Mike Alpert, the COO at Smart Health Clubs, shares why the digital delivery of wellness and fitness solutions is here to stay.
As more and more people get vaccinated against COVID-19, it seems we are finally getting back to somewhat of a normal life. Members are anxious to return to their club, resume their workouts and have social time in the club setting. Club owners and operators are focused on getting their former members back, new member acquisitions and generating more revenue and positive cash flow.
All of the above is crucial to a successful club operation and virtual fitness, which includes live streaming, on-demand, two-way video conferencing and rebroadcasting can help get you there. Consumers — including your members — are seeking wellness like never before, and the digital delivery of wellness and fitness solutions is here to stay. Let’s take a look at some statistics that support this:
- The global fitness app market was $4.4 billion in 2020 and is expected to grow 21.6% from 2021 to 2028.
- There were 87 million fitness app subscribers in the U.S. in 2020.
- The online fitness market is expected to grow from $6 billion in 2019 to $59 billion by 2027.
- Digital at-home fitness spend since COVID-19 has surged 30 to 40%.
- Peloton has 1.7 million subscribers.
- And Beachbody, which just went public, has 2.6 million subscribers.
Your members can’t wait to get back to the club, but consider that there will be days that they might just want to roll out of bed and do a 30 minute workout in their family room. They will certainly view this as an added value and you can also monetize it. When Peloton raises their subscription rate one dollar per month, they generate $1.7 million in extra bottom line revenue. A company can do quite a lot with $1.7 million extra cash per month.
Don’t overlook the 80% of the population that are not coming into the clubs for one reason or another. 150 million people in the United States — 74% of the population — are either overweight or obese. This just represents only one segment of the 80% who don’t come in. Many of them know your brand and reputation in your community. Use virtual fitness and nutrition to reach them.
