Hiring Fitness Gym Collections Agency
Use Collection Agency to Collect on Past Due Accounts
Fitness Gym Collection Agency: Hire Debt Collection Agency
You have worked hard to gain a large following which has resulted in gaining tons of members but now you clients falling past due. Hiring a collection agency that can successfully collect on delinquent accounts can help retain customers and improve the bottom line of your business.
When Should Our Gym Hire A Collection Agency?
Once you realize that you have an account falling past due and they aren’t responding to your own efforts to collect on the amount owe, you should immediately hire a collection agency that can assist you in recovering the amount owed to your club.
The earlier you place the past due accounts with a fitness collection agency the greater chance they will be able to collect the amount due. Even if your accounts are over a year old, a professional collection agency can collect on the older past due accounts and implement a strategy for your fitness center going forward to prevent accounts from going that far delinquent.
How Do I know I am Hiring the Right Collection Agency?
Just as gyms are not one size fits all, the same applies for collection agencies. When seeking a collection agency, you will quickly realize that all agencies have strengths and weaknesses. For example, some agencies will only collect on B2B (Business to Business) debts while the next agency may focus on medical debts.
It is important to find a collection agency who has a proven track record in collecting on past due gym membership dues. You can do this easily by asking for references from gyms the collection agency is currently collecting for. A few quick calls will allow you to speak to other gym owners who have utilized the agency and you will get an honest opinion from someone in the fitness industry.
Furthermore, the debt collection industry is highly regulated so finding a collection agency that is licensed and bonded to operate within the state your business resides is essential to avoiding possible litigation issues that might arise. This may sound complicated but no worries, our extensive network of collection agencies have you covered.
What Type of Results Should Our Gym Expect?
Collecting on past due gym memberships can be a challenging but not impossible task. An experience fitness center collection agency understands that the typical gym member has disposable income and is concerned about the credit score they carry. Many times, reporting the card to credit bureaus will get the attention of the debtor and motivate them to pay the past due balance in full.
Occasionally clients will stop frequenting the gym and change bank accounts or close a credit card that was being used for the gym membership. It is “out of sight and out of mind” for the customer as they aren’t using the gym anymore. Furthermore, a former client may have relocated out of state and stopped payment on the gym because they knew they would not be getting any use from the membership, breaking the contract with hopes of no consequences.
Hiring a collection agency who is experience in skip tracing which can locate the customers new phone number or physical address and follow up with the client consistently until payment arrangements are made is key to success. The experience in collecting on past due customer’s day in and day out combined with greater resources at the disposal of the collection agency will result in higher successful collection rates than any in house efforts will produce.
Can the Member In Collections Be Retained?
As most gym owners know, customer’s fitness motivation may waiver from the start of the year to the middle of the year. The gym member was active pursing New Year’s goals then they by April they have left off on vacations and got out of the routine only to go completely missing by July. Life happens, all gym owners realize this but understand that the gym member may have had a positive experience at the gym but just lost motivation.
In these instances, collecting on the past due membership dues owed in a manner that is professional and respectful is key. You want the past due member to pay on the amount owed but also feel welcomed to return when they desire to. Hiring an experienced debt collection agency who delivers results with respectful customer service will allow for the member to feel welcome back to the gym.
Improve Gym Cash Flow and Efficiency
As a gym owner, you want to see your client’s health improve and meet fitness goals as they utilize your services. Your job is to provide a fitness center that allows your members to thrive and succeed and with your guidance those goals can be obtained.
You did not create your fitness center to chase down past due customers and try to collect payment from them. By hiring a fitness collections expert, you are delegating a task that is time consuming and draining of your energy that can be put to better use growing your business and playing to your strengths as a fitness expert.
By outsourcing your debt collection needs to a proven collection agency, your receivables will dramatically reduce and in return increase your profits in the long term.
Get a free quote from a fitness collections agency today!
