Ever since the end of the recession, the fitness center sector was one of the first in the industry to start expanding dynamically and has continued to be one of the few that has maintained that growth at the rate it’s experiencing! Take a look at the contributing factors that have many fitness companies expanding across the nation.
The fitness center sector has grown to be a more than $30-billion-a-year industry as twenty-five of the largest health club companies in the United States have reported a revenue increase of 10% or higher. Brands such as LA Fitness, Planet Fitness, 24 Hour Fitness, and Equinox Holdings have been able to expand successfully due to the consumer demand!
Overall, it is a perfect time to play a part in the fitness center sector as many consumers have become health-conscious and fitness concepts are more internet-resistant than traditional retailers.
Ever since 2008, fitness center leasing in malls has tripled on a square footage basis and has since grown by 70% in malls and lifestyle centers! Fitness companies have begun targeting malls for growth as a way to reimagine the mall spaces traditionally occupied by large anchor stores.
Boutique-type fitness centers have also been able to make a major impact in urban areas such as Los Angeles or New York. Orange Theory Fitness, for example, has expanded to nearly 1,000 studios worldwide and has more than 500 studios in the development pipeline.
In conclusion, as more fitness centers are becoming available to the communities, it helps encourage people to live a healthier lifestyle!