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These strategy development tools will be helpful for existing gyms and entreprenuers just finalizing their rock climbing gym business plan.It’s a simple question, but answering it is more difficult. Maybe you have the tallest walls, the cheapest membership, the best climbing team, or the most fitness classes to lure climbers to your routes.In general, climbing gyms have more elastic demand.
At the same time, don’t try to be everything to everyone. To choose your competitive advantage, look at areas where you already excel.
It’s even better if your strengths are your competitors’ weaknesses. Choose a trait that is currently lacking in the market and invest in making that your strength.
For recreational climbers who stick to indoor climbing, why should they choose your climbing gym over other gyms or fitness studios?
You may have the tallest walls and host the coolest climbing comps, but some people just want a fun, friendly vibe at their climbing gym and yoga classes on the weekend.
It should be a trait that is unique, desirable, and one that you can take clear action to improve upon.
Learn more about competitive advantage and how it applies to your gym in 3 Climbing Gym Industry Secrets Explained by Auto Belays – Part 1.If demand is inelastic, price has little to no effect on the quantity of memberships or day passes you sell.If demand is elastic, demand will be greatly affected by price.In other words, what happens if you raise monthly memberships by , , or ?Or what would happen if you raised or lowered your day pass rates?To help set your prices at the right level, consider the elasticity of demand.Elasticity of demand is the extent to which demand for your product or service is affected by changes in price.Learn more about elasticity of demand and how it applies to your gym in 3 Climbing Gym Industry Secrets Explained by Auto Belays – Part 2.Creating an exceptional customer experience is key to building a community at your gym, gaining long-term members and earning repeat business.Providing this experience and creating value is all about understanding who your customers are, what they want, and what they expect from a climbing gym.Not all of your customers think alike, so developing buyer personas is a helpful exercise in understanding your customers.