Thursday, April 16, 2020

Mid-Market Fitness Concepts the Most Likely to Feel the Burn of COVID-19

The once-booming fitness sector is taking a hit from the COVID-19 pandemic as big-box gyms and boutique fitness studios shutter across the United States.

During normal times, fitness is big business. In 2018, U.S. health club industry revenue totaled $32.3 billion and more than 71.5 million U.S. consumers used health clubs, which hit an all-time high, reported the International Health, Racquet & Sportsclub Association.

The number of fitness centers in the U.S. increased by 24 percent since 2010 to 111,055 locations, according to IBISWorld data, as reported in January by real estate services firm JLL. The figure was expected to jump further, to nearly 121,000 locations by 2024.. . . more