B.Well Consulting: The 2 Week Membership Model

THE 2 WEEK MEMBERSHIP MODEL PART 1 OF "THE NEW MEMBERSHIP MODEL" SERIES

WWW.BWELLCONSULT.COM

“IT'S TIME TO DISRUPT THE CLASSIC MEMBERSHIP MODEL IN FITNESS STUDIOS.”

CHRIS BEER FOUNDER, B.WELL CONSULTING

About B.Well Consulting's New Membership Model Playbooks After a 20 year career in finance, I began to work with fitness and wellness owners to help them make data-driven decisions that propel their organizations forward.

Numbers are my thing and I’m definitely known as a mathlete, not an athlete. The purpose of this playbook series is to serve up simple tips for right-sizing your pricing options that are attractive to your clients, given the current environment.

As studios began to reopen for in-person classes after Covid shutdowns, many businesses struggled with how to organize their pricing options, given that so many things changed in the last year. I like to remind owners that intelligent pricing is so much more than a numbers game. When thought about correctly, your approach to pricing is a powerful way to build your brand and drive more profits.

But how do you access the full power of pricing? In this playbook series, we'll explore various models and the psychology that goes into a pricing strategy.

Let's learn together,

Chris

What You'll Learn in this Playbook What is a 2 Week Membership Model?

What are the benefits for my business?

What are the benefits for my clients?

What are the steps to adopt a new membership model?

WWW.BWELLCONSULT.COM

The 2 Week Membership Model

THE CONCEPT

A 2 week membership to a fitness facility is not a new concept (heck, Bally’s offered it before some of you were born!) but it’s an approach that will help you re-engage some of your clients and attract new ones.

Simply put, a 2 Week Membership Model is a recurring membership that renews every 14 days. It can be an Unlimited Membership (giving access to unlimited classes or credits every 2 weeks) or a Limited Membership (giving access to a set number of classes or credits every 2 weeks).

WHAT'S IN IT FOR YOUR BUSINESS:

Lower barriers to entry - meaning, it can be a lot to think about life in 30 day chunks of time, after all the change we experienced in the last year. It’s a lot easier for a client to visualize how your business fits into their life for the next 2 weeks than a large frame of time right now.

Cash flow - many people are paid twice a month, and would rather spread out their expenses to match the flow of their income.

WWW.BWELLCONSULT.COM

The 2 Week Membership Model

PRODUCT MARKETING

To create a "hot lead" list for your new pricing option, run a report to see the names of clients who have attended classes at your studio more than 10 times in the last 30 days.

Hone in on educating this group of clients on the value of this membership - and remember that sales usually don't happen with the first ask! Be persistent - this membership is valuable to this group of clients!

Other ways to promote the new pricing 2 Week Membership include: Social Media Stories Pre-Class Announcements In-Studio Signage

WHAT'S IN IT FOR YOUR CLIENTS:

We’re back to cash flow, from a different perspective - knowing, of course, recurring memberships give a business a more consistent revenue stream than just class packages, and a 2 week cadence gives a more regular stream of income to the business, allowing some cushion for payroll and other expenses.

What I refer to as "The Rule of 4.33."

We'll go through this fun concept on the next page.

WWW.BWELLCONSULT.COM

"The Rule of 4.33" Most people think of a month as having 4 weeks, but with 52 weeks in a year, there are 4.33 weeks I know what you’re thinking...

in a month.

"Stop being such a mathlete, Chris!" ...but hear me out....

For a client who is in the mindset of 4 weeks equals a month, a “$99 for 2 weeks of unlimited classes” membership equals roughly $198 per month, when in reality, you’re collecting $214.50 per client per month.

In business, details matter, and that’s why it pays to look at things differently.

About B.Well Consulting Our clients are intelligent, passionate entrepreneurs who have realized that investing in a project implementation or project

management

partner

is

an

essential step in taking their business to the next level.

Quite often, our clients come to us overwhelmed with balancing running a business and (quite often) running a family. They come to B.Well Consulting to either take something off their plate or learn how to operate in a more efficient manner.

"I love examining processes and thinking about how to make things work better. I am constantly creating connections with owners and managers of studios in an effort to learn and grow. Each conversation helps me expand my perspective and add new tools to my toolbox, which ultimately makes me a better partner to my studio clients.

Each client and organization is a new puzzle, requiring attention to detail and an ability to zoom in and zoom out to focus on the big picture. Each puzzle brings a new experience to the next, and I love helping entrepreneurs find their “missing piece,” whether it’s tweaking their pricing model, updating their tech stack or helping to unlock the power of their data."

- Chris Beer Founder, B.Well Consulting

WWW.BWELLCONSULT.COM

What's next?

All new clients begin with a free 30 minute introductory call.

CLICK HERE TO SCHEDULE A FREE STRATEGY SESSION