This turnaround aligns closely with retail’s – both of which are now seeing pre-pandemic levels rebound to above average rates.
Larger gyms are using empty vacancies to their advantage to fill big-box locations. A Crunch Fitness franchisee recently made waves when it announced plans to open eight new locations.
Leaders in the fitness industry believe that the vaccine has caused a renowned interest in working out again.
“I have a list of individuals that said, ‘when I get the vaccine, I’m coming back,’ and that has been the case,” said investor Eduardo Buelna in an article with BisNow.
Athletic equipment manufacturers are unlikely to go out of business anytime soon. However, the desire for people to leave their homes will bring people out to fitness concepts – in order to ignite community and focus on wellness.
Source: Fitness Tenants Turnaround – BisNow
Photo Credit: Fitness Tenants Turnaround – BisNow