Multi-Family Housing – 3 Ways to Capitalize on Fitness

The popularity & demand for fitness has never been greater. As one of the worlds most robust and ever expanding industries (generating over 32 billion dollars per year & 20% growth in the last 5 years) it’s imperative for all industries, not only glean insight into it’s success but to incorporate health & fitness in to it’s own offerings when possible.

Now when considering the multi-family housing industry – statistics show us that approximately 86% of all renters report that having a fitness center where they live is “very important”, which by default, makes fitness centers the most valuable communal offering available. Yet many Multi-family communities still either under-value or altogether miss the staggering opportunity that this asset represents.

We see the opportunity of fitness amenities missed in a variety of ways which include how the majority of communities either provide insufficient attention & care of the amenity itself -to- the sales process where the fitness center is presented as an equal feature to the use of the lawn chairs or fire pits in the courtyard. The reality is that not all amenities maintain equal value to the user and therefore should be cared for, maintained and presented with the applicable time, dedication & passion required.

Now that we’ve established the present demand and opportunity that an effective fitness amenity has to excite & motivate potential tenants, it’s important to review execution. The following three steps will guide your team through the process of establishing and selling your community around the value in which your fitness amenity represents.

1.    Attention

The first step of course is the requirement of your attention. The following items should be assessed by you and your staff on a daily basis and a professional fitness organization on a regular interval.

·        Maintenance & care (correct functionality, stock of supplies, cleanliness, optimal performance)

• Aesthetics
• Organization
• Flow & Spacing
• Entertainment
• Functionality
• Safety
• Unique facility offering (x-factor)
• Ease of access

2.    Optimization

The next step is now moving beyond the basics and is often never a consideration for most communities. However once the fitness center is proper condition, we must consider what products / features of the facility will set the space over the top and captivate the user. This is where a knowledgeable and forward thinking professional fitness organization is essential.

• Assessing what unique equipment & accessories are present
•  Implementing a captivating product line-up or select pieces
•  Incorporation of programs & features with consideration of industry trends
• Ensuring all-inclusive workout offerings (Cardio, Strength, Functional & body weight)
•  Seeking the positive feedback of existing tenants (third party validation)

3.    Sales Incorporation

Now that we know our fitness amenity is in proper aesthetic & functional condition and the space has uniquely captivating features, it becomes imperative to incorporate this knowledge, the actions taken in the above steps as well as our own passion for this space into the sales process. The following are areas where this content should be added.

• Property walks with potential tenant (discussing specific features of fitness amenity and gauging the desires/experience of the client) – ‘hands down’ the most under performed action but holds the greatest potential

• Social media – Higher amount of fitness content should be applied to social media platforms (social media is by in large dominated by fitness influence so speaking to what your client is already seeing is a WIN)
• Website
• Email blasts / Mailers / Magazine ads
• Videos / Commercials (example promo below

  We hope this information is extremely helpful. The opportunity of selling against a commercial fitness amenity will be ever more prominent as the concept of fitness & the industry itself continues to scale.

  If you found value in this article and would like support in enhancing your fitness center to captivating status, our Premier team of fitness experts would love to support you & your property!