The $94 billion fitness industry is reinventing itself as Covid-19 spreads

Original Referenced Story :by Alexis Benveniste, CNN Business
Updated 12:14 PM ET, Wed April 1, 2020
URL: https://www.cnn.com/2020/04/01/business/fitness-studios-coronavirus/index.html

I always stress how important it is to be on top of your industry trends when advising fitness professionals. It is not enough to gaze at the major players', but equally important to ask why emerging brands choose to take alternative routes in their business models. Alexis Benveniste published an article on CNN Business that explored this $94 billion industry-related shift. By understanding how to tie business decisions to data instead of intuition, you will make informed decisions, allowing exposure for growth or to prevent your demise. For the +400k personal trainers in the USA, if the mark was missed, get caught up by doing the following:
1). Go digital while keeping a similar value proposition and offering.
2). Restrain from putting all eggs in one basket, by thinking brick and mortar site equals success and end goal.
3). Learn to scale your business by offering in-person, live-streamed, and pre-recorded options for customers.
It is essential to understand that you can never 100% accurately predict the industry, but you can stay on top of growing trends by continuously equipping yourself with the tools so that when a pivot is needed, you can drop step and dunk.

Robert L. Palmer

Fitness Entrepreneur | Digital Operator| Wellness Brand Consultant