Industry Analysis & Industry Trends
The Gyms and Fitness Centres industry ran into trouble in relatively recent times. Challenging economic conditions caused some gym goers to cancel their gym membership or opt to 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 because they only offer basic services. As a result, a number of established players suffered from falling membership numbers and have been forced to sell or close gyms. Meanwhile, newer budget operators have done well, attracting the investment to finance further expansion in the next five years. IBISWorld expects industry revenue to increase at a compound annual rate of 1.3% over the five years through 2015-16... 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 1.6% over the 10 years through 2020-21. This compares with average GDP growth of 2.1% over the same period. After a long period of growth, the industry faltered as difficult economic conditions led people to cancel memberships and visit 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