Let’s face it: buying fitness equipment is expensive. And, replacing your fitness equipment can be just as costly.
If you run a fitness center, then you know this is your biggest and most important expense. Maintaining quality fitness equipment is crucial for customer retention and overall business success, and is even more important now in such a highly competitive market.
Deciding when to replace your gym equipment requires taking inventory of your finances, the safety and quality of your machines, and member satisfaction. Eventually, you’ll have to replace all of your gym equipment, but when exactly should you?
Deciding when to replace your fitness equipment
Each piece of gym equipment has an average lifespan, but this ranges from gym to gym depending on its starting condition and frequency of use.
Average lifetime of gym equipment:
While all of your dumbbells can last a lifetime, should they? Your members pay for a service and expect quality, and replacing your gym equipment shows them that you’re investing in them just as much as they are investing in your business.
Five signs you need to replace your fitness equipment
Replacing your gym equipment boils down to three indicators: safety, member needs and your budget. While this will look different for every gym owner, here are five signs that it may be time to replace your fitness equipment.
1. It’s a safety concern
If your current gym equipment poses a safety concern for your members, then it’s imperative that you replace it. The cost of a new machine is far less than any potential legal trouble you can get into from letting your members use faulty gym equipment.
2. It’s in poor condition
While some gym equipment can last 10 years or more, that may not exactly be the best move. Your members pay for your gym membership and expect quality. If your fitness equipment looks and feels outdated, then you may find some members looking elsewhere to meet their fitness goals.
3. It constantly needs repairs
Nothing turns members away more than gym equipment that's constantly out of order. If a piece of equipment needs continuous repairing, then cross reference the cost and frequency of those repairs with the price of a new piece of equipment. It may save you more money in the long run to just replace it.
4. Your members keep asking for it
If enough members are asking for a particular piece of equipment and it’s in your budget to do so, then buy it. Your members will develop a stronger sense of loyalty knowing that you're listening to their needs and taking the actions necessary to improve their gym experience.
5. It makes sense for your gym
If all signs point to yes, then it’s time to replace your gym equipment. If it’s in your budget and makes your members happy, then replacing your equipment may just make good business sense.
Preventative care for your fitness equipment
Practicing quality control in your gym can prolong the need to buy new fitness equipment. In fact, you can save money by monitoring your equipment often and replacing parts when needed.
Make it a priority among your team to frequently check your gym equipment and on the satisfaction of your members. Regularly doing quality control can help you catch small problems before they turn into big issues and require a replacement.
What to do with your old fitness equipment
If your gym equipment is in reasonable condition when you replace it, then you can sell it on Ebay or through third party buyers who are looking for discounted gym equipment or at home exercise equipment. This is a great way to earn some money back on your initial investment and maintain your budget for future gym improvements.
Conclusion: replacing your fitness equipment
You want to attract and retain your members, and the quality of your gym equipment directly contributes to member satisfaction. While any savvy business owner will try to avoid unnecessary expenses, replacing your fitness equipment can be an effective strategy in maintaining the loyalty of your members and attracting new ones to your gym.