Boost Revenue Through Retail (Part I)

Adding retail space to a studio’s welcome area is an increasingly popular way to boost revenue and create a buzz amongst clients. With the ever-expanding range of products to sell; from snack bars to apparel to workout props and even jewelry or beauty products, your devoted clients love to see what else you can offer them. If you already sell merchandise, or are considering adding this to your business model, then this resource is a must read. In this three-part series, you will learn what to sell and how to sell, to ensure you are best-positioned to maximize the potential of your in-studio boutique.

Why Should I Do It?

Selling merchandise is a nice way to create a stronger connection to your clients. Who doesn’t enjoy shopping or at least browsing?! Think of it as a tool you can use to bring buzz to your studio, something to feature in your newsletter and a great complement to promotions you can run throughout the year. Oh, and if done properly, the mark-ups can add a nice boost to your revenue numbers. 

What Should I Sell?

Now’s the time to do some research - both inside the studio and out. Start by taking a cue from your clients, observe what they wear (brands and style) and what they use (towels, water bottles) when they visit your studio.

Then start small with practical and useful items that your clients need to participate in your class such as socks, hair ties or yoga mats. If you are unsure of what will work best, begin by selling items that don’t require different sizing options and that involves minimal effort on your part. 

As you get more comfortable and more familiar with your clients needs and wants, add to your collection with a selection of workout tanks or capris. Be sure to keep your selection limited to what is appealing to your clients and fits with your brand.

If you offer high-energy sweaty classes then performance fabrics or water bottles will work well. But if your sessions lean more towards being meditative or restorative then soft draped fabrics will be more appealing and a better fit.

Do you require your clients to wear socks? Then pointe studio or SHASHI socks are a great and easy-to-sell product offering. Do your clients live in their workout clothes even outside the studio? then stock-up on the latest brands of athletic wear (check out www.carbon38.com for the top trending looks).

If your clients enjoy working out at home, then props such as therabands or a pilates circle are good options and a great opportunity for you to give your clients a 5-minute workout routine they can take home - bonus!

If you are selective about what you sell and you really love the products, then your clients will love them too!

Watch out for Part II and Part III on how it works and how to sell in your inbox next week.

 

~ SG