Costs, Trends, and Analysis
Industry: Gym and Fitness
Gym and Fitness Industry: Cost, Analysis, and Trends
What does that growth look like for the average gym and fitness business owner? As of 2020, the average gym and fitness business has been in operation for an average of 4.5 years – and still going strong. Individuals starting up a gym or purchasing a franchise location in 2020 invested an average of $247,799. Businesses already in operation saw a median gross profit of $193,656, an average COGS (cost of goods sold) of $85,489 and an average total value of $179,622.
Interested in the business opportunities this field affords? Take a look at average, median, year-over-year stats and more in this gym and fitness industry analysis.
Gym & Fitness Business Trends
Revenue shows the dollar amount a business takes in from providing goods and services, while expense is the amount spent to generate that revenue. Gross profit is the profit a company makes, minus the cost of providing and selling goods and/or services. Total value shows the value of the business, minus the cost of procurement. Average (a.k.a. mean) and median are both provided in this comparison graph, in order to provide more context around these values.
Gym & Fitness Business Ownership
Baby boomers continue to dominate in small business and franchise ownership, with over 56 percent of gym and fitness business owners born between 1944 and 1964. Boomers, with hard-earned experience and a large network, are uniquely positioned for success in small business.
Nearly 45 percent of gym and fitness business owners employ 6 or more employees, a higher percentage than many other small businesses. Employment numbers for this industry show no sign of slowing down: [IBIS World Reports] project a 7 percent increase over the next five years.
The gym and fitness industry gender breakdown falls right along traditional small business lines, with about 60 percent male ownership and 40 percent female. The number of female-led businesses has continued to increase, with an amazing 58 percent growth from 2007 to 2020.