Fitness industry market: The profitable investment in the health and wellness industry
Are you looking to invest in the fitness industry? Nowadays, consumers are engaging with fitness and healthy companies more than ever before, in an attempt to improve their lifestyles. For this reason, investing in fitness industry could be a very profitable business.
Fitness experiences made us feel like better versions of ourselves. A lot of people love going to the gym or even to boutique studios where they can find fitness classes like cycling, running, pilates or yoga.
Some of them are addicted to the fast-paced energy, the motivational instructors and the way exercising with a group pushed them harder. These classes left them feeling energized, refreshed and stronger.
"At the end of the day, the consumer is not just buying the product. They want to make sure that a company's values align with their own values"
- Ryan Junk, president of Cycle Bar
|Fitness Industry Market|
|1. How big is the fitness industry market?|
|2. Is it profitable to invest in a fitness center|
|3. What are the most innovative startups in fitness & health?|
How big is the fitness industry market?
According to Statista, the global fitness and health club industry generates more than 100 billion U.S. dollars in revenue per year.
The United States is the biggest market worldwide not only in terms of revenue but in regards to the number of members in health & fitness clubs as well. His market had an estimated size of more than 32 billion U.S. dollars.
According to the IHRSA (International Health, Racquet & Sportsclub Association), the $30 billion health and fitness industry in the U.S. has been growing by at least 3 - 4% annually for the last ten years and shows no signs of slowing down anytime soon.
If anything, it’s accelerating. Currently about 20% of American adults have a fitness club membership. Globally there are over 180,000 fitness clubs, estimated to have earned $84 billion from their 145 million members.
Today there are more options than ever before to stay fit than just hitting the elliptical. Before there were not enough options, people who couldn’t find that hour to get to the gym probably just wouldn’t exercise.
But now, it is so different. People can exercise watching TV in their living room at lunchtime or late at night. Some gyms are open from 6am to 12am and sometimes they do not close, so everyone can take their time to go to them easily.
Also, in recent years consumer demand has been moving away from processed food in favor of healthier, more natural or organic options. This switch is causing people across the country to be more conscious of the food they eat and this makes more people interested in fitness.
Once consumers start thinking more carefully about their diet, they start thinking about other ways they can enhance their health too. And joining a health club or fitness studio is the easiest way to achieve it.
If you would like to know more about Boutique Gyms? This article is for you: The business that is leading the fitness industry
Is it profitable to invest in a fitness center?
Every aspect of the health and fitness industry is expected to continue growing in the coming years so invest in fitness industry could be very profitable. The importance of exercise is being accepted everywhere, clubs are appearing everywhere.
Have you recently joined a gym or started a new fitness program? If so, you have contributed to the 8.7% growth the world has seen in the health and fitness industry this year.
If you are a entrepreneur, you would love these numbers. An annual growth of 3-5% is expected from the year 2019 to 2021. The market is expanding globally but countries like China, India or Russia are expected to see the largest growth in the coming years.
So, yes, Investing in fitness industry is profitable!
1 in 5 Americans have at least one gym membership and the average membership is worth $517 a year and the number of individuals who hold a gym membership has grown by 37.1% since 2018.
Nowadays, it is so popular to offer a sense of community and self-improvement rather than exercising to attain a certain body type. Boutique fitness studios are experts in that. These studios are usually quite small and specialized.
Fitness Boutiques re-defined the industry. They are adapted to preferences of millennials and younger generations who want more specialized experiences, a sense of community, and flexible participation.
According to the International Health, Racquet and Sportsclub Association, boutique fitness is the fastest growing brick-and-mortar exercise category — between 2013 and 2019 membership at boutique studios grew by a whopping 121%. The IHRSA also found that 40% of health and fitness club members belong to a boutique fitness studio.
Take advantage of this growth and open you own franchise!
What are the most innovative startups in fitness & health?
|Centers||Philippines||LATAM - ASIA - EUROPE||No phisycal|
|App & Saas||NO||YES (Both)||YES (Just App)|
Technology associated with health and fitness is a trend. Millennials record everything from daily heart rate to body fat percentage, sleep, etc. Fitness apps are also a movement and women are twice as likely to use fitness related apps than men.
Here is a list of 3 exciting fitness companies to invest in that are continuously growing and currently making waves across Asia:
1. Row Circuit at Saddle Row
Indoor rowing is fast becoming the workout of choice for fitness enthusiasts, thanks to its low-impact, high-intensity pay-off.
At Saddle Row, you can choose from a variety of rowing classes that best suit your fitness goals: Finesse to master the basics, Crew to row as a team, and Circuit to include HIIT (high-intensity interval training) elements – all of which incorporate intense rowing drills.
With smooth panelled walls and machines accented by well-crafted wood, this minimalistic studio exudes a warm vibe that keeps you coming back for more.
Should you consider a fitness franchise? Fit Jeff is one of the most profitable fitness franchises to invest in Asia. Through their app, they offer the most demanded activities (such as: yoga, pilates and functional training), creating a social environment in a unique space away from the noise and gray color of the city; they call their centers an oasis.
Fit Jeff it is not only about getting fit, this franchise is flexible, sociable, low-cost and motivational, it's the perfect solution!
A better, more motivating way to workout by giving users instant access to guided audio workouts from the best instructors on the planet whenever and wherever – on the road, in their living room, or at a gym. Each class brings the motivational guidance of a top instructor alongside a popular playlist to push, inspire and challenge the users as much as possible. Amazing, isn't it?