The Boutique Fitness Studio Stampede
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Publisher's Note: Our friends, Stephen Tharrett and Mark Williamson, Founders and Principals of ClubIntel, a health and fitness club industry research firm and consultancy, recently released an in-depth White Paper Report on a subject that affects all in the health and fitness club industry: The Boutique Fitness Studio. Given the depth of research provided and interpreted into key insights, we felt this a worthy report for reprinting in Club Insider. With their permission, we will present their report in Two Parts. We urge you to read on.
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The boutique fitness studio industry has been garnering considerable media hype, not to mention private-equity funding over the past several years. When an industry, such as boutique fitness studios, is able to capture the imagination of consumers, the attention of industry pundits, the envy of many fitness operators and the wallets of investors, you've got to believe it's the real deal!
In an article that appeared in a June 2019 edition of the New York Times Lifestyle section, author Katherine Rosman referred to the boutique fitness studio phenomena as the, "The Boutique Fitness Boom." An article appearing in the online blog Glofox from earlier this year, author Eamon Curley had as the headline, "The Boutique Fitness Industry Statistics that Show Why Business is Booming?" Finally, in the August 28, 2018 edition of NASDAQ Online, author Chloe Shin addressed the topic in a piece entitled, "What is Boutique Fitness, and How Can Investors Profit?"
So, is the story of the boutique boom the real deal, hype or possibly a hybrid of the two? ClubIntel has been writing and speaking about the boutique fitness studio segment since 2005. We are a believer in the power of boutiques. We believe boutique fitness studios are a natural evolution of the fitness industry framed by changes in our nation's culture, socioeconomic conditions and generational lifestyles. Despite our enthusiasm for these fitness industry innovators, we are also realists when it comes to defining whether the "Boom" is everything it's being made out to be.
This report is intended to share information about the industry, some big picture and some microscopic, that collectively should assist readers reach their own conclusions in respect to the trajectory and scope of the boutique fitness studio segment. We'll begin by defining the boutique fitness segment and then move on from there.
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