Fitness is at the forefront of many people’s minds in 2021, especially after a year of being in lockdown. In the next few years, the fitness industry is set to boom, so selecting the right kind of fitness franchise is extremely important. There are various types of fitness franchises available to choose from, depending on exactly what you’re looking for, your specific interests in a fitness franchise and what you hope to gain within your business.
So, with a multitude of choices, what exactly is on offer right now?
Fitness clubs and gyms
One of the most established, traditional ways to keep fit is at the gym. 2020 saw a decline in club memberships due to repeated covid-19 shutdowns, but projections show that the market is incredibly resilient and will undoubtedly bounce back in the coming years. Globally, there is set to be a compound annual growth rate of 7.8%> between 2020 and 2025, meaning an exceptional increase in revenue for the owners of fitness franchises.
Within the bracket of fitness clubs and gyms, there are more specific variations, such as women-only gyms, specifically aimed at a female membership. There are also “budget” gyms, which offer all the basics necessary for an effective workout without some of the more expensive clubs’ frills. Franchises on offer also include those focusing on personal training or others that concentrate on group fitness classes like aerobics or spinning.
In the fitness industry, offering customers what they want and keeping them motivated to return is key in membership retention, so geographical location and potential membership base around your local area are important factors to consider when selecting among gym franchises.
Children’s activity centres
Health, well-being and fitness are not just for adults. In the current climate, there is an increasingly growing demand for children’s fitness centers such as after-school sports clubs and mother-baby classes. These clubs offer classes and activities to preschoolers and young children, aimed at getting these youngsters started on a healthy fitness regime early in life, whilst simultaneously ensuring they are having lots of fun. It’s true of both adults and children that the more they enjoy their club experiences, the more likely they are to return.
Under 18s represent the fastest-growing market share in the fitness industry, alongside older adults, so investing in a child-centric activity center could prove to be a worthwhile long-term move.
Weight loss clubs
With 22% of people have gained weight during covid-19 lockdowns, the demand for weight loss tools is likely to increase in the coming months and years. For those looking to lose weight, studies have shown that weight loss clubs are more successful than going it alone, meaning that this type of franchise offers a plethora of benefits when it comes to attracting membership.
By 2024, the weight loss industry is set to have a global value of US$ 269.2 Billion, with a compound annual growth rate of around 6%. This signals tremendous revenue opportunities for franchisees looking to gain a foothold in weight-loss franchises.
Mostly aimed at young children, this type of franchise offers a worthwhile goal of helping babies and children learn the vital life skill of mastering the art of swimming whilst also generating a great profit margin as a business owner. As drowning is the third most common cause of death globally facilitating a business that can help children to learn to be safe in the water is a worthwhile business opportunity, and there is a huge, untapped market of potential members for this type of fitness franchise.
As with children’s activity centres, children’s swim schools are set to grow in popularity in the near future, with children accounting for one of the largest growing market shares in the fitness industry. However, swim schools offer the extra bonus of helping to teach little ones how to be safe in the water and the potential to offer classes to adults who cannot swim.
According to statistics, without help from alternative means like vaping, just 4% of smokers will be successful in their wish to quit smoking. E-cigarettes and vapes are a growing alternative to cigarettes for those who want to quit and live a healthier, fitter lifestyle, meaning that this sector of the industry is on the up.
One of the fastest-growing sectors of the fitness industry, in 2019, the vape and e-cigarette market was worth USD 12.41 billion globally. Projections envisage expansion at a compound annual growth rate of 23.8% between 2020 and 2027. A growing move toward health and fitness and increased global awareness of the dangers of cigarette smoking are fuelling a move toward vaping as a safer and health-friendly alternative.
Unlike some other areas of the fitness industry, this type of franchise offers franchisees the chance to establish their business through various channels, such as high street shops and online portals, allowing for a wider potential market and higher ultimate profits.