Top 5 Reasons to Invest in the Fitness Industry
If COVID-19 has taught us anything, it’s the immense strength in the fitness industry; despite the hurdles that come our way and the subsequent lifestyle changes, consumers will always crave health, fitness and human connection. These emotionally-driven factors provide the perfect opportunity for industry growth and the creation of a sustainable business. This growth is not restricted to emotion - in fact, the Australian Gyms and Fitness Centre Industry generates a whopping $2.3B in revenue per year with a projected annual growth of 5.8% from 2021-2026. This growth can be predominantly attributed to increased health awareness (IBIS World, 2020).
Ultimately, the sky's the limit for opportunity within the fitness industry as health consciousness is expected to FURTHER rise in 2020-21. This is set to encourage gym attendance and is the foundation of an extremely profitable, enticing industry - one that fostered the success of Fitstop.
Here are the top 5 reasons to consider the Fitness Industry for your next business venture:
1. Fitness is considered an investment, not a throwaway decision
The more recent portrayal of health and fitness as a lifestyle necessity within advertisements, social media and general demographic trends has caused fitness to be considered as a long-term investment, not a simple throwaway decision like buying a coffee. This is particularly relevant with the emergence of group training facilities that differ from typical low-budget gyms as a higher investment relates to more consideration, increased loyalty and the end goal of high retention levels.
2. Highly effective, simple business model
In comparison to industries such as hospitality or retail, the fitness industry presents various business models that are simple to operate and highly effective in terms of earning potential. Whilst all businesses require dedication and hard work, the work-life balance of the fitness industry is unparalleled - and one could argue, the most desirable luxury as a small business owner!
At Fitstop, we further simplify this business model by providing ongoing support with world class systems and processes related to brand, marketing, operations, product and finance, all so you can stay focused working on your business to drive results, not in your business.
3. High growth, high return
There is no slowing down for the fitness industry post COVID-19; At Fitstop alone we are set to DOUBLE OUR FOOTPRINT in 2021. It’s suggested that consumers within the health and fitness space are likely to return to normal industry establishments, where functional fitness, boutique gyms, yoga and pilates studios are anticipated to drive the high growth of 5.8% per year.
At Fitstop, high growth is a feasible reality with our flexible membership capacities and over 30 class times offered a week, whilst the consistent cash flows are known to cover outlaid costs in a comparatively short period; we endeavour to open cash flow positive from day one!
4. Data potential from a user-experience perspective
The fitness industry provides data insights that directly benefit consumers and provide endless possibilities to continually improve business offerings and enhance the bottom line. From a user experience perspective, data can provide insights towards PB’s, membership tenure, performance attributes, the integration of diet decisions, consumer behaviour trends, desirable leads and membership payments, all in which can be acted upon to tailor offerings to increase membership retention; everything can be calculated and not based on hopeful trends - something Fitstop is focused on through location performance, campaign performance and overall customer experience.
5. The fitness industry positively impacts people’s lives
By investing in the fitness industry, business owners are able to have a direct and significant impact on their members' lives that is simply more rewarding than comparative industries; if you haven’t already noticed, this is something we’re HUGELY passionate about! Members are impacted on both an emotional and health level which entices loyalty as they want to continue improving themselves whilst feeling a sense of community and belonging!
This is particularly opportunistic for Fitstop - our incredible communities absolutely set us apart in the industry.
The fitness industry is currently in the growth lifecycle stage, and there has truly never been a better time to invest! Making the decision to become your own boss and analysing the costs and business models within various industries is an extremely rewarding yet important process as it paves the way for your future.
At Fitstop, we pride ourselves in affording the potential for business owners to achieve their business goals, create a stable financial future and achieve flexibility in their lifestyle; Fitstop is a fitness franchise network that is first hand experiencing the potential and achieving successful growth within the fitness industry - we are seeking passionate, owner operators and semi-passive investors alike to experience this with us. So what’s stopping you? To learn more, download our Information Pack at fitstop.com/franchise today.