Industry Analysis & Industry Trends
The Gyms and Fitness Centres industry has grown strongly over the past five years while undergoing considerable structural change. The emergence of budget 24-hour gym chains has stimulated the majority of industry growth. Franchises like Anytime Fitness and Jetts Fitness have undergone exceptional growth over the past five years, attracting customers with their affordability and accessibility. Rising health awareness and high obesity levels have triggered further growth in gym memberships. However, many consumers are substituting their expensive full-service gym memberships for more affordable 24-hour gym memberships, which has slightly restricted growth. Industry revenue is expected to grow at a compound annual rate of 9.5% over the five years through 2016-17, to reach $2.1 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Gyms and Fitness Centres industry is in the mature phase of its life cycle. The industry has grown strongly over the past five years due to the rapid rise of budget 24-hour gyms, which have provided more affordable and accessible options for consumers to attend gyms and fitness centres. Steady growth is expected to continue over the next five years, although 24-hour gyms are expected to reach their capacity with regard to market penetration.
The unique cost structure of 24-hour gyms, with these gyms operating many hours of the day unstaffed, has reduced the wages paid to employees as a share of revenue. The falling share of wages has held back full growth in industry value added (IVA), which measures an industry's contribution to the overall economy... purchase to read more