Over the past decade there’s been a massive shift in the fitness industry and it’s not often that we take a step back and look at how much its ACTUALLY evolved!
Now that we are at the backend of the pandemic (fingers crossed!), it’s interesting to look at what business models have withstood the past 2 years, and which ones have come out even stronger. All the changes we’ve seen (and are currently seeing) have all been shaped by consumer needs, technology, adaptability, flexibility and getting the best experience.
In the 80’s it was all about the ‘big box’ gyms which focused heavily on lifting weights, classically associated with body building and ‘shifting tin’. Although keeping active wasn’t fully mainstream yet, it was definitely on the rise. By the late 90’s and early 2000’s, fitness, gyms and a focus on living a healthier lifestyle was starting to become more prominent.
Throughout the 2000’s there was one goal, and that was to have a business model which consisted of having a gym chain in a high traffic location, filled with masses of equipment. The aim of the game was to have a steady flow of members coming into the facility to ensure that costs were being covered and profits were made.
Fast forward to 2022, things have changed dramatically. Millennials have impacted the industry and have disrupted the gym and studio ‘norm’. They take a huge chunk of the consumer market, and their behaviours are more focused on community, flexibility and wanting a unique experience.
“This generation has created a personalised on-demand economy,” said Doug Hecht, MINDBODY SVP of Consumer Products. “They seek value rather than price and are spending more on experiences rather than things.”- Mindbody
It’s hard to pinpoint exactly when boutique fitness started, but it’s here to stay. Coming into a studio that offers smaller, more intimate classes teamed with a unique experience is something people want to be a part of. The community is based around the appreciation of the brand story built by its members, who are there to train but also to be part of something bigger. Consumers are willing to pay more for something they believe in and something they can be part of.
“Playing into this theme, young customers allocate a growing share of their monthly budget to fitness. An example of this trend, profiled in a Wall Street Journal article, Alison Dougherty of New York spends $500 a month on fitness”- Finance Processes. People are willing to pay more for a product and service they trust. Especially when it comes to fitness! Consumers are continuously finding the value in boutique fitness, and that it’s so much more than just a workout experience.
F45 Training is a completely unique concept that is continuously making its mark in the boutique fitness industry. The brands adaptable and flexible business model has differentiated itself from others in the industry, and we look forward to sharing what big things we have in store in 2022!
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It’s hard to pinpoint exactly when boutique fitness started, but it’s definitely here to stay. Coming into a studio that offers smaller, more intimate classes teamed with a unique experience is something people want to be a part of.Back
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