The fitness industry is one of the best industries in which to invest, and this will likely remain the case for years to come. This isn’t just because new fitness franchises are popping up all over the globe, but instead because the industry dynamic is being fueled by many important and unexpected factors. According to a Forbes article, franchisee appetites for health & wellness have “opened the floodgates to a plethora of innovation, segmentation and excitement in fitness franchise offerings.” Below are some of the top takeaways:
Fitness concepts are better aligned to shifting trends in the market.
The fitness industry has become majorly segmented, as consumers have individualized reasons for seeking out a new fitness program and specific methods of achieving their fitness goals. For example, Millennial franchisees in particular have a desire for achievement, team activities and all things digital. The ability of fitness franchises to target niche markets gives them a major advantage over big box gyms.
Not only does F45 Training tick all of the Millennial boxes, but its concept is universally appealing across generations. It has formed a fresh marketplace for new fitness concepts, and its accessible price point and specific target market are both major components of its longevity.
The “fitness” label doesn’t tell the full story in this day and age.
Classifying something as “fitness” doesn’t accurately capture wellness, vitality and performance. Franchise development prospects are shifting from “clients and parents with direct experience with the concept to individuals looking to bring a great business in fitness to their local community.”
F45 acknowledges the benefits of a holistic approach to fitness in a few key ways. First, as “Team Training, Life Changing” implies, F45 Training is about teamwork, community, positivity, and motivation—members aren’t just numbers, they are family members. Secondly, the training style, functional training, is meant to make members look, move and perform better in all aspects of life. Functional training makes daily tasks—like picking up boxes and walking down a flight of stairs—easier.
The future of the fitness industry and related trends is promising.
In recent years, individuals have become extremely conscious about and invested in health and wellness. As a result, there has been an overwhelming increase in demand for new health products and fitness concepts.
A huge component of modern fitness is the introduction of new technology, as evidenced by the rise in wearables and personalized health data. Once consumers start paying more attention to digital feedback via heart rate monitors and smartwatches, they start making healthy decisions in other aspects of their life and investing more in their fitness—it becomes a cycle. Thus, as new methods of exercise emerge, so does technology. F45 Training is a leader in fitness technology, as evidenced by its Lionheart heart rate monitors, F45tvs, F45FM, and smartphone apps. F45 sessions are fueled and organized by these robust technology systems, and is constantly developing new and innovative ways to use tech.
This could be a life changing opportunity.