The effects of COVID-19 have been felt across the fitness industry, and clear answers on recovery can seem elusive. Health club operators shouldn’t struggle to understand where their business stands in the recovery – gym member and cash flow metrics should be easy to access and compare to past performance.
Until recently, many financial decisions made by health clubs were designed to weather the shutdown; now many are looking at how to operate a healthy business in the next quarter, six months, and into 2021. Doing this right calls for a mix of quick business decisions based on how your gym location’s joins and memberships are trending, as well knowing how to make strategic decisions around long-term changes to your business model if you need to do so.
You likely have a set of key reports that you rely on for day-to-day gym operations and quarterly planning, but these don’t give straightforward insight for the massive shifts due to COVID-19. To help give you the year-over-year comparisons you need, ABC’s data scientists have taken the critical gym reporting needs we’ve heard from clients and developed an all-new Rebound Reporting suite, available to every customer today.
These reports have two focus areas:
Revenue Analysis. You’ve heard it many times during the crisis, from our initial advice for health clubs as clubs began to close to numerous webinars from industry leaders: cash is king. By featuring gym revenue and member dues totals, profit center and revenue source breakdowns, to month-by-month analyses, the Revenue Analysis reports provide a clear starting point and a baseline for the future health of your business.
Knowing exactly where you stand and understanding the relationship of your current finances and income versus last year gives you a clear picture of what you’ll need to keep growth on track, with easy insights into specific drivers such as annual fees, POS totals, personal training, and more.
Member Analysis. Member engagement takes many forms, including understanding your joins and cancellations, net membership, and check-ins. This information and more has been compiled into the Member Analysis section to deliver visibility into both your membership base and its behavior. Will you convert more new memberships than last June? Have you seen a spike in a specific cancellation reason versus last year? Are member check-ins trending toward normalcy? You’ll be able to answer and visualize this information quickly and easily.
Beyond making business decisions, keeping your team informed about your finances inspires trust and is a key part of gym staffing readiness. Get the full details on our enhanced event notifications the Rebound Reporting in our customer Help Library.
Rebound Reporting is just one of several recent product releases from ABC which aim to help health clubs reopen and thrive in the new normal. We’ve also released Capacity Management, which assists your staff in managing social distancing, and live online workout notifications to boost virtual event engagement. Plus, keep an eye out for many more reporting capabilities from ABC in the coming months.
Looking to amplify your member communication efforts? Check out our Club Rebound Bundle, a comprehensive set of new features from ABC and select offers from Certified Partners. The bundle is designed to help businesses using ABC’s club management solution recover, faster. Get more information on our new technology and offers, plus pick up a free e-book on marketing strategy, on the Club Rebound Bundle page.