Fuel Your Business with the EVOLVE Sports Nutrition Drink Dispenser
On 4th January, we launched our new EVOLVE Sports Nutrition Drink Dispenser – a completely contactless, eco-friendly machine that is set to shake up the sports nutrition drinks market globally.
The global sports nutrition market is predicted to be worth $67.5 billion in 2021, growing to $81.5 billion by 2023. Not only is it a rapidly growing market, it now has a varied and ever-increasing customer base.
According to Nutrition Insight, the sports nutrition market has achieved average annual growth of approximately 23% since 2015. Once almost exclusively appealing to fitness fantastic and bulked-up bodybuilders, Innova Market Insights suggests the market is no longer and ‘specialist segment aimed at dedicated athletes’.
Revenue from Sports Nutrition Drinks Sales
Whereas a hot drink from a vending machine might have a selling price of £1, and a cold bottled drink out of a vending machine might cost £1.50, sports nutrition drink refills from the EVOLVE have an RRP of £2 – £3.
Why? Because powdered sports nutrition supplements are more expensive. A gym-goer will spend up to £30 or more for 1KG of whey protein powder from the supermarket, for example.
What that does mean for you, though, is: 1) A higher per-drink selling price will enable you to drive much more revenue out of a single machine, 2) Fitness fanatics are comfortable with spending – and do spend – a lot of money on sports nutrition drinks.
A higher per-drink selling price, and an abundance of keen customers, can only mean one thing: more revenue.
Numbers in Context
By selling just 10 sports nutrition refills per day at £2 per drink, a single EVOLVE will generate £7,300 in annual drink sales. Step that up to 25 refills per day and you’re looking at a yearly haul of £18,250. Selling 100 drinks per day – not unachievable in a large gym setting or similar – will generate £73,000 annually.
Now, multiply that over a number of sites. Say a gym Group has 20 sites across the UK, with each housing an EVOLVE. Across the Group, an average of 50 drinks per day are sold at £2 per drink. That’s £730,000 in additional revenue per year for the Group. Let that sink in…
With this in mind, let’s take a look at how long it will take for the EVOLVE to pay for itself by way of drinks sales:
Bulking Up
A gym’s financial performance is usually utterly dependent on the number of members it has on its books. Members typically pay a monthly or annual fee to use the gym, its facilities and equipment.
But, now, with the EVOLVE machine, a gym can generate a significant amount of additional revenue without the need to increase its membership base (which can often be costly and time consuming).
A gym with an EVOLVE dispensing 50 drinks per day (at £2 RRP) will generate annual revenues that are equivalent to 101 members paying £360 for an annual membership, for example.
Not bad, aye?
Advertising Revenue
And that’s not to mention the revenue that can be generated by selling advertising space on the EVOLVE’s 12-inch media screen. From fitness clothing to sports nutrition brands, the EVOLVE can play static or video adverts – for hours on end. It offers a complete media advertising opportunity that can forge a new revenue stream for your business.
Charge a monthly or annual fee for advertising ‘space’ and watch the wonga roll in.
Even More Revenue?
As the EVOLVE needs a reusable shaker bottle to get a drink (no single-use cups are provided), there is an opportunity to cross-sell shaker bottles, generating even more revenue. The reusable bottles can be sold at the gym’s reception, for example.
Or they can be housed in a vending machine similar to one in our Snackpoint range, for a completely contact-free and self-service solution. Charge a monthly or annual fee for advertising ‘space’ and watch the wonga roll in.
The Subscription Model
All of us live in a subscription world. The majority of us are ‘subscribers’ of something – and we usually pay for the privilege, too. We subscribe to Netflix for TV, Amazon Prime for online shopping (and even more TV), and HelloFresh for weekly food boxes. We are subscribers of everything.
It’s safe to say, then, that consumers are more than comfortable with subscriptions. It’s just the way things are now. The norm. And, so, it makes sense to introduce this subscription model to gyms, leisure centres and training facilities for drinks dispensed by EVOLVE.
This subscription model – where a customer would pay ‘x’ amount per month for ‘x’ amount of drink dispenses – has proved highly successful and lucrative for customers who purchased the EVOLVE’s sister machine, the H2O Hydration Station, for sports facilities in the UK.
Could the same model work for the EVOLVE, too? We think so!
A Versatile Dispenser
Whilst gyms, leisure centres, hotels and other fitness training facilities might seem like natural homes for the EVOLVE, the reality is that there is a growing demand for sports nutrition drinks ‘on the move’ – anytime, anywhere, and not just in sports or fitness facilities.
Large logistics transport hubs, for example, where drivers need an energy boost. Or, in high-footfall public places were people need nutritional drinks on the move.
2020 was a year we’d all rather forget. 2021 will no doubt be better. But, it could be even better. Fuel your business and EVOLVE your future.