A recent article by Forbes found that the lifetime fitness industry has more than doubled in just three years. The US alone had more than 8% of the total membership of almost 63 million members as of 2016, with $2.6 billion of annual revenue.
This phenomenon is soaring past traditional gymnasiums and with it the whole industry is seeing a rise in membership, sales, and revenue. These numbers are only expected to continue growing throughout 2018 thanks to improvements in technology and new innovations that have made this type of routine very accessible to anyone on any budget.
So why is this happening?
Until roughly 20 years ago, the average gym membership was kept with a handful of people. You had to be in good shape and have drive, be able to work hard in the gym, and most importantly have no option but to go there. With the creation of home gyms, this standard has now been changed for many people. Fitness at home has become much more accessible and affordable as technology has evolved over time. These new technologies are quickly becoming the norm and are helping everyone from stay-at-university students to unemployed workers find fitness at home on their own schedule.
A physical location is no longer required for people to find fitness at home. The evolution of the internet has transformed our lives in ways we could not have imagined 20 years ago, especially with regards to how affordable and accessible fitness has become.
Why is it so popular though?
The benefits of working out at a gym have become more than just a way to work out, they have become an aspect that most people are serious about by choice. All the forms of workout equipment found in gyms today have also advanced to new, more innovative designs and technologies that are making exercising fun and using these new designs has made working out much safer than it used to be with the dangers of lifting weights or using the wrong type of equipment.
It has become so safe that in 2016 the National Strength and Conditioning Association concluded that there are no serious or life-threatening injuries occurring from working out at home. It is much safer than going to a gym and with the advancement of technology it has become more affordable and accessible for both those who have a passion for fitness as well as those who are just looking for an effective way to get fit.
So what is driving this massive growth?
Affordability has been one major factor, seeing as cheaper ways of getting healthy, including working out at home, have made workouts more affordable. This both encourages people to work out but also allows them to work out when they are not in the best physical shape. The US has also seen a big increase in home-based fitness as baby-boomers have gotten older and need to exercise to stay healthy and maintain their health.
Another major factor is technology in the form of home gyms. These machines help people achieve a full body workout in their own home and many of these machines are simple enough for anyone to use, even those who are not particularly active or physically fit. This is why fitness at home has become so popular in recent years.
It is accessible to anyone who can afford to buy a home gym and improvements in technology is making them much safer than they used to be. A full body workout at home is becoming more popular than ever for the average person, even if they have no prior experience or history of working out at all.
Most people who work out at home require very little equipment to keep them active, especially if they are working out consistently. The average equipment cost for a good quality home gym ranges from $500 – $1500, depending on the quality and features of the machine or units that are used together.
While the average cost of a gym membership is $40 – $80 per month, most people who work out at home can find equipment for as low as $20 per month. This is a very affordable price point and is helping people who do not have a physical space or proper equipment at home to still be active and keep fit.
Most gyms only offer couples and single classes, but this is changing with the use of wearable technology. Using these devices has made working out at home much more accessible to anyone that needs to be in shape, on their own schedule, or has no access or desire to go somewhere with other members or trainers.
The trends that have helped make fitness at home more accessible and affordable are only expected to continue growing in 2018. The new designs of the equipment, the use of technology in many spaces, as well as the increased affordability of being fit will continue to help people who are looking for fitness on their own terms.