In the last decade, large spaced gyms were all the craze as you had this abundance of space with everything that you needed to break a sweat! Fast forward a few years later, and now you have these specialized fitness boutiques – like indoor cycling, barre, boxing, or yoga. According to the International Health, Racquet, and Sportsclub Association, between 2012 and 2015, memberships at traditional gyms grew by 5 percent, while memberships at boutique studios grew by 70 percent! Take a look at a few numbers regarding this industry growth!
As most Millennials and Generation Z have placed a high importance on health and fitness, it has helped skyrocket the industry! According to Marketwatch, consumers in America have spent $19B on gym memberships last year. This study also revealed that 36 percent of millennials pay for a gym membership which is twice the percentage of older demographics.
Orangetheory Fitness is one of the renowned fitness studios that has gained traction in the last couple of years. They recently reached a 1,000-studio milestone across 49 states and 18 countries – including United States, Canada, the United Kingdom, Australia, Mexico, Dominican Republic, Colombia, Japan, Israel, Peru, and Chile! They have an additional 500 studios in development as well.