Proposed next steps:
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Our initial research was able to provide insights into the growth of the boutique fitness industry. Given that there are available resources on this, we propose continuing the research to provide 5-7 additional insights that describe the long term outlook of boutique fitness studios versus a more modern at-home technology connected systems like Tonal, Peloton, and Mirror.
We also recommend undertaking additional research to provide 4-6 trends in the boutique fitness industry. For each trend, we will indicate what the trend is, why it is a trend, and provide examples of companies that are manifesting this trend.
Additionally, we will identify the top 6-8 franchising brands in this industry. "Top" will be defined as those that are generating the most revenue or those that have the most number of franchises across the US. For each top franchise brands, we will provide the name, website, why it is a top brand, and its value proposition. We also recommend performing a competitive analysis of each of these top players. For each player and for the brands that were previously provided, we will provide the headquarters, company description, number of franchise branches, competitive advantage, website messaging, social media messaging, awards and achievements, and revenue. We will provide these data points into the linked spreadsheet(https://docs.google.com/spreadsheets/d/121hnjvRM7fHd9p2dW8D2Ku8SQC3Ie8XIxLEXsz704-c/edit?usp=sharing). Additionally, we will determine the average revenue per square foot for a moderately successful boutique studio, keeping a US-focus.