Every once in a while, all of us do dream of the day wherein we can walk into any room we wanted and anyone inside would not hesitate to say, ‘That’s a hot body!’ Of course, we all know that we may not all have Paris Hilton’s hot body, evident in her Carl’s Jr. commercial, nor a physique like Brandon Routh, which is the guy who played Superman recently, but we might as well dream big. Am I not right?
Though seriously, this is the same philosophy that made the Health and Fitness Industry gross to more than $15 billion in revenue. People would like to look good or feel good in trying to look good. By this, many people sign up for health and fitness programs that will provide them the feeling of security that at least someday we may achieve a beautiful and healthy body. And for those who achieve the most coveted physique, then kudos for your hard-work.
Now a business man would think after the reading the facts above, ‘Who are these people who will pay possibly ludicrous amount of money just to look and feel good with themselves?’, or a better question would be, ‘What should be the target market for my gym business?’ If that is the case, then we will show you the target market for a gym business.
Normally, we would say that men go more to the gym than women do. However, that seems to contradict the present statistics. Believe it or not, 57% of gym and health club members presently are females. This is possibly the reason why health clubs exclusive to women are becoming a successful trend in the health and fitness industry. This also indicates that women are more attuned to a healthy lifestyle than men do. So a female target market for a gym today is the way to go.
Now, a statistic for gym and health club members based on age shows that 35% are still in the range of 18 to 34 years old. This is expected since young people are more conscious with their physical attributes compared to other age groups. But shockingly, 33% of gym and health club members are from the age 35 to 54,
while a substantial 20% of members ages 55 and above. This indicates that the target market for a gym, based on age, is from ages 18 to 55. So a gym business owner must cater to the specific needs of these individuals to attain customer loyalty. An accurate way to know what the target market wants is to do a survey.
Another figure representing gym memberships by annual income still shows that 50% of members have annual income of $75,000, while a noted 19% has annual income of $25,000 to $49,999. This shows that the gym memberships are still distributed throughout a wide-margin in the population; where middle-class citizens are still interested in joining a gym if membership costs will go down. This proves that the target market for a gym business can be widened if costs can be lowered enough.
In summary, a business man who knows his target demographic but does not know how to effectively market his products and/or services to the known targets will not be able to garner the expected maximum revenue compared to a marketing strategy that was deemed to be a success. However, a successful marketing strategy will not benefit you in the long run if you cannot maintain customer loyalty. If this is the case, the people who signed up for your gym will just transfer to other gyms catering to the same demographic. So knowing the target market for your gym coupled with a good marketing strategy, high-quality of service and excellent management will assure the success of your gym business.
This article was taken from http://www.briangreens.com/!