WhyNot?

Gym + Bail Bond = Fitness

Category: Fitness
Responses: 4 (4 in support, 0 neutral, 0 in opposition)
Number of views: 270
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If this is already being done somewhere, I wouldn't be surprised, but it's something I've never heard of...

What's the best incentive to get in shape/lose weight/exercise more?

Aside from the threat of mortifying embarrassment (as Barry's special on ABC showed us) the incentive of money could be pretty significant. Specifically, one's own money.

If health clubs want to give people a better incentive structure to come and actually exercise, there's a better way than just taking membership fees and giving access for x months. (Granted, they might want the extra free money from all those people who sign up in January and never come!)

How about a very large membership fee upfront with a small refund each time you come and work out? The refunds could stop after a certain number of visits in order to leave a base fee for the gym (they do need to keep some of it, after all).

It's like a bail bond in small installments - a great commitment strategy to use on yourself. You're using your commitment at the beginning of the New Year to keep yourself coming back to the gym the rest of the year.

If they're skittish about using money refunds, gyms may not even have to return the fee in dollars - perhaps they can give back a portion of the membership fee in gift cards, or extra membership benefits, or other rewards.

KarenElizabeth, Jan 23 2007

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This is a brilliant idea! Will surely give me some incentive to keep going to the gym.

herbq79, Jan 23 2007

I love the idea too. Barry and I wrote about something similar in a recent issue of Forbes. See Weight Loss Bonds http://www.netscape.com/viewstory/2006/11/07/weight-loss-bonds/?url=http%3A%2F%2Fmrwavetheory.blogspot.com%2F2006%2F11%2Fweight-loss-bonds.html&frame=true

Dean Karlan and Barry and I are working hard to bring this idea to fruition to help people lose weight and quit smoking.

Ian Ayres, Jan 24 2007

I belonged to a gym that required a 4 to 1 client ratio and you had to reserve your time slots (best time slots gradually went to most frequent users. If you didn't show up, you were charged $60 for the hour that you missed. It did operate on a monthly "retainer" and each session billed at $45. It worked really well!! I rarely missed a workout.

lee@sonic.net, Dec 02 2008