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:
Interesting…I have used money as a motivator in the past (from $100 to a full refund of ten sessions) if specific mutual goals were attained, and have had little or no success.
I personally would not have this business concept as the basis of income for a health club.
The “injury or illness” factor could be abused.
On the other hand, this concept would work well on a individual PT/client relationship sponsored/marketed through the facility.
“Dollar for pounds or inches” in the form of membership dues, retail dollars in the facility or gift cards from local merchants would be another type of incentive.