Last updated on November 20th, 2023 at 01:42 PM
In the health and fitness business landscape, managing payments effectively is just as crucial as providing top-notch services.
An efficient payment system can contribute immensely to the customer experience, ensuring smooth transactions and an enjoyable customer experience from the get-go!
However, choosing the best payment processes can be challenging, especially when there are numerous options to consider.
Here I take a look at the tools available to make transactions at your fitness or health business as efficient and hassle-free as possible. Let’s dive in!
Recurring Subscriptions For Gyms And Fitness Centers
Today, US consumers spend an average of $810 per capita on health and fitness-related activities – a figure that is only second to the average spent in Monaco!
To tap into such wealth, finding the best payment option is critical and, in the case of gyms and fitness centres, recurring subscriptions may just be the answer.
Worldwide, recurring subscriptions are a cornerstone in the revenue model chosen by gyms and fitness centres. With this payment method, members can enjoy unlimited access to facilities and services, boosting the value they get for their money.
What’s more, recurring subscriptions ensure consistent cash flow which helps your business plan future growth strategies, build customer loyalty, streamline payments, access customer data, and set the foundations for sustained financial health.
Last but not least, recurring subscriptions are extremely easy for your staff members to manage, which can help you optimize your human resources.
Gift Cards And Certificates
Gift cards and certificates can serve as a powerful marketing tool for your health and fitness business. They not only increase your brand awareness but also bring in new potential clients who may continue as long-term members.
By offering these payment options, you give current members an easy way to share their positive experiences with friends and family.
As an added advantage, since they are prepaid, they provide immediate revenue and help balance incomes during slower months – such as during the holiday season!
Discounted Options For Seniors And Young Members
Offering discounted options for seniors and young members is a financially-friendly way to promote health and wellness.
This payment method encourages more frequent gym visits, which can lead to better overall health, reduced risk of diseases, and improved fitness.
For seniors, regular exercise is also important to boost their immunity and help manage symptoms of age-related health conditions.
On the other hand, young members can get started with healthy habits early, setting a strong foundation for lifelong fitness, all while sticking to their budget.
POS Solutions For Spas And Salons
Spa and salon POS solutions provide wide-ranging payment options that enhance convenience and the overall customer experience. They allow your clients to make payments via credit or debit cards, reducing the hassle of carrying cash.
Another feature of POS solutions is that the software they are based on stays up to date with the latest technologies. This enables customers to choose their favourite payment options, such as mobile, online, and contactless payments.
Cash Payments For Last-Minute Visitors
Cash payments continue to provide a simple and straightforward payment method, especially for last-minute visitors looking to test out your health and fitness facilities.
It allows them immediate access to your services without the necessity of setting up accounts or going through online payment processes.
Even better, by catering to last-minute visitors with cash payments, you can potentially convert them into regular members, broadening your customer base.
Insurance Coverage Options
Insurance coverage options can serve as another significant payment method for services provided at your health and fitness facilities.
Some treatments, like specific types of massages and physical therapy sessions, might be covered by health insurance plans.
By offering services that are eligible for insurance claims – and by setting up the right system to allow for insurance payments – you are able to provide greater financial flexibility to your clients.
Installment payments can make your health and fitness services more affordable to a larger audience. By splitting up the total costs over a certain period, members can manage their budget better, making commitment to a healthier lifestyle less financially daunting.
This can result in increased membership sign-ups and provide you with a predictable revenue stream. Plus, it is easy to set up instalment payments with services such as Klarna!
Unsure of the Best Payment Option? Poll Your Clients!
With so many payment options available, it is only normal to struggle to find the best option for your business. However, fortunately, there’s an easy way to pick the best payment methods to invest in: look at what your competitors are offering and poll your clients!
Last but not least, don’t forget to stay up to date with the latest trends!