I would sign up to this. I am not sure you would recoup the £1 per entry from your advertisers though... Especially as the footfall will be the same people and not unique visitors.
Good idea though

Interesting idea but do you think that advertiser would pay for the footfall and there would have to a significant conversation. Also think there might be a limitation on the type of advertiser that you might get; most likely to be sport/nutritional/gym related.

Interested to see what comes of it.
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Interesting idea - you would have to do some financial modelling to see if it is viable/ try speaking to some companies that may need advertising
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I like the idea a lot and I believe it's very feasible. It's a very unique unique selling point.

It also has a very smart marketing strategy brewing within it. Think of it from a social point of view. The country is getting fatter and you want to change that so you will make a promise to your members, the more they work out, the less they pay for it. Purely from a sociological point of view this has a vast amount of potential. I'm sure you could find community grants to assist with start-up costs and health & fitness sites and publications would have an absolute field day with it. Essentially it can be marketed as an altruistic/humanitarian concern

You can of course recoup some of your costs with marked up vending machines, free (as well as paid for) classes and instructors.

Drumming up business from advertisers I wouldn't see as a problem, the issue that would concern me though is that you would need really large premises and the additional costs (business rates, electricity, wages and NI etc etc) would rise the more people that attend

This is the kind of business I could get very interested in so if you want a partner, get in touch at dave@internet-marketingconsultant.co.uk

A final word - Franchising!!!!

Dave.

Seems like an interesting idea to say the least. I also like DaveWorrall's idea about recouping some costs with vending machines and classes/trainers.

Best of luck if you decide to go through with this.

Cheers,
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This is a great idea I even think I would take advantage of this promo if it were to be implemented. If you ca you should advertise products like work-out machines and training materials on the machines themselves. But just make sure it wouldn't be distracting enough for the gym members.