Fitness Centers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 1/9/2023
SIC Codes: 7991, 7997
NAICS Codes: 71394
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Fitness Centers Industry Profile

Companies in this industry operate fitness and recreational sports facilities that offer fitness equipment, exercise classes, swimming pools, and fitness instruction services. Major companies include Equinox Group, Gold's Gym, LA Fitness, Life Time Fitness, Planet Fitness, and 24 Hour Fitness (all based in the US), along with Fitness First and Virgin Active (both based in the UK), Konami Sports Club (Japan), and McFit (Germany).

Worldwide, fitness centers are valued at about $90 billion, according to Zippia. There are more than 200,000 health and fitness clubs worldwide. The US, Germany, and the UK have the highest number of fitness club memberships.

The US industry includes about 37,000 fitness and recreation center establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $35 billion.

COMPETITIVE LANDSCAPE

Demand is partly linked to income levels and partly to market demographics. The profitability of individual companies depends on good marketing. Large companies have economies of scale in advertising and in buying equipment. Small companies can compete effectively if they have favorable locations or meet customer demands for personalized service and friendly atmosphere. The industry is fragmented in the US: the 50 largest companies account for about a third of revenue.

Commercial gyms and fitness centers face competition from traditional nonprofit facilities, like YMCAs and community centers, as well as in-house fitness centers run by hospitals, hotels, and corporations. Home gyms are ...

 
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