Health & fitness industry to see 300% growth!

Via Health Club Management...

Byran O'Rourke believes the health and fitness industry is set for explosive growth over the next decade and could grow up to 300%. 

Here are David Minton's thoughts on the industry's potential...

It's currently the most exciting time to be in the fitness industry in terms of innovation, growth and potential. Three hundred per cent growth is definitely possible: the industry needs to think BIG. Globally we should be aiming for half a billion members. 

Penetration rates are very low in the global fitness industry at present - still in the low single figures in lots of countries - so the potential is enormous, especially in Asia and the developing world. However, there's still huge potential for the market in the UK too, which has grown by two million members since 2007 to achieve 14.3 per cent population penetration. 

Two factors will drive growth: education and experience. Operators need to focus on improving both. Following the lead of the hotel industry, they need to keep investing in the product and innovating. 

They also need to get better at using data to connect with current and potential members. Although we're definitely seeing improvements, historically the industry has been poor at finding out how often members come, what they do and what they spend. 

Change will happen across all ages and demographics. However, certainly in the UK I don't see a huge growth coming from the healthcare sector at the moment because, to engage with the NHS, the industry will need to become far more professional, start talking the same language and take part in clinical trials.