The fitness sector is seeing rapid global expansion and is remarkably resilient to economic downturns. Since 1996, this industry has grown by 3.5 times more than the national GDP and has continued to expand even through economic downturns.
The gym, health, and fitness clubs business has developed as a result of recent marketing campaigns designed to fight rising obesity rates among people and consumer trends toward better health. The number of health club memberships in the United States increased to 54.1 million in 2014 from 51.4 million in 2011, according to data from the International Health, Racquet and Sports Club Association (IHRSA). Since 2012, the fitness sector has seen an increase of one million new club memberships annually. With 5 billion visits to health clubs, gyms, and studios each year, the average member retention percentage is 72.4%. This comes to about 90 visits per person.
IBIS World reports that this industry is segmented into a number of groups based on the products and services it offers. As of 2016, the majority of business is generated by gym and health club membership fees (60.4%), followed by personal training services (8.2%), guest entry sales (2.9%), athletic instruction (2.7%), meals & beverages (2.2%), merchandise sales (2.0%), and others (19.9%%), in that order.
Although there is a decline of 1.4M memberships during 2007- 2009 (3% in total) but it was able to recover in 2010 and was no decline in industry revenue during the recession.
Interested in partnering with TRVFIT for your own franchise location? Learn more by clicking HERE