Are you maximizing the retail opportunities at your CrossFit® Affiliate? Probably not, and we can relate. As Affiliate owners ourselves, for years we were making excuses. Such as, we're too busy, we don't have the space and then...where would we even begin?
Here are the top 5 tips we've learned through the years to maximize your retail revenue at your CrossFit®Affiliate:
1. Your Lobby is the way to go!
Whether your customer is coming or going, that is where you what to start. No matter your available space or the limitations, let's work with what you've got. Fortunately, for Dynamis Crossfit we have an amazing member coach (Shout out to Peezy!) who helped build this fantastic set up:
You will notice we don't have much on our shelves...Why you ask? that's because its been sold and we are waiting to receive more!
2. Promote, promote, promote
Put your gear on your coaches during class, feature your latest design and stamp "Coach" on the back and send an email to your membership featuring your newest design. Do you sell supplements? If so who uses them and why? Discuss with your members why you carry what you carry. Don't just put things on the shelves and expect them to sell, inform your members, educate them and watch your retail sales climb!
3. Make your markup
For most items...mark it up 100%! For example, if you buy athletic tape for $1, sell it for $2 and help maintain a healthy bottom line. For apparel, with the Affiliate Marketplace 40% is your magic number, buy a t-shirt wholesale with no quantity minimum at $15 and sell for $25.
We encourage you to take these 3 simple steps and implement them immediately, just a little attention to retail at your Box can pay tremendous dividends. Owning a successful small business has enough challenges, let us help you maximize your retail revenue.