If you’re trying to get into the fitness industry, now is a great time. Check out these stats and trends that show how it’s growing and why you should invest now.
The Future of the Fitness Industry: A Growing Market
The market size of the fitness industry is growing as more consumers become aware of the positive effects of exercise on their overall health. More Americans are placing greater emphasis on taking charge of their wellbeing by exploring their options in the fitness market.
People are devoting more time to getting healthy as research connects regular exercise with a reduction in obesity, heart disease, diabetes, and other health conditions. Combine this awareness with an increase in disposable income and you have potential gym-goers with money to spend on getting fit. It’s a winning recipe for an increase in the fitness market size and a great time to invest in a fitness business. Let’s dig into the positive statistics and trends shaping this exciting market.
The Statistics and Trends Pumping Up the Fitness Industry
The COVID-19 pandemic transformed the way Americans think about their health with many more people deciding now is the time to get fit. The way fitness is delivered has also shifted, with many more offerings now available than just your run of the mill big box gym. Here are a few facts and figures to be aware of as you consider investing in the fitness industry:
- The fitness market size is $32 billion, according to IBISWorld’s 2022 report on the Gym, Health and Fitness Clubs Industry in the U.S.
- The fitness industry more than quadrupled in size over the two decades prior to the pandemic with growth far outpacing the growth of GDP.
- Since the pandemic, the fitness industry has once again regained its strength, growing in 2021 and 2022.
- IBIS World is projecting 0.6% fitness industry growth in 2023 despite most experts expecting a flat to slightly down economy in 2023, proving again that the fitness industry remains recession resistant.
- According to Nasdaq.com, half the adult population of the U.S. will be obese by 2030. That’s around 115 million people in need of fitness solutions that work.
- Wearable technology and fitness apps are playing a bigger role than ever before with consumers measuring and tracking physical activity, performance and overall wellness.
- Memberships drive revenues. 68.1% of revenue is generated by gym membership sales, according to IBISWorld.
- Boutique studios account for 40% of the fitness market size, according to the Global Health and Fitness Association IHRSA. Consumers are interested in fitness programs that focus on results.
- Post pandemic, more and more consumers are searching for social interaction and realizing the value of community. The boutique fitness model is ideally positioned to capitalize on this trend.
- While big box gyms remain popular, the boutique fitness industry’s growth has been exponential, driven by a consumer value proposition that is tough to beat – personalized fitness at a group price.
The Future of Fitness is Volofit
If you’re ready to become part of the growing boutique fitness industry, look no further than Volofit. With a distinctive fitness concept and potential to grow, Volofit delivers whole body fitness with an emphasis on a premium customer experience, making the most of what matters to consumers today.
The Volofit franchise opportunity is the fitness of tomorrow in a growing industry that focuses on providing clients the scientifically proven benefits of a HIIT workout. Through our never boring workouts, group approach to fitness, and community building, gym goers commit to their health, generating predictable revenue for your business. Beyond membership sales, our franchisees benefit from other sources of recurring revenues like branded clothing, wearable technology, nutrition, supplements, and refreshments, plus promotional events, and member challenges. As a Volofit franchisee, you’ll play a role is helping Americans make the most of their health.
Learn more about bringing a Volofit boutique fitness studio to your community while making a savvy investment in your future. Fill out and submit a franchise submission form today.