Health And Fitness Club Industry Paper

The Health and Fitness Club industry has seen growth in recent years due to consumer trends such as health campaigns promoting a healthy active lifestyle. The Health and Fitness industry has often been associated with the entertainment business but that is no longer the case, individuals now recognize the value of exercise and wellness as health prevention tool (Heno,2015). A major reason for the growth in the industry has been attributed to the industry fusing with other industries to diversify products thus increase popularity (Heno, 2015). The integration of a more prominent healthy lifestyles have opened up the door for martial arts to an attractive option for individuals looking to improve their lifestyle.

The market size for the Health and Fitness Centre Industry market size has seen an annual growth of 2.3% from 2012 to 2017 (IBISWorld, 2017). The growth of industry has seen the industry revenue in Canada reach $3 billion in 2017, with much of the revenue being attributed to the membership fees. Health and fitness clubs often charge membership fees on a month by month basis, which account for 61.9% of industry revenue (IBISWorld, 2017).

These include the Tradition Gym/Fitness Centers, Family/Wellness Centers, Medical Fitness/Wellness Centers, and Specialty Studios. The Art of Balance Dojo would fall into the Specialty Studio category alongside CrossFit Studios, Yoga Studios, Kickboxing Studios and Pilates centers. These Specialty Centers have seen an increase popularity in the community as consumers have had an increase in discretionary expenditures, as a result smaller gyms and specialty and boutique gyms with local clientele have fared well in recent