The fitness industry is changing. In the old days, people got a gym membership, went several times a week, and that was it. From now on, being in shape is no longer just about the state of your body. It's a lifestyle.
SummaryDetermine your nicheCreate a professional websiteDevelop a social media strategyBuild your inventoryWearable tech companies like Fitbit are making a big profit out of it. In fact, over $10 billion is spent annually in the United States on fitness equipment alone.
This means there is a market for people who think they have something unique to offer the fitness community. Here's how you can start building a fitness brand.
The first step to starting your fitness brand is determining your niche. This basically means that you need to choose a specific product line or target audience. But wait, wouldn't you want to attract as many consumers as possible?
While this idea might make sense in theory, it doesn't always work. If your fitness brand is very broad, you're going to be competing with Amazon, Dick's, and other big online retailers. Unless you have something different to offer, you'll probably be buried in this competition.
For most people, it makes more sense to narrow down your niche. Start with fitness as a whole and think about your specialties.
Maybe you are a calisthenics expert and want to provide high-end strength training tools. If yoga is your thing, you can develop a range of custom yoga mats. Think of a specific set of products that would satisfy a subset of the fitness world that you can focus your efforts on.
A lot of people are trying to get into the fitness industry right now. If you follow them closely, you've probably noticed that their websites are often visually appealing but also usable. Your website must meet or exceed them.
There are a few factors that go into determining the best eCommerce website builder. Of course, design and user experience should be your primary concerns. An e-commerce platform should also offer its users a variety of design templates. These should be easily navigable and provide high levels of customization.
Your e-commerce platform should also provide data analysis tools. These will be essential to increasing your sales over time. The referencing of your data in real time will allow you to refine your marketing and product strategies.
Social media marketing is essential. You will need to generate online awareness to get noticed. Instagram, with its visual interface, is ideal for online stores. Additionally, consumers almost always trust individuals more than brands.
You can use this to your advantage by working with social media influencers to boost your brand. Find fitness gurus in your specific niche and let them tell everyone how awesome you are.
See also:Finding the best time to post on social media sites
Your inventory should be somewhat flexible. Stock more items that sell well and only keep a few that don't move. It is also important to consider the return on investment of all your inventoried products.
Products that take longer to sell may still be worth it if they offer a high profit margin. Depending on the nature of your product line, you may also consider using drop shipping as part of your inventory.
This is where you act as an intermediary between the consumer and the supplier. You are not required to hold inventory or make bulk purchases. You simply list the equipment on your brand's site. Shipping is fully managed by the supplier or manufacturer. This can be a useful option for people who are just starting out and need to conserve capital.
Learning how to start your fitness brand is much easier with the steps above. These concepts will be of great help to you when setting up your business.
