.
From increasing brand awareness to boosting your revenue, there are plenty of reasons to get started.
Think about it this way too: in addition to making people feel better physically, you can provide clients with all the products they need to optimize their workouts!
Your Guide to Selling Merchandise at Your Pilates Studio
We know that entering the world of retail may be a bit intimidating, so we’ve created a list of steps to follow when setting up your own Pilates studio merchandise space. Enter this new area of business with confidence with our exclusive tips!
1. Research the market
One of the first things you should do before you start selling Pilates merchandise, is familiarize yourself with the market. This will give you a clearer perspective on how to approach setting up a retail space at your Pilates studio.
Begin by looking at the latest products that would optimize your clients’ workout experience. There are a variety of options to choose from (which we’ll get into later), so it’s important to look at your current clientele and establish which would help them optimize their workout.
You’ll soon realize that your customers hold the answers to all your Pilates merchandise questions. Consider the types of products they would be interested in and what would help them maximize their time at your studio. It would also be wise to look at their spending habits at your facility to establish how much they’d be willing to pay for items. This way you’ll know whether or not to splurge on larger equipment or not!
Lastly, when researching the market get to know your competitors. Take a look at the types of products they’re selling and the cost of each. By studying their strengths and weaknesses when it comes to selling merchandise, you can come up with your own strategy to stand out in the market.
2. Decide what to sell
Now that you know the products available and what your competition is doing, you can start to think about the types of merchandise you want to sell.
Mats, water bottles, straps, exercise balls, and more! These would be a welcome addition to your retail space as clients would use them in every class. You can even consider selling bigger items like the Reformer or Wunda Chair, which are special machines designed to enhance the experience. Bear in mind that such machines can be expensive and costly, so get to know your target audience.
What types of people frequent your studio the most? Is it mostly millennials, seniors, or perhaps injured athletes? By getting to know your current clientele, you can establish the products that would attract them most. For instance, athletes may be more inclined to buy the larger special equipment as fitness holds a greater sense of priority in their life.
In addition to being more invested in health, people are also increasingly conscious of the environment. Make sure you show your support by only selling products that are environmentally friendly! After all, people tend to gravitate more towards businesses who support a cause and give back.
3. Make a financial plan
To sell merchandise at your Pilates studio, you need to create a financial plan. This entails a breakdown of all finances related to your new retail space.
In your plan, you must include the amount of money that you’re willing to invest into your new venture. When coming up with an amount to invest, consider the space and if you need to make any rearrangements to the layout at your studio, in addition to how much it will cost to source items from your supplier (we’ll delve into that more a little later). Bear in mind that you need to keep this business afloat month after month, so make the necessary calculations to ensure that you can sustain this new endeavor.
This document must also include the price list of your Pilates merchandise. Coming up with the cost of items can be difficult, so assess how much you’re spending on the production of merchandise to calculate your retail price. Also, consider the spending habits of your clients to ensure that your items are not too expensive.
4. Set up a selling system
It’s time to set up shop! In addition to selling products at your studio, have you considered creating a store online? With the help of WellnessLiving’s all-in-one Pilates studio software, we can make this a reality!
There are several advantages to setting up a virtual store. First, you’re broadening your target audience by putting all your Pilates merchandise into the digital space! Second, you’re providing convenience and ease to your customers. Many are opting to shop online, so give your clients that instant sense of gratification!
Not sure how to get started? WellnessLiving can help. And in addition to merchandise, you can also sell memberships and gift cards. Clients can pay easily with credit cards saved to their accounts and they’ll receive electronic receipts. It doesn’t get more convenient than this!
We also provide a variety of point of sale hardware for you to choose from in addition to tracking systems.
But wait, there’s more. In addition to selling on a browser, you can also set up your online store on your client apps. Essentially, having a branded client app allows your members to shop directly from their phones, talk about convenience!
5. Source your items
After establishing your selling system, find suppliers who can produce your Pilates studio merchandise. Make sure to do your research as this will be a long-term relationship!
It’s very important to partner with suppliers who understand the vision you have for your Pilates merchandise. The worst thing would be to join forces with someone who isn’t able to deliver a line of products that meet your specific needs and requirements. Find someone that you can trust, who has time for monthly meetings to make sure everything is going smoothly.
Also, consider finding a supplier close to your area to have more control over the production process. This will make it easier for you to check in and ensure that your items are up to your standards. In addition, you’ll be able to save money since you don’t have to worry about expensive shipping costs!
6. Promote, promote, promote!
Since people only know your Pilates studio for your classes, you must advertise your new line of Pilates merchandise! Don’t just rely on word of mouth, as you can reach a much wider audience through various marketing methods.
There are a variety of different ways to entice customers.
Email marketing is an effective method to let your customers know about the latest developments at your facility. Since you already have a list of clients and their contact information, send out emails letting them know that you’re introducing a retail space to your studio.
To reach a larger audience, use social media to spread the word. Social media is a great advertising tool and it’s free! There are several different platforms to choose from, so study where your clients like to go in the digital world.
Pro tip: try not to use more than three platforms to promote your Pilates merchandise, as an overflow of information can hurt your business.
7. Keep customers engaged
The final step to ensure success, is keep your customers engaged. People often get bored and lose interest quickly, so always try your best to maintain their attention!
One way to keep customers coming back to buy more merchandise is by setting up a loyalty program. WellnessLiving can help you set this up digitally with our rewards program! Through this feature, you can give clients the opportunity to accumulate points every time they make a purchase. Once they’ve reached a certain number of points, offer discounts and free items! When clients realize you appreciate them, they’ll stay loyal to your business.
Another way to keep your customers interested is by consistently keeping up with the market to ensure you always have the latest items on your shelves. There’s always new equipment and advancements in the world of fitness, so make sure you’re up to date.
To Sum Up…
Selling Pilates merchandise at your studio is a great way to increase income and attract more clients. By following our steps, you’ll become an expert in the retail world in no time!
It would be our pleasure to assist you in any way we can as you enter a whole new world of possibilities. In addition to helping you create your own online store and rewards program, WellnessLiving can increase engagement with a range of client retention programs and boost your brand with several automated marketing options.
Eager to learn more? Sign up for a free, no commitment demo today and explore our all in one management system!
