Corporate Gym Memberships - 29/09/04

Joining a gym is like getting married, but without the cake and presents. There is usually a written contract, they debit your account and if you decide to terminate your membership you could be penalised. Beware when negotiating your corporate gym membership of the following:

The “Special” Price: Find out if you’re getting the lowest membership rate for you and your employees by polling current members. Then get the real deal. Sales reps can knock down prices and if they’re aiming to make a monthly membership quote, they’ll void sign-up fees. If the gym offer a better deal the following week demand that the club rep give you the lower price – of you’ll cancel your membership.

The Hidden Increase: Don’t be subject to rate hikes just because they’ve refurbished the gym store! Make sure you get the sales rep to strike out any lifetime rate clauses and both you and your rep sign the clause separately. When the rate increase inevitably comes you can legally refuse to pay it.

Get ripped at the gym… Not ripped off!

Written By Simon Johnson
Xbridge Decision Finance

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