I have recently read an article about 2 Harvard grads starting a company called Gym-Pact. The concept is to charge motivational fees only. Thus, if you stick to your weekly workout schedule, you will not be charged. If you fail to or leave the “pact” / program for reasons other than injury or illness, then a larger fee will be assessed.
What do you think of this?
Would this be a good program/membership for gyms or personal trainers to promote at the beginning of the year?
What would be the downfalls?
Any suggested pricing?
For the full article go to:
please note that the link does not work.
I had heard of this concept a while back, and then never heard of it again. I am not sure how one can enforce payments of such a virtual contract.
I think that gyms can do better by creating incentives for members to attend classes or by rewarding gym attendance.