Franchise Spotlight: Sports and Fitness
With an increased focus on the importance of health and wellbeing, the Sports and Fitness franchise sector looks set to grow.
Statistics show that the Fitness industry, including gyms, fitness clubs, studios and coaching, had an impressive total membership of over 64 million in 2019. During the Covid-19 pandemic, although many businesses were forced to shut their doors, the industry saw an increase in numbers of people looking to prioritise fitness - especially with a focus on wellbeing.
In 2020 the market size of the Sports and Fitness sector was estimated at over $32 billion and forecast to increase in 2021 - making this a highly competitive and fast changing market. With reports of the increase in rates of obesity and diabetes in the US, now is a great time to take the dive into a sports and fitness franchise and capitalize on the increased awareness people have about improving their health.
Franchises such as CycleBar, Row House and YogaSix offer franchisees the opportunity to manage a studio or gym space offering a boutique fitness business.
Sports and Fitness Industry Analysis
The sport and fitness sector is a highly competitive and fast growing market which offers a range of interesting opportunities for franchisees. You don’t need to be a fitness guru to enter this market but an interest in health and fitness will certainly help. For many franchise opportunities, the most important skills tend to be in the management and organisational oversight of running a business. Most companies will offer full and comprehensive training so don’t be intimidated if you’re new to this sector.
There is always the option to run an independent studio, which might suit those with a particular vision in mind - but starting out alone does come with its own risks. The security offered with buying into a franchise and the support of a recognized brand name should not be underestimated in this competitive market.
With the health, fitness and wellbeing industry only looking set to grow, this can be a hugely rewarding sector in which to become a franchisee.