Health and Fitness Industry Report and Statistics
We have compiled research data to help entrepreneurs understand the current and projected state of the health and fitness industry. This is what we found.
Market share: There is no particular dominant presence by any one company. Various companies share a piece of the pie in different markets.
Revenue: Health and Fitness industry revenue is $27 billion.
Businesses: There are over 83,689 health clubs in the country.
Annual Growth: Consistent year over year growth at about .1%
Recent marketing campaigns fighting obesity has helped the industry greatly. As the very popular market segment, Baby Boomers, gets older, they are expected to begin actively joining health clubs as they become more concerned about their age. This along with the rise of all inclusive health clubs, and low-cost membership, should result in a continued increase in growth.
Starting a Health Club
Barriers to entry into the health club industry are relatively low, which is a good thing for entrepreneurs. Franchising options have become very popular so those looking to enter this industry with little or no experience, have this opportunity. Wages in this industry are relatively low as most staff does not need prior experience in training is simple. In addition, working in a health club is highly preferred to other retail or restaurant environments. Equipment costs are relatively low and have long life spans.
All in all, the future looks bright for the health, gym, and fitness club industry. Information for this blog was gathered from a variety of reputable sources including Ibis World and the IHRSA.