Fitness Industry Today
The Post-Pandemic Future of Our Gym Franchise
The health and fitness industry, like many others, was greatly impacted by the lockdowns and restrictions in 2020 and 2021. According to RunRepeat, the fitness industry experienced a 32.45% decline in revenue in 2020, yet began to rebound during the second half of 2021. As the pandemic began to recede and mandates and restrictions were lifted, a large portion of previous gym-goers returned to gyms. Today, the fitness industry is poised for explosive post-pandemic growth.
Worth nearly $160B in 2021, our industry is projected to grow upwards of 170% to more than $430B by the year 2028 (Source: Nasdaq). According to IHRSA’s 2021 Global Report, there are many reasons to be optimistic about the future of the health and fitness industry:
- Health and fitness have become top priorities for many people following the pandemic
- Quarantines, lockdowns, and isolation have led to pent-up demand for in-person workouts and community
- A vast majority of gym-goers are predicted to return to their pre-pandemic fitness routines
- Economic forecasts are very favorable for the health and wellness segment
In April 2021, Kaiser Permanente released research correlating physical inactivity with more severe COVID-19 illnesses. It has been found that being inactive greatly increases the chances of ICU admission among COVID-19 patients. Research like this only further highlights the importance of routine physical activity, and as these reports become more frequent, this increases the likelihood of new members joining our gyms in pursuit of a more fit and healthy lifestyle.
The IHRSA report also highlights how online and in-home workouts now complement in-person gym usage. These services surged during the height of the pandemic, and members haven’t abandoned them as they’ve returned to the gym. Instead, many people have embraced a hybrid gym/virtual training approach to fitness.
World Gym capitalizes on this trend with our World Gym Anywhere app. We offer world-class training and group fitness classes at an additional cost. This offers more flexibility for members and an additional revenue stream for franchise owners. If you’re interested in learning more about our gym franchise, explore our website or fill out our contact form and we’ll be in touch soon!