During the Pandemic, fitness centers faced very trying times with shutdowns across the nation. Along with pent up-demand to go out in public again, the “great reopening” of 2021 has brought a wave of new fitness enthusiasts who feel safer with more people vaccinated. In addition, consumers are learning to live with the new “normal” with COVID-19 present in society. Global fitness franchise F45 is almost doubling its locations. It has more than 3,200 franchises sold in 65 countries. In the fourth quarter of 2021 alone, it sold 275 new franchises and opened 130 new studios.
Although the pandemic did hurt the sector with many fitness centers slimming down locations or filing Chapter 11 bankruptcy, many were able to hang on, fight through hard times and emerge stronger. Now, many fitness centers are back to focusing on growth and expansion. Landlords are also looking at fitness concepts to drive traffic to their retail spaces. They have shown to have synergistic effect on strip centers by bringing customers to their stores an average of 3-4 times per week.
Tenant Outlook: Fitness Sector Jumps Back into Expansion Mode | ICSC: Innovating Commerce Serving Communities
About The Author: Jeff Dervech
Jeff Dervech is a Tampa local commercial real estate agent, specializing in the arena of retail strip center and shopping centers.
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