Covid-19 Caught Gyms Flat-Footed, Harrison Co. Founder Says

The fitness industry faces significant challenges post-COVID, with a potential $10 billion revenue loss as many members cancel their gym memberships. This has led to financial strain on fitness clubs, especially those backed by private equity. Some clubs are exploring omnichannel solutions, like online classes, to adapt. The industry may see a shift towards home fitness, benefiting companies like Peloton. Investors are cautious, waiting for clearer data before making decisions. The future of many fitness clubs remains uncertain, with potential closures and transformations on the horizon.

What is the estimated revenue loss in the fitness industry due to membership cancellations post-COVID-19?

• $15 billion

• $10 billion

• $5 billion

• $20 billion

Which fitness model is likely to survive due to its strategic locations and dedicated customer base?

• 24 Hour Fitness

• Equinox

• Gold's Gym

• Lifetime Fitness

What is a potential consequence of the fitness industry's transformation on commercial real estate?

• Increase in gym memberships

• Expansion of fitness clubs

• Rise in home fitness equipment sales

• Vacancy of commercial real estate

What innovative solution are some fitness clubs considering to retain members?

• Reducing membership fees

• Offering connected fitness solutions

• Expanding physical locations

• Increasing advertising

What percentage of the $10 billion leaving the club space is expected to go into home fitness?

• 5-10%

• 20-25%

• 10-15%

• 15-20%

What is the expected impact on venture capital investments in the fitness industry?

• Complete withdrawal from the fitness sector

• Shift towards home fitness investments

• Focus on international expansion

• Increased investments in commercial gyms

What is the anticipated response of venture capitalists to the uncertain future of the fitness industry?

• Write down their equity

• Invest in fitness apparel

• Increase funding for new gyms

• Focus on marketing strategies