Area of Health Industry Named in Top 5 for Starting a Business—What it Means to Independent Fitness Centers and Anyone Who Wants to Open a Gym
Discount Retail Stores Services reports on entrepreneurial trends associated with health and the booming fitness industry.
Healthy Living is Paying Off
According to Inc.com, publishers of Inc. Magazine, a long-standing entrepreneurial and business print magazine, Health Care is among the top five areas (16 total areas are listed for more please visit Inc.com) to start a new business. Also in the top five are Environmental Consulting, Translation and Interpretation, Mobile App Design, and Ferryboats and Inland Water Transportation (in areas close to bodies of water where traffic is often congested). The article mentions the rising cost of health care and the explosion in the growth of the elderly population as causes; 10,000 people will be turning 65 every day through 2030 according to a Pew Research Center study. Added to that should be the obesity epidemic, with over 50% of the U.S. population currently overweight and over 50% of the U.S. population on track to being obese by the year 2030 according to the recent finding by the American Journal of Preventative Medicine.
Growing More than Muscles
These factors may be what has lead to the growth of the fitness industry in recent years, and why many are predicting even greater growth in the future. Studies conducted by Aon Hewitt and Highmark Inc. noted that many businesses and insurance companies have come to the conclusion that they can save money by switching to preventative care. This model often includes gym memberships. Fitness Center Developers, a leader in developing independently owned and operated fitness centers, believes that this emergence of a more health-conscious society will drive the need for more independent fitness centers, ones which can attract a wider demographic of gym members. They also note that retention efforts may be more productive for private gyms which can react quicker to trends and which can customize their approach to more closely fit a particular area or demographic.
Independents Do It Better
It has not all been good news for existing gyms, particularly large chains. While the interest in gym membership has increased actual membership for some of the larger chains has flatlined, or in some cases decreased. This is blamed on the rate of new memberships which cannot keep up with the low retention these gyms often experience. Industry statistics show that it can cost six to eight times as much to sign up a new member compared to keeping a current member.
Discount Retail Store Services is a business development company helping entrepreneurs start a business by covering all of the core tasks including site location, lease negotiation, financing, build-out, business training, new store oversight, and ongoing wholesale support and marketing support. Opening nearly 3000 independently owned stores to-date, they specialize in six business models including dollar stores, clothing stores, teen stores, party stores, mail box stores, and fitness centers. Find out about upcoming news on Facebook.