FITNESS INDUSTRY STATISTICS
One of the first things potential franchisees usually as is about the fitness industry. If you are thinking of investing in a new business, it is vital that you look at the industry as a whole so you can see trends as well as the overall picture. Here is some information and stats that we know you may find valuable.
FITNESS IS HOT
The idea of getting in shape and being fit is not a new concept. As a matter of fact, every year this mindset has become more and more important to Americans. This puts the industry in a great position as it regards to opportunities. Especially when you consider the large amount of unhealthy and overweight people living in the U.S… Whether it is weight training, aerobics classes, or a nutritionist, people are in need of help. This represents enormous opportunities to those that are looking to get into the fitness industry. We see the opportunity and our franchisees are taking advantage of this.
Those that are looking to get in shape or lose weight have several options but the top 2 are fitness centers, such as gyms, and weight loss centers which are popping up throughout. The gym industry used to be dominated by the big box brands, however, as of late we have been seeing that variety is what people are looking for. Successful niche focused gyms have been very competitive, offering their members a variety of amenities for a fraction of the price. Since many of them have lower overhead, they can afford to do this, while staying profitable.
NICHE GYMS ATTRACT CULT FOLLOWINGS
Unlike the retail industry where the Walmarts and Targets of the world kick the little guys to the curb, the fitness industry is different. Often times smaller gyms are able to better cater to their members. Not to mention that for many an overcrowded gym where you get lost and have to wait what feels like hours for an equipment, is not that attractive any more. The important thing is that the smaller gyms pay close attention to what their members really want. Convenience, cleanliness, amenities, and a friendly staff that knows your name.
FACTS AND FIGURES
In the past 10 years, gym memberships have grown by over 18%, according to the Bureau of Labor Statistics. Since 2013, fitness centers has increased by over 6% and revenue was over $20 billion. In addition, jobs in the next 8 years are expected to grow by over 8%. Globally there are over 180,000 fitness clubs, estimated to have earned over $84 billion from their 145 million members. Numbers do not lie and it is clear that the fitness industry is a good one to invest in.
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