NEWS RELEASE

AFS Releases 4th Annual Fitness Studio Operating & Financial Benchmarking Research Report

Key Findings: Average Revenue Up 36%; Retention a Record 81%;
AFS Member Revenue 20% Higher Than Non-Members


(OAKLAND, CA, August 1, 2018) – The Association of Fitness Studios (AFS) announced today the release of its 4th annual financial research study on the fitness studio market.  The 2018 Fitness Studio Operating & Financial Benchmarking Report was conducted over a three-month period earlier this year.

While the study builds on the 2015, 2016 and 2017 reports that identified and measured key financial elements of the studio business, this year’s report analyzed the data differently, focusing on data points with a direct relationship with a studio or gym’s bottom line. 

This year’s study represents participation by a record 565 studio owners, uncovering a long list of critically important data on the studio business.

“We’re proud to bring this trend-setting annual research to the industry,” said Josh Leve, AFS founder and CEO.  “In particular, the Report focuses on key financial metrics for fitness businesses, to provide a roadmap to greater profitability.

“Because participation was so robust, we’ve been able to isolate key performance indicators to help businesses of all sizes and disciplines,” he added.

The Report identifies data to answer fundamental questions to positively impact the bottom line for studio owners.  Among the key findings: 

  • Average annual revenue up 36% over a year ago
  • Revenue per square foot is up 38%
  • Client retention is 81% - an all time high, up from 76% a year ago
  • 38% of fitness professionals are contemplating opening their own studio!
  • 19% intend to open within a year; another 35% within 2 years

“This is all great data that I’m certain will be enlightening to our entire studio and gym community,” said Leve. “But the data points that truly warm my heart indicate AFS members are doing substantially better than non-members.”

Key findings in that regard for AFS members -

  • Revenue per Square Foot 19.5% higher than for non-members
  • Revenue per Member/Client is 20.5% higher
  • New member acquisition is 63% higher

The fitness studio business is generally acknowledged as the fastest growing segment of the fitness facility industry.  Prior to the AFS studies, owners, investors and marketers were dependent on anecdotal and unsubstantiated information.  Now there’s real data.

The 2018 Fitness Studio Operating & Financial Benchmarking Report was generously sponsored by:

  • Sports & Fitness Insurance Corporation
  • Fitgrid
  • SportsArt
  • Matrix
  • MYZONE
  • Precor
  • Power Systems

The full Report is available free of charge to AFS Premier members, sponsors, and associate members (vendors). For non-members, the full Report is available for $199.  For more information you can find the report here.

About AFS

The Association of Fitness Studios (AFS) is the only membership community dedicated solely to the business of fitness studios.  AFS provides studio owners and developers a wide array of business-specific products, services, and benefits that enable them to more effectively manage and grow their businesses, building on the passion, compassion and courage they’ve already shown – including SUCCEED! - the first-ever major Business Convention & Expo for current and aspiring studio/gym owners.

 

About SUCCEED!

SUCCEED! will be an event like none other in the fitness industry with 2.5 days of education solely dedicated to fitness businesses of all sizes, disciplines and tenure for entrepreneurs looking to take the next step in their career. The event will feature three pre-cons, over 50 sessions in six educational tracks, a 70-booth Expo highlighting new technologies and equipment, with networking and social events throughout.