Securing budget approval for fitness and wellness programs

As a property manager, advocating for the integration of a fitness center and wellness program — or expanding your existing fitness centers’ program offering — into your building’s amenities can help boost tenant satisfaction, retention, and overall property value. However, securing budget approval for robust programs requires a strategic approach. Here’s how to build a compelling business case and secure budget approval for these valuable amenities.

Conduct a needs assessment
Conducting a thorough needs assessment is essential to tailor your proposal to the specific requirements of your tenants. Start by distributing surveys to gather feedback on their interest in various fitness and wellness programs. Analyzing the amenities offered by competing properties can also provide valuable insights into market standards and expectations. If your property already has a fitness facility, reviewing usage data can help identify gaps and opportunities for enhancement.

Build a strong business case
It's important to engage key stakeholders early in the process to gain their support and address any concerns. Schedule meetings with building owners, financial officers, and key decision makers to discuss the potential benefits and financial implications. Maintaining regular communication and keeping stakeholders informed throughout the process with updates can build trust and support for the program.

Present a compelling business case that clearly outlines the benefits of a fitness center and wellness program. Highlight that fitness and wellness amenities can lead to higher tenant retention, reducing turnover costs.

Your business case should emphasize that properties with fitness and wellness amenities are more attractive to prospective tenants, increasing occupancy rates and allowing for higher rental fees. Satisfied tenants are more likely to renew their leases, which stabilizes occupancy rates and generates steady income. A fitness and wellness program can help boost employee wellbeing and productivity, making the property more attractive to your tenants and their employees.

Estimate key components and milestones
Presenting a realistic implementation timeline with key milestones and deadlines can also help your stakeholders understand the feasibility of the project. When you partner with HealthFitness, we can help you show how the investment in a fitness center and wellness program will pay off over time. Our process for creating your solution is informative, reliable, and collaborative to help us establish the following:

• Project definition and scope

• Feasibility study, planning and design

• Operational and staffing model

• 3- to 5-year business planning

• 90-day implementation process

HealthFitness will help you provide an estimate of key components, including: 

• Demographic analysis. This includes an understanding of the eligible population, along with a projection of membership and participation spanning a three- to five-year period.

• Facility size analysis. Whether working within a predetermined space or determining an appropriate total, our analysis will pinpoint the component areas needed for your facility, along with the recommended square footage for each.

• Exercise equipment. We’ll include recommendations on the quantity and types of cardio and strength equipment that are functional, cost-effective, match the demographics of your tenants and their employees, and align with the overall goals and objectives of the health and fitness program.

• Program operations. We’ll provide a three- to five-year operational scope and pro forma, which includes projected revenue against core and variable operational expenses, to ensure the design complements functionality.

Connect with us for a no obligation meeting.
At HealthFitness we’ll partner with you to create a detailed implementation plan that outlines the steps needed to establish and expand the fitness center and wellness program. Our business acumen and proven success in creating workplace destinations are why our clients chose us to manage their multi-tenant fitness centers.

With our experience and expertise, we’ll help you:

• Grow your membership, with relevant and adaptable offerings to support growth.

• Implement operational efficiencies to help achieve financial sustainability.

• Create a workplace destination whether you need a new space or a redesign of an existing space, we’ll maximize the experience, utilization, and flow. We’ll rejuvenate the programming with both short- and long-term strategies to create a workplace destination for members to move, destress, recover, and connect in ways that work best for them, with a benefit they will value and appreciate.