In 2019, U.S. gym industry revenue increased to $35 billion, up from $32.3 billion in 2018, an 8.4% growth [IHRSA 2020]. The U.S. health club industry serves 71.5 million consumers [IHRSA 2019]. In the UK there are over 7,200 gyms and the market value is just under £5 billion [Leisure Database 2019].
Is the fitness industry growing?
The overall fitness industry is expected to grow at an annual rate of 27 percent and touch the US$32 billion mark by 2022, of which fitness services (like gyms, slimming services, and formats like zumba, aerobics, crossfit, etc.) will contribute around US$6.6 billion.
Are gyms becoming more popular?
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.
Is the fitness industry highly profitable?
The global health club industry has generated $94 billion over the past 12 months, up from $87.2 billion the previous year. With a global growth rate of 8.7%, we’re seeing positive signals that the fitness industry will continue to grow. On this trajectory, the fitness market is set to hit $106 billion in 2020.
What percentage of gym members actually go?
Consistency is Key
About 18% of members actually went to the gym consistently. Out of those who actively used their gym membership, 49.9% got to the gym at least twice a week. Another 24.2% made it to the gym at least once a week.
What are the fitness trends for 2020?
Out of the top 20 trends for 2020 are mobile exercise apps (no. 13 in 2019), mobility/myofascial devices (no. 14 in 2019), small group personal training (no.
- Wearable technology. …
- High-intensity interval training (HIIT). …
- Group training. …
- Training with free weights. …
- Personal training. …
- Exercise is Medicine®.
Can you make money owning a gym?
In the world of gym ownership, there are three surefire ways to boost profit: … Increase membership revenues – If membership at your gym is $1,000 per year, you only need 100 members to turn over $100,000 in annual revenue. But adding just one new member every week puts annual revenues at $152,000.
How big is the fitness industry in the US?
US Fitness Market Size
The US is the world’s largest health and wellness market, with 41,370 clubs, and an annual growth rate of 4.5% (pre-Covid). Industry revenue is growing at a slightly higher rate of 8.4% and is currently estimated at $35 billion.
When did the gym became popular?
In the mid 19th century the world saw the rise of physical culture, a movement that emphasized the importance of physical exercise for men, women, and children alike. Diocletian Lewis, a physician, even advocated for males and females exercising together in the gym.
How do you get big in the fitness industry?
Read on to find out more.
- Selling workout plans. If you want to make money in fitness, selling fitness plans can be one of the most profitable ways to do so. …
- Create a Fitness App. …
- Selling meal plans and eBooks. …
- Selling Fitness Products. …
- Fitness Seminars. …
- Brand Ambassador. …
- Create a Blog. …
- Fitness Writing.
Are gyms a good investment?
Gyms can be great as a passive investment. Essentially as a gym owner your responsibility is making sure your employees are doing their jobs and show up on time, making sure advertisements go out, making sure the place is clean and the equipment is working. That’s pretty much it.
Why is there a great demand for fitness gyms nowadays?
Rise in Personal Disposable Income
Earlier, spending on fitness and taking gym membership was seen as a luxury, but now it has become a part of people’s lifestyle. Growing urbanization, rising middle class, and increasing disposable incomes are boosting the need for gyms.
Is the fitness industry oversaturated?
There are plenty of certified trainers getting around, but very few practicing professionals. So by sheer numbers, the industry may look saturated but it definitely isn’t. It’s ripe with opportunity for trainers who a serious about making an impact as well as an income.
Why do gyms fail?
“Other than being under-capitalized, the biggest reason we see for health club failure is lack of business know-how and lack of proper implementation of sales and marketing strategies,” points out Thomas. “Another common misconception that many new gym owners have is that the gym will sell itself.”
What is the quietest time at the gym?
The quietest times to visit the gym are between 9am -12pm, 2pm till 4pm in the afternoon and anytime after 8pm in the evening. If your gym is 24 hours then the hours between 12am – 6am are by far the quietest times to go as most people will be sleeping then.
Which gender goes to the gym more?
Globally, women are less likely than men to get enough exercise: 57 percent of men ages 18 and over meet recommended aerobic activity levels, versus 49 percent of women, according to data from the Centers for Disease Control.