The fitness industry is facing great loss in this pandemic due to the shutdown of gyms, trying their best to mitigate the spread of COVID-19. Taking classes outdoors provides these outlets an alternative to less-profitable online offerings.
There is franchise opened by Jacob Gise named as Body Fit Training in Santa Monica, California, in November, the flagship U.S. studio of the global chain become profitable by March.
Jacob Gise went to Australia and traveled a lot for enhancing more knowledge about body fitness So that he can open his franchise he went there to learn the ropes. so he was enraptured to see the investment of time and resources beginning to pay off. The total operating cost he has invested in his franchise is about $42,000 including monthly rent, equipment, and instructors.
Then, this pandemic happened and hit the most workout facilities in the U.S. they were forced to shut down the gyms. Jacob Gise than started giving the online fitness session but it wasn’t enough- he was able to earn only $8000 per month which was around six times less than his actual income. He was not able to pay his rent and other expenses because of this pandemic his business was in huge loss.
Now, the market is rapidly shrinking due to coronavirus, the fitness industry and other industries are in a major loss. According to the International Health, Racquet & Sportsclub Association, the fitness industry was in great profit before pandemic there were around 62.4 million members of Health Clubs in the U.S. in 2019.
Gise said that he has climbed the mountain, traveled to different countries, and practiced a lot for his fitness. So that in the future he will be able to help other people in maintaining their fitness but now everything is shut down.
Gym trainers are taking online fitness session so that they will be able to generate some revenue, it has been said that 95% of the revenue has already been dried up in April due to the virus, and about 53% of its staff was laid off. Gold Gyms and 24-hour fitness have already been bankrupted.
So, gym owners are deciding to take the session on streets and Gardens to shore up their failing businesses, they are reopening their gyms in totally different styles and a different manner. So, they will be able to generate more revenue.
Stay Safe. Stay Health. Stay Tuned.