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:
I haven’t read the article but I don’t think it would be successful.
Here is why.
Real estate–way to costly to invest into people who are resistant to change. The population who really need the gym most tend to be of low-socioeconomic status. People who engage in regular physical activity tend to be educated and a higher socioeconomic status.
The motivating factor for becoming a member would be external. If an individual doesn’t have a good reason to adopt a healthy lifestyle and be committed to being healthy, then they will quit. It is all about changing behavior and you can’t do it through bribery which is what I think this is in a nutshell.