How powerful strategy can boost success of your gym fitness business
A great success of gym fitness business will depend on how unique powerful strategy a gym business can create for it success. How powerful strategy can boost success of your gym fitness business? This is a question that every gym fitness business is looking for answer.
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How powerful strategy can boost success of your gym fitness business? Is this a relevant question for a gym fitness business to get answer? The answer is yes. It is true that gym fitness business is taking a giant leap in terms of market growth. On the same line it is also true that competition among gym fitness business has become cut-throat. So, how does a gym fitness business survive?
“The real challenge in crafting strategy lies in detecting subtle discontinuities that may undermine a business in the future. And for that there is no technique, no program, just a sharp mind in touch with the situation.”
– Henry Mintzberg
There is no straight answer to any of those questions. To understand what is doable let’s understand gym fitness business present market scenario. Furthermore, let’s also deliberate on some thought on possible strategy outline for gym fitness business for tier III cities.
Gym Fitness Sector Market Scenario
As COVID-19 is getting controlled, gym fitness industry segment is powering back to pre-pandemic market size of 2019. People have started participating back in gym, outdoor activity, home fitness in person. This is leading to fast trending pursuit in gym fitness market segment. Consequently, it is boasting overall gym fitness market size.
At the end of 2019, revenues in the Indian gym fitness services market space grossed USD 2,600 million. The gym fitness services market is forecasted to grow at a CAGR of 36% between 2019 and 2028. Accordingly, it is anticipated to reach a total market size of massive USD 41,383 million in 2028. Home fitness, online fitness services and wearable fitness market got high demand service in post-pandemic.
Similarly, there is rise of number of gym fitness centers across location – states, cities, small cities (tier II, tier III). The gym fitness business growth is following a patterns similar to the swift rise in people disposable income. The top demography of gym fitness user is 20 years to 45 years’ age groups.
In addition, people are facing increasing health condition i.e. obesity, diabetes, and heart diseases. This emerging prevailing health condition have made people to follow a gym fitness life style for improving personal health. Thus, it become one of the key factors for gym fitness market growth and surge in membership subscription.
Competition Scenario in Guwahati and Other tier 3 Cities
In recent time with the rise of disposable income people are indulging in more in healthier living, health fitness habits.
Furthermore, with penetration of the internet and technology people have become more aware of non-communicable diseases. Thus, it has improved their understanding and helping them to take conscious lifestyles including gym fitness choices.
This trends have been observed across states in metro cities, tier I, tier II, tier III, tier IV cities, etc. Spending money on gym-fitness membership has become latest fad among age group of 18 years – 45 years. Tier II and tier III cities are no exception in this trends. An increasing number of people in tier 2 and tier 3 cities looking for wellness and fitness solutions. Significantly, most men opt for muscle-building training and women for cardio-vascular and strength training.
Gym fitness market is showing a massive growth trends. Considering this market potential many independent, national brand, international brand, etc. are vying for growing market share. This is leading to a cut throat competition among the gym fitness brands. Guwahati gym operators include many top brand such as SK-27 Gym, Fit7 By MS Dhoni, Gold’s Gym, etc. Presently, there are nearly 190 market gym fitness market player in Guwahati.
Guwahati gym fitness market Size
Senitih business consulting analyst made a ball park estimate of Guwahati gym fitness market size. This analysis is based on secondary
market research. A gym fitness business has good market opportunity in Guwahati. In 2021, Guwahati has total available gym fitness market size (TAM) US$ 1,974 thousand. The Guwahati total available market size for gym fitness in 2028 would be US$ 16,988 thousand. For a gym fitness business growth in Guwahati market would be challenging one considering 192+ businesses competitor.
Model powerful strategy to boost success of your gym fitness business
Business strategy is the most essential part of gym fitness brand growth. Every gym fitness brand has to create its own brand strategy that works best for it. A business strategy need to optimize actionable tactics to drive best outcome of gym model and competing capability.
So how can gym fitness business develop their brand strategies to differentiate themselves from their rivals? Powerful strategies can help a gym fitness brand in gaining traction among their target demography. Also, strategies should address on how the gym fitness business can attract customers on an ongoing basis?
Refining Business Value Proposition
Customer value proposition should be one of top most priority of any gym fitness business. Therefore, a gym fitness business should be always taking pulse of what its target customer needs. What is emerging trends in customer value proposition? Usually a gym fitness business creates a willingness-to- associate by creating a brand value, status symbol of for user. A gym fitness business need to fine tune its tactic to address new fad of user in the target market.
Moreover, a gym fitness business can build strategic action plan with new services giving in more convenience or usability. This result in better outcome for the user. Also, Gym fitness business can take advantage of emerging technology. This will help gym fitness business introduce best opt-in services, customized training, on demand trainer, self-scheduling, etc.
Another strategic tactic for gym fitness business to play around is with customization on pricing space. There are many offer a gym fitness business can make. Some offer model are time-fixed price for unlimited use, pay-by-class, optional pricing for access at different times of day.
Competition Mapping
It is important for a gym fitness business to map competitor in a target location to capture more target user. Gym fitness industry is growing at very high growth rate as more people are getting health- fitness conscious. Also, many new gym fitness businesses are entering the market as there is less friction for a new entrant. Therefore, the number of competitor is increasing, with more equal and competing capability. This open up many options to user for brand switching as and when they desire without any cost.
Real challenge for gym fitness business to stay as top choice in a target location among user. To negate this challenge, first a gym fitness business has to be creator of new innovation on services line. Secondly, a gym fitness business can be the first mover or at least fast follower. These way gym fitness business can hold on to its user base. Also, it would also help in gaining new user in the long run. Moreover, a gym fitness business can implement new technological innovation as driving force for growth in gym fitness market.
Polishing Competitive Capability
To go forward with capability improvement a gym fitness business need to do performance analysis. Therefore, a business can analyze its strategic action based on KPI’s performance index comparing with competitor or industry standard.
Similarly, for competitive capability improvement, a gym fitness business need to do assessment of core competence. Business gains core competence based on aggregate experienced, pricing, cost/risk reduction, customization, superior marketing skills, top servicing, etc. Gym fitness business capability are neither inimitable nor non-substitutable.
Therefore, to be competitive a gym fitness company would need to improve value chain, cost structure or both. Gym fitness company can identify its primary activity along with related support activities to offer customer value proposition. Also, to stay on top of competitor the business need to do bench marking of competitor capability. Further, gym fitness business should improve its services or create uniqueness in value proposition to user to stay ahead.
Brand Positioning
Gym fitness business position itself based on services attributes and pricing band. There is not much room to play around on these factors. Moreover, these tactics are easily imitable. General strategic tactics for a gym is to follow a hybrid model positioning. In doing so, it can position itself as “best-price” service provider with upscale service attribute. Thus, it allows the gym fitness business to provide customer more value for money on a relatively lower price.
Brand offensive positioning
To move market and mind set a gym fitness business would require to be first mover (service innovation). Sometime, at least business can be fast follower. Company can pursue a unique service innovation by best-price option with better service, design, features, quality etc.. Further, gym fitness business can also improve on its superior ability to serve target customer segments or specific buyer groups.
In addition, a gym fitness business can apply some guerrilla tactics seasonally with some lucrative offers. These strategic tactics will help to capture target customer from complacent or distracted rivals.
In Summary
Guwahati gym fitness market would continue to have a huge growth for some years to come. There are many factors influencing for this prospective outcome. Guwahati’s emerging modern community is getting very conscious about health fitness. Another factor is the rising disposable income of people. To survive cut-throat competition, a gym fitness business may apply one or all nuance of business strategy for growth. The best success will come only when a business applies due diligence to gather knowledge and understanding of customers. With depth research, creative thought idea, designing to deliver targeted messaging can open the magic door for growth. Senitih business consulting can help in answering your business question. A unique value proposition with customer top willingness-to-associate to a gym fitness brand will surely succeed. Let your entrepreneurial journey be Mangalmay (मंगलमय).
