CNNiReports
As millions of consumers continue to swap over-priced SUV’s for wallet-friendly compact cars, the same trend is taking shape in the fitness industry. No-frills concepts like Snap Fitness are rapidly dominating the $16 billion fitness category, as workout enthusiasts trade in their memberships at big-box facilities for the convenience and affordability offered by 24/7 compact fitness clubs.
The world’s fastest growing franchise featuring compact, state-of-the-art fitness centers, Snap Fitness has defied recession conservatism and continued to expand its “no frills” concept worldwide, having already opened approximately 300 clubs in 2009. Today, Snap Fitness has nearly 1,000 locations open and operating throughout the United States, Canada, Mexico and India, with more planned in Australia and New Zealand.
The burgeoning brand consistently opens 300-400 new clubs each year and plans to have a total of 2,500-3,000 centers worldwide in the next few years.
After spending more than 20 years in the fitness industry owning and operating various big-box clubs, Snap Fitness Founder and CEO Peter Taunton realized that many of the costly amenities offered in his facilities such as swimming pools, racquetball courts and childcare sat idle most of the day. Knowing most people are on the go, constantly seeking balance between work and family, he designed a model that incorporated the most readily used health club equipment into a smaller, more efficient, passcard-secure facility.
Snap Fitness gyms are small – only 2,500 square feet – and frills free. There are typically five treadmills, two stationary bikes, five eliptical machines and weight equipment. The gyms typically attract married folks, aged 35 to 55, with kids. Most don’t have the time to linger over a cappuccino or leer at the young man or woman on the next bike. Many live within two miles of the gym.
“Our more than 400,000 satisfied members, combined with our triple-digit revenue growth, proves we've honed in to what consumers want and expect from their fitness program,” said Taunton.
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