What We Cover In This Episode:

• Current industry statistics around the percentage of Americans with a gym membership, and how it is linked to the different generations [1:40]
• What we think the fitness industry will look like years from now, despite the short-term pain being experienced [7:18]
• Who will have the best chance to be successful in the fitness industry moving forward [7:35]
• The importance of the intimate experience that boutique studios offer their members, and how this can't be replaced yet [11:59]
• How studio owners will have to get out of their own comfort zones to survive and thrive into the future [16:07]

Quotes:

"I feel like everyone rags on millennials. I don't know why millennials are the butt of every joke, but they take up the majority of the space as gym members, as they account for 33 percent of all memberships." [Megan, 3:39]

"The fitness industry is going to look like what a stock market chart looks like. It's going to be a blip, there's going to be pain, and for us right now it feels like forever. Some of us might never come back from this, but in the grand scheme of this, 5 to 10 years from now, it's going to be bigger than it ever was." [Nick, 7:18]

"Any technology that's not used as to what I'll refer to as a supplement, is to me just going to hit a roadblock. It can't replace anything, but if I'm a great coach I know what I'm looking for, and I now have an assistant. I can do more things better, but now you don't need someone with a deep understanding of fitness to take over your classes." [Nick, 9:45]

"It'll be interesting to see how studio owners resist [change], because they preach all the time to their clients to get outside their comfort zones, but it's to get into their comfort zone. Now I'm curious how many studio owners get out of their comfort zone and figure out they need to offer some kind of resistance training that they can't do, and they have to find an instructor to do that." [Nick, 16:08]

LINKS:

The future of fitness according to 186 industry leaders at the 2022 Connected Health & Fitness Summit

fitDEGREE's Business Portal

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