Health and fitness industry
With more than third of people in the United States the health and fitness industry is poised for growth. We are talking about over 72 million americans. The obesity epidemic has been at top of the First Lady’s, Michelle Obama’s, agenda and represents an enormous opportunity for entrepreneurs looking to enter this industry. Here are 5 factors to consider regarding becoming an entrepreneur in the health and fitness industry in 2016.
Multiple Revenue Sources
Health clubs, when done right can provide revenue from multiple sources such as: membership enrollments, personal training, monthly membership, health and weight loss products, family membership add-ons, physical products, and additional amenities. Successful health clubs maximize all revenue generating avenues.
The food and drug administration has tightened and its rules and is cracking down on a number of weight loss products that claim to produce weight loss. This has led to skepticism by the American public who is returning to the realization that the only way to lose weight and keep it off, is to work out and eat right. Joining a gym and working out continues to be one of the most effective ways to lose weight.
The majority of Americans on a diet are women. For this reason weight loss products and gym memberships are usually primarily focused to women. However, men are an often times ignored market and could represent significant opportunity for growth. Combining marketing efforts for both men and women could mean the difference between a profitable and very profitable gym.
Few industries can experience year over year consistent growth, but the health club industry has been able to accomplish this incredible feat. Health clubs play a vital role for Americans improving their overall health and well being. The International Health, Racquet & Sportsclub Association (IHRSA) revealed astonishing statistics last year showing consistent growth in both health clubs and industry revenue.