Flashcards
Health and Fitness Industries
Cards in this deck (23)
- 1What is the biggest health and fitness market?The US.
- 2The UK is the third largest market for fitness club membership. True or false?True.
- 3Which type of gyms have driven the most growth in the market?Budget and low cost gym chains.
- 4What are some examples of budget gyms?Pure Gym, The Gym and Exercise4Less
- 5Which form of growth is more popular within the health and fitness industry?Organic growth.
- 6Why do venture capitalists show interest in the health and fitness sector?Due to its strong market growth and profits.
- 7Which gym floated on the London Stock Market in 2015 and how much finance did it raise?The Gym Group raised £125m
- 8What are some examples of social change (not technological) within this industry?- Increasing obesity
- More awareness of benefits of a healthier lifestyle - 9How has the UK government supported this growth?Through funding exercise memberships for adults with obesity problems who may not be able to afford this.
- 10What are some examples of technological change within this industry?- New apps like PayAsUGym
- Digital channels
- Wearables like the FitBit
- Youtube videos, etc. - 11What have the apps enabled customers to do?Attend gyms and classes where they wish., introducing more flexibility.
- 12How can firms benefit from this technological change?The change can encourage more people to get involved with personal fitness, and so use the fitbit etc alongside club membership.
- 13How can it be a disadvantage to technological change?It can be seen as athreat to the traditional gym membership.
- 14What are the three market segments in the health and fitness industry?- Low cost/budget
- Mid-market
- Premium/luxury - 15What are niche boutique clubs?Specialist fitness and health services like spinning or yoga.
- 16What are some facilities that budget gyms have?- Focus on exercise equipment.
- Range of exercise classes
- Personal training by self employed workers
- Online booking - 17What are some facilities in the mid market segment?- Swimming pools and spas
- Broader range of equipment and classes
- Catering
- Family areas
- Personal training by employees and freelancers
- Direct selling of membership - 18What are some facilities in the luxury segment?- Most advanced equipment
- Niche classes and spa treatments
- Luxurious changing rooms
- Specialist trainers
- Direct selling of membership
- Pricing on application - 19What are some facilities in dry clubs?- No pool or sauna
- Focus on exercise
- More flexible space options
- Lower staffing levels. - 20What are some facilities in wet clubs?- Swimming pool and or sauna
- Broader range of facilities
- Usually need more space
- Higher staffing levels - 21How many people leave within their first year of membership?50%
- 22Most people that work in the health and fitness industry are self-employed. True or false?True
- 23What is pay like in this industry?Relatively low - self employed workers earn slightly higher than the national average.
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- AS - Level Business Studies Flashcards on Health and Fitness Industries, created by Jessica Ridley on 29/03/2017.
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- Jessica Ridley
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