When you open a gym or fitness studio, it’s your job to set the pricing structure. How can you accurately calculate what to charge members their monthly memberships?
Pricing definitely isn’t something you can guess. Your gym’s pricing strategy needs to cover overheads, running the facility, paying staff (and yourself) and making a profit. Winging it is not a good strategy for coming up with a pricing structure.
We’ve come up with a clever little calculator that will help solve the challenge of “what should I charge for gym membership?”
5 different types of gym membership models
- Monthly direct debit – a fixed fee for unlimited access to your gym which may or may not include classes
- Annual direct debit – a slightly cheaper version of your monthly direct debit, to reflect the larger upfront payment
- PAYG – pay-as-you-go gym access allows people to pay for one-off visits. PAYG payment models usually include day passes (where people pay a flat rate for all-day access to your facilities) or a class pass (enabling them to attend a specific session)
- Bolt-on services – you could offer add-on purchases for classes, small group training, or specific studio sessions like Spinning
- Class passes – memberships for people who only want to attend classes and not the gym
A calculator that works out what to charge for gym memberships
There’s an in-house team of devs working away on Striive. So we asked them to put their coding know-how to work. They came up with this clever calculator. Play around with it. It will calculate your gym's max membership capacity, your projected gross monthly income, and what you can earn with peak and off-peak rate membership fees.
How to calculate gym membership pricing structures
Don’t fancy using our automatic pricing strategy calculator? Here’s what you need to think about. How many people can actually use your gym or studio space at one time? This includes floor space, cardio equipment, strength stations and anything else that represents one person using your facility.
How long do people spend in your facility? This is easy if you run a class-based offer, a bit more difficult if you have an open-gym style facility.
Now consider your opening hours. Are you 24/7, or do you offer different hours on different days? Dividing the number of hours you’re open with the average duration of a member’s visit will give you the number of membership cycles your facility has every day.
From there it’s a (relatively) simple matter of multiplying these membership cycles by the max number of members you could fit into your space at any time. Voila – that’s your maximum capacity.
There’s a lot to consider when you’re coming up with membership prices for your gym. We took all of them into account when we built this gym pricing calculator.
What is my gym facility pricing strategy?
Striive’s pricing calculator does it all for you, then goes one step further. Punch in your numbers and it will tell you your gross monthly income for peak and off peak membership rates.
Give it a go – and share it with your fitness industry friends.