Industry Analysis & Industry Trends
The Gym and Fitness Centre industry has run into trouble during the past five years. During the decade prior, the industry went from strength to strength, as rising concern for health and supportive economic conditions underpinned strong growth in revenue and industry establishments. Since 2008-09, however, consumers have focused on economic concerns, with many choosing to cancel their gym membership and exercise independently at no cost. Other gym goers have traded down to a new breed of budget gyms, which do not require long-term contracts and charge less by only offering basic services. As a result, established players like Fitness First and LA Fitness have suffered from falling membership and been forced to sell or close gyms... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the mature phase of its life cycle with industry value added estimated to increase at a compound annual rate of 0.4% over the 10 years through 2018-19. This compares with average GDP growth over the same period of 1.3%. After a long period of growth, the industry contracted during the last five years as the economic downturn led people to cancel memberships and visit their gyms less frequently. The industry has consolidated recently, with some major companies expanding their market share by buying up smaller chains and independent gyms.
There is now a wide range of gyms and health clubs offering a great diversity of services and membership options that cater to individual needs... purchase to read more