New Year is the time when many people decide to join a gym, or revisit a neglected gym membership, and in the current economic climate, gym owners will be concerned not only to attract new members but also to hold onto their existing ones, so now is a good time to get a good deal on your gym membership.

According to some of the media reports from the US, gym companies are “slashing prices” (LA Times, 5 Jan 09). These are interesting times from the market point of view because although many gym companies feel that the market is far from saturated, for many people gym membership is still a discretionary spend item, and in the short term at least, they may cut this from the family budget in favour of essentials.

Just before the credit crunch news broke, gym companies in the US were expanding vigorously. Matt Thompson, director of operations for Gold Gym (one of the biggest fitness center companies in the US) told a news agency reported via GMTN in October last year that he did not think the fitness market was by any means saturated:

“There’s a lot of room,” Thompson said. “The epidemic is obesity and the epidemic coming up is diabetes.”

But that would seem to be a long term view, and more recent news suggests that gym companies are slashing prices in order to attract members in the short term.

Here are a few tips (some of them courtesy of the LA Times) on how to get a good deal from a new or existing membership package:

  • Have you lost your job? Ask if the club will freeze your membership until you have found a new job.

  • Check the payment terms: if you can’t afford to lay the cash out in one go, go for monthly payment terms.

  • Avoid getting locked into a one year contract.

  • Avoid paying a joining fee – many clubs waive this from time to time, and some don’t have them any more.

  • Make sure you go through the list of facilities on offer: clarify what is included in your membership fee and what you have to pay extra for.

  • In many gyms, a good selection of classes is included in the membership fee, and you also get an assessment and personal training program from gym staff without the need to hire a private personal trainer (make sure you ask about their fees).

  • Check your employer’s benefits package: does it include free or discounted gym membership? Or if your doctor referred you, is there a way you can get this paid for or supplemented under a company occupational health scheme?

  • Check your health insurance package: what benefits might apply to gym membership? Are there preferred suppliers the insurers recommend that might affect your premium?

  • Think about how far the gym is from home and/or work. You are more likely to use it if it is nearby.

  • Ask friends about their gym and whether they think they get value for money. Are they able to take you along as a guest so you can try before you buy?

From a budgetting point of view, if the cost of gym membership seems unaffordable, and yet you know it makes sense to invest in something that will help you get regular exercise and reduce your risk factors for obesity, diabetes, and other chronic long term illnesses, then look hard at your monthly outgoings. What can you cut back on? Perhaps fewer microwave meals and more fresh fruit and vegetables, simply prepared with a fresh protein dish? Or smaller portions? Mark all items on the list either Must have (essential) or Nice to have (non-essential). Put the gym membership down as a Must have and sacrifice some of the Nice to have items. Then review it in a year.

There is of course one more thing: once you join, make sure you actually go! Team up with a buddy or two if you find it hard to keep a commitment on your own: it’s harder to break a commitment with someone else and you could also share costs like travel and private personal training.

Sources: LA Times, GMTN.

Written by: Catharine Paddock, PhD