Statistics reveal that the global fitness and health club industry generates over 80 billion U.S dollars in revenue per year. People are becoming more health conscious and, as a result, some fitness franchises are expanding every year. However, this is not the only reason for the boom. There are a variety of other factors responsible for growth in fitness franchises.
Growing Popularity of Gym Culture
With more and more people making fitness a lifestyle choice, the gym culture is growing at a very fast pace. As an example, we already have expanded to over 1,200 F45 Training studios in 36 countries and growing. Fitness as a lifestyle choice has revolutionized the demographic of people who go to the gym. Gone are the days when you’d only spot Arnold Schwarzenegger lookalikes in gyms. Modern cardiovascular and resistance equipment, specialized fitness training styles and luxurious surroundings are some of the things that have attracted a new type of client to the studios. It’s evident that public awareness of fitness and wellness has risen because of the shift of focus to a healthier lifestyle and the promotion of the new offerings.
More Personal Disposable Income
Holding a gym membership and spending money on fitness used to be seen as a luxury, but today it has become a part of people’s lifestyle. According to Entrepreneur, “growing urbanization, rising middle class, and increasing disposable incomes are boosting the need for gyms. Further, since the young working-age population with adequate disposable income in hand is leading a sedentary lifestyle, thereby, attracting various diseases, the demand for gyms is only expected to move northwards”.
A Rise in Fitness and Health Awareness
Nowadays, there are more people going to health clubs and gyms in order to curb the side-effects that come with the hectic urban lifestyle. This is a necessity, as exercise is known to increase cardiovascular fitness and improves overall health. In addition, a regular workout assists in reducing stress, depression, anxiety and more. The rise of health issues is pushing people not only towards a healthy diet but also daily exercises, propelling the demand for fitness studios.
A Shift from Budget-Friendly Gyms
While budget gyms have been around for a long time, this new breed of HVLP gyms naturally phased out the more established budget players in the variety of fitness equipment available and classes offered. Boutique studios may generally be on the higher end when it comes to price, ranging from $20 – $50 a class, or $150 – $300 month but that doesn’t appear to be limiting demand. Selling points for these include a central location and the specialization offered.
“We had grand plans, but I don’t think you could ever plan on being the fastest-ever franchise roll-out in Australian history, and now number one fastest-growing fitness franchise in the world, selling 1,300 franchises in four years,” said Rob Deutsch, the founder and CEO of F45 – correctly labeled the ‘world’s fastest growing fitness franchise’.
When asked about what inspires him to succeed, Rob said: “Trying to mimic admirable people around me. I am lucky to have some truly inspirational and successful people in my network of friends. I am like a sponge, learning through them”.
With the current number of health and fitness studios in the U.S expected to potentially double in the next few years it’s a great time to invest in this industry, especially in a gym franchise in the USA considering the expansion rate.W
This could be a life changing opportunity.