Survival of the Fittest
How companies turn a profit and stay relevant in the rapidly growing fitness industry.
Although it's hard to imagine, prior to the 1970s physical fitness wasn't on the mind of most Americans as it is today. The “running boom” in America sparked a nationwide change in how Americans viewed exercise. What used to be exclusive for professional athletes, has now become one of the most popular past times, and where there is popularity, there is money to be made.
Ever since the running boom made road races popular, companies have been finding ways to make all kinds of fitness activities profitable and accessible to the average person. From Jane Fonda’s exercise tapes to the Peloton, it is clear this industry can be very lucrative, but what makes some rise to the top, while others come in last?
Take some of the most successful businesses like Peloton, Crossfit or Orangetheory, none of them have the same method for getting the user to “the best version of themselves” but they all share one common thread, community. With the decline of participation in traditional community building places like churches, small neighborhood gatherings and charity groups, people are turning to their fitness centers to fill the gap.
The mission statement and strategy for a company needs to emphasize both the individual user, but also the user base as a cohesive group. The challenge is how to incorporate this into the company plan to turn a profit. Bottom line, it seems like in order to survive as a fitness provider in today's world, just focusing on the physical benefits won’t be enough.