Last night, a student’s mom told you they bought their gear online…
And, it was cheaper than you can get it wholesale. They purchased it through a website even though they knew your policy about buying all equipment from the school.
It gets frustrating, right?
You’ve probably thought it maybe it’s easier NOT to sell equipment.
Read on because it is very easy to beat the guys undercutting you and even have premium pricing.
Keep at it, merchandise is a lucrative way to increase your bottom line.
Here are five ways to beat those guys with strategies you won’t see in the “Art of War”!
#1 – Offer Guarantees
One of the easiest ways to sell at more profitable prices is to offer a 12-month guarantee with every product you sell.
But how do you do that?
Simple, first you have premium pricing that makes up for any returns, in the slight chance you might have them. Second, always size up on equipment and uniforms for children .
This alone, allows parents and members to feel confident that if something breaks, tears, or even gets outgrown, you will replace it, free of charge.
#2 – Enhanced Experiences:
Schedule a workshop once or twice a month for students that need to purchase their sparring & safety equipment. Hold a special order day where you will size everyone properly, teach them the basics of what each piece of equipment is used for, and how to properly use it. Then allow everyone to place their orders. Of course, you’ve already told them about your 12-month guarantee, and that they also get a free seminar when their equipment comes in (if you don’t keep it in stock). This is where they receive their equipment. Teach them how to put it on properly, confirm sizing, teach the rules of using the equipment (for example, your sparring rules, how to hold targets, etc). Then you provide time to actually try out their new stuff and get them even more excited about their training.
#3 – Installments
A complete safety package (sparring gear), might be around $300. Will that website or big box let them make payments? Probably not. It’s easy to allow your members flexible terms. Let them put $100 down, and set-up automatic installments of $100 for 2 remaining payments. Keep in mind, we tend to gravitate towards thinking about installments in 30 day increments but your member might be just fine with installments every 2 weeks. Ask them how they would like to take care of the balance, $100 every seven days, every two weeks, what’s best for you?