Boutique Fitness Research

Goals

To understand the current state of the boutique fitness industry and the key players (top brands) in this industry. To determine the growth drivers, the average revenue per square foot for moderately successful boutique studio, and the long term outlook of boutique fitness versus more modern at home technology connected systems; tonal, peloton, and mirror, in order to inform a new business concept that is focused on the boutique fitness space.

Early Findings

Overview

Barry’s Bootcamp

  • In the past five years, the number of studios has increased from 20 to 60. They plan on opening 100 studios across the globe within five years.
  • This company has seen a 40% growth and 10 new locations within the past one year.

Growth in the Boutique Fitness Industry

  • There have been economic, social, and cultural factors that have played a role in the popularity of this industry.
  • 63% attend boutique fitness centers for the sense of community and 47% attend these gyms because of the atmosphere.
  • In 2017, four of the top ten fastest growing brands were held by fitness brands and franchises.
  • A competitive landscape of these brands is presented in this spreadsheet.

Proposed next steps:

You need to be the project owner to select a next step.