The Gyms and Fitness Centres industry has strongly grown over the past five years while undergoing considerable structural change. The emergence of 24/7 gym chains like Stepz Fitness and premium functional fitness gyms has stimulated most of the industry’s growth.
Consumers are keen to splash cash on various fitness options, with IBISWorld pointing out the combined revenue of the fitness industry is over $3 Billion dollars in 2019.
It expects boom businesses will be personal training, gym memberships, weight-loss products and weight-loss counselling services such as wellbeing and nutrition advice.
Keeping Aussies healthy and fit is big business. The fitness industry in Australia generates an average of about 3 billion dollars in revenue on an annual basis. Altogether there are 4,404 gyms and fitness centers across the country, which collectively provide employment for almost 17,000 people.
The Australian fitness industry is expected to continuing growth over the next 5 years as consumers seek more affordable and accessible health and fitness alternatives.
The 2017-18 National Health Survey found that more than two thirds (67 per cent) of Australians aged 18 and over were overweight or obese. If the current trend is not slowed down or reversed, it is estimated this will be come a large worldwide health crises. It is our mission to impact some change in the obesity epidemic.
The popularity of weight loss reality TV shows, efforts by the government to promote healthy living and weight loss, and the household outsourcing trend are some of the factors that have contributed to the increase in demand for fitness services and products.
Fitness centers provide a cost-effective way for Australians to improve their health and fitness, and it has been proven that they can collectively reduce direct healthcare costs by up to $108 million a year. The increasing availability of fitness centers and low-cost fitness alternatives has made it easier for Aussies to keep fit.
Australian Bureau of Statistics (or ABS)
IBISWorld – Report
Australia Fitness Centres Revenue Driven by Demand for Efficient Fitness Based Niche Models and Technological Upgradation: Ken Research
Stepz Fitness competes the following ways: