Fastest-Growing Fitness Franchises & US Fitness Industry Trends
As consumers look to boost their longevity by increasingly investing in health and wellness products and services, fitness franchises are rising to meet the demand. By consistently diversifying service offerings, fitness franchises are accommodating a wider range of members, bringing people back to the gym with strong group programs. Snap Fitness is among the fastest-growing fitness franchises to invest in to harness the potential.
Fitness Industry Trends & Statistics
The fitness industry is growing at a rate of approximately 8.7% per year, with a projected market value of $96.6 billion by 2024.
The gym, fitness, and health club industry in the US has reached a revenue of $30.8B in 2023.
With total revenue for the global fitness market having reached $4.28B in 2022, the industry is expected to increase at a compound annual growth rate of 10.46% to reach $6.73B by 2027.
In 2023, it’s estimated that the US market will reach a total of $31.2B in revenue at a compound annual growth rate of 6.5%.
Franchised gym locations comprise a significant portion of the industry, with 10,400 clubs employing over 155,000 individuals.
Snap Fitness franchisees opened over 30 new gyms worldwide in 2023.
With industry growth expected to continue through the end of the year, the fitness franchise concepts are positioned to take advantage of the opportunity to meet this ever-increasing demand. Franchises can appeal to members by offering convenience with around-the-clock services and up-to-date fitness technology for time-strapped consumers to make the most of the market demand and generate a large membership base.
Snap Fitness as a Fast Growing Fitness Franchise Model
Our fitness franchise model was designed to help you break into this booming industry with a leading franchisor in a growing fitness industry. Snap Fitness locations feature franchisee-driven benefits to appeal to a broader membership base, including an inclusive gym experience with state-of-the-art equipment, 24/7 worldwide access, personal training, group fitness classes, and results-driven technology.
The fitness franchise industry contains several divisions, including the biggest: fitness centers, health clubs, and weight loss centers. Snap Fitness is a leader in the industry, with some of the largest market share in the gym and fitness industry.
The future looks bright for gym and fitness franchises, as business closures have created gaps in the market. If franchisees can spot these gaps and serve these communities, they can tap into clear demand.
Ready to turn fitness trends into your future? Explore Snap Fitness franchise opportunities today!
Fitness Industry Trends Shaping The Business
Gym memberships have been steadily increasing, with over approximately 64M members in 2019 alone. And 2021 saw 41,000 clubs in the US, with the industry seeing a compound annual growth rate of 8.4%. Driving the fitness industry’s revenue growth are the number of gym memberships, a growing desire to improve fitness, increased disposable income, expanded class offerings, and catering to different demographics.
Per capita disposable income in the US increased to $50,113 in 2023, boosting purchases like gym and fitness memberships. Gyms have capitalized on creating engaging and convenient online content at a lower price point to reach larger audiences and keep more members engaged despite economic downturns.
Fitness industry trends shaping the US fitness industry include the emergence of technology-driven fitness solutions, increasing focus on holistic wellness, and the diversification of fitness offerings.
Technology-driven fitness solutions are leading fitness industry trends
Virtual workouts and online platforms were created out of necessity due to the pandemic and subsequent lockdowns. Fitness franchises that offered flexible technology platforms allowed and encouraged member engagement during shutdowns.
Even though online exercise classes are popular, there is still a strong demand for physical gyms and fitness centers. Consumers prefer access to the equipment, diverse class offerings, and the support and social opportunities that come with gym memberships. Fitness franchises can appeal to consumers through a hybrid membership model, allowing members to enjoy the best of both worlds.
Fitness wearables like fitness trackers and smartwatches enable consumers to go beyond tracking their performance. Integrating wearable technology and fitness apps into your gym’s operations is a unique selling proposition for potential members and a way to help your gym stay competitive.
Increasing focus on holistic wellness within the fitness industry
Consumers are increasingly gravitating toward improving their health and wellness. Some 86% of consumers worldwide reported being more motivated about their physical health and well-being today than in the past. In the US, 87% of Americans maintained or increased wellness spending in 2022.
By focusing on holistic wellness and incorporating mental health and mindfulness into fitness offerings, gyms can appeal to the satisfaction that working out provides and foster a community.
Diversification of fitness offerings
Population demographic changes are fueling the expansion of gyms and fitness clubs. By catering to different demographics, franchise owners can expand their member base. Women typically prefer group exercise classes, while men usually prefer solo equipment work. When reviewing our demographic research, we’ll show you key areas to focus on to address the preferences and needs of members in your local community.
Niche fitness franchise opportunities offering specialized training programs are seeing a jump in demand as consumers increasingly seek out unique fitness experiences.
Why Invest in a Fast Growing Fitness Franchise Opportunity
There are many reasons for entrepreneurs and investors to venture into the fastest growing fitness franchise industry. For starters, the industry is continuing to grow as franchises help meet the demand. Franchising grants you the opportunity to be your own boss and run your own business in a field you’re passionate about with a recognizable name.
At Snap Fitness, our fitness franchise opportunity offers prospective owners numerous advantages as they start their businesses. As part of our turnkey investment, you’ll gain access to our proven business model, which provides owners with a range of fitness techniques, advertising, and operational strategies to help you make your business a success.
Investing with us means you’ll have our support at every stage, including research and development. We’ll ensure you’re ahead of the competition by keeping you updated on the latest advancements in science, technology, and data collection so you can lead your territory with more ways to deliver fitness services to your members.
How Snap Fitness Keeps Up With Fitness Industry Trends
Our focus on holistic wellness helps franchise owners tailor their programs to specific demographic groups. Plus, with many of our locations offering child care, your members can bring the whole family to the gym.
We offer exciting and engaging classes that’ll keep your members coming back for more. Based on your location, we’ll help you determine the best exercise programs to offer in your area to bolster your membership base.
We also offer all the classic workouts members could ever want, with the well-maintained machines they need to maximize their efforts. With our national contract pricing for equipment and leasing programs, you’ll bolster your bottom line with cost savings.
If you’re ready to be your own boss, enjoy a career you’re passionate about, and assist members with achieving their health goals, let Snap Fitness help you get started. Download our guide on how to get started in owning your own gym franchise.
Key Takeaways:
The fitness industry is booming, with a projected global market value of $96.6 billion by 2024. This steady growth, driven by a focus on health and wellness, offers franchisees a promising opportunity to meet increased consumer demand.
Snap Fitness provides a turnkey business model, which includes comprehensive support in advertising, operations, and technology.
Snap Fitness franchises offer a wide range of services, including 24/7 access, group fitness classes, personal training, and state-of-the-art equipment.
With national contract pricing for equipment and leasing options, Snap Fitness helps franchisees reduce initial costs, making it an attractive choice for entrepreneurs looking to enter the fitness industry with cost-efficiency.
Get in touch today to discover how Snap Fitness can help you launch a successful fitness franchise in a thriving industry!