Productive Asset & Equipment Management: Gym & Fitness Chains

Today's generation is not lazy, they might not play on the field as much due to their busy schedules, but they keep their health on priority and workout hard to maintain the healthy shape and body size.

It is not only to shred extra kilos but to keep themselves fit and healthy. People go to gyms and fitness chains to maintain their health and workout.

People are giving a lot of business to gyms and fitness chains for providing them with a convenient platform with organized workout equipment and several other benefits such as a trainer, health drinks or eatables, special membership discounts, etc.

What are the Assets and Equipment involved with Gym & Fitness Chains?

Gym and Fitness Chains are very much dependent on the assets and equipment that members use to exercise.

Gym equipment is the device used for physical activity to increase the strength and effects of that exercise.

Some popular and most common gym equipment's are:

• Treadmills
• Dumbbells
• Kettlebells
• Metal Plates
• Stationary Bike
• Chest Press Machine
• Chest Fly Machine
• Shoulder Press Machine
• Lat Pull Down Machine
• Cable Row Machine
• Biceps Curl Bench
• Leg Press Machine
• Leg Extension Machine
• Abdominal Crunch Machine
• Power Rack
• Smith Machine, many more.

How do Gym & Fitness Chains work?

A Gym can be a place with a large room equipped with a range of facilities which assist to improve and maintain physical fitness, health, and increasing strength of the human body.

Smooth gym operating is an ongoing process with several important procedures. The most important responsibility of the gym and fitness center owner or manager is to maintain the exercise equipment.

Good preventive maintenance of the gym equipment can run the gyms and fitness chains to be more safe, productive, and can build a healthy environment for the members.

Note:

1. The Health Club Market is worth $87.2 million globally and has it is being grown since 2008. [IHRSA 2018]
   
   
2. On average one gym member is worth $517 to a facility each year. [Wellness Creative Co. 2019]
   
   
3. From 60.9 US million gym members in 2017, it has grown 62.5 million in 2018 i.e., raise of 2.6%.

Modern Asset Management Software for Gym & Fitness Chains

1. Simple and Smart Software

Gym & fitness chain owners and managers should adopt a simple and smart asset tracking management software. This software shall do every possible assistance in the simplest and the smartest manner.

These features will include:

• Track
• Replace
• Monitor
• Manage
• Report
• Analyze
• Depreciate

2. Easy to use

Nobody likes the software with features and accessibility which is difficult to understand. Therefore, the software should be easy to use or user-friendly.

3. Customizable

For an effective workflow or daily operation, the software must be tailored according to your specific requirements.

4. Quick Updates with Cloud-based Software

Nowadays everybody is working on the cloud to keep their data secure and save their time as well. So, as they get regular updates of software and real-time updates of work.

Hence, you can use all the features of the application whenever and wherever you want, with just need the availability of an internet connection.

5. Reduce Maintenance Expenses

When the whole data gets uploaded on the software it gives notification and alerts for the repairs and maintenance of assets and equipment, reducing their expense over the gym & fitness chain owners.

6. Enhanced Productivity

Through the software management of assets and equipment, their performance increases, decreasing their downtime and hence increasing the overall productivity of the gym & fitness chains.

7. Smart Sync with Mobile World

All the modern software works on the ideology to provide mobile applications as well for better usage and experience of the users. Asset management software also comes with mobile application assistance.

Therefore, you can use all the features of the software on mobile too.

How Asset Management Software is Beneficial for Gym & Fitness Chains?

1. Asset Track and Management

The asset management software helps you to track and manage your assets and equipment with high value. The software tracks your assets and equipment in real-time and plays an important role in increasing the lifespan of an asset.

Features of asset tracking and management are:

• Asset Tagging
• Asset Audits
• Check-in/Check-out
• Asset Recovery
• User Restriction
• Asset Tracking
• Reporting
• Support
• Security

2. Inventory Management

Available stock is counted as one of the valuable assets for any gym & fitness chain. The huge stock would carry the same level of risk in terms of spoilage, theft, damage, and shifts in demand. Therefore, the inventories must be insured, or they must be discarded at clearance prices if not sold or rather should be destroyed.

Inventory Management is important for any business of any size, for the following reasons:

• When to restock certain items
• What amount to purchase
• What price to pay
• When to sell
• At what price to sell
• Inventory planning and control
• Movement of stock
• Re-order level

3. Purchase & Requisition Management

The software will allow a business to integrate all purchase request to a single cloud database, to be monitored and controlled from everywhere, anytime.

The cloud-based purchase requisition management omits most of the paperwork, reduces manual involvement and human errors by ensuring transparency and reduced operational costs throughout the cycle. The software improves accuracy, execution and process efficiency.  

The key features involve:

• The requisite is verified with the related existing invoices and purchase orders before it gets approved.
  
  
• Reports are generated with zero blocking and delay, therefore have a real-time vision.
  
  
• Cloud-based storage is centralized with its effortless and seamless storage and access for the approval of requests.
  
  
• Purchasing information can be maintained and kept secure by allowing permissions that are user-specific with conditional access and control.
  
  
• Automated notifications and reminders are sent to the individual related to seek timely actions from the stakeholders.

4. Equipment Maintenance Management

The main aim of equipment maintenance is to maintain the functionality of the equipment and to minimize its breakdowns.

For mechanical equipment, the maintenance management will involve repair, replacement, and serving of tools. It also ensures the proper working of the equipment and to intercept fluctuations that occur in it.

• Machine proficiency - Due to long working hours preventive maintenance guarantees optimization and preserves the life expectancy of the equipment.
  
  
• Detection of Potential Issues - Assurance of your equipment working under safe conditions, both for the equipment itself and the member. Potential issues can be detected in advance and preventive action can be taken before they cause any problem physically or financially.
  
  
• Time-saving - This is nothing in contrast with downtime caused due to malfunctioning or not functioning of equipment. The process takes less time than unexpected repairs.
  
  
• Money-saving - Unexpected breakdown costs a lot of money and decreases productivity. So, overall preventive maintenance saves a lot of money for you.

5. Incident Management

The aim of Incident Management is to restore normal service performance as soon as possible and to minimize the adverse effects on your gym operations, ensuring the quality and availability of the service.

The benefits of Incident Management for gym & fitness chains owners and managers are:

• Service quality maintained
• Scope of improvement
• IT Service management documentation
• User satisfaction

6. Utility Management

Utility asset management software assists companies in managing, monitoring, analyzing, and creates a report on consumption. It is also helpful in creating utility bills of yearly, monthly, or day-basis and calculating & allocating costs internally.

The biggest advantage of the software is that you can set alerts and warn for consumption. So, when consumption is overdone you will receive alert & notification.

Some of the systemic operations that are done with utility monitoring & management include:

• HVAC system
• Electrical operations
• Tenant override
• Elevator monitoring
• Video surveillance systems
• ID and card management systems
• Security and alarm systems

Also Read: Key Features to look while choosing Asset Management Software

Conclusion

According to the statistics, between the years 2008 and 2018 gym membership has grown by 37.1%, as compared to the total number of club-goers which increased by 34%.

Therefore, asset management software is a very important aspect of gyms and fitness chains. As above discussed, it has many benefits and advantages for both customers and owners. Making asset management software to be provenly strong and mandatory.