Matthew Januszek of Escape Fitness shares his insights on the booming but ever-changing club industry. What will make the difference for the exercisers of 2016?
Excerpted from WHICH BUSINESSES WILL MAKE IT OR BREAK IT IN 2016? on the Escape Fitness Blog
“As I have travelled around the globe over the last 12 months I have talked with owners of many different businesses in many different countries. What has become clear to me, is that wherever I went and whatever business sector I looked at, businesses and business models are being majorly disrupted.”
“In today’s world, businesses seem to fall into two camps: either the ‘disrupters’ leading the way by totally reinventing the way they service a market, or the ‘disrupted’ who are having change forced upon them, continually being on the back foot and scrambling to reinvent themselves or face extinction.”
“A new type of competitor is emerging, offering a premium price, high-touch, instructor-driven fitness experience. Soul Cycle, Barry’s Bootcamp, 1Rebel and Orange Theory – are all part of a new breed offering new fitness experiences for a new consumer. The Millennials are their new target customer – for whom it’s all about having their friends like their Instagram posts as they check in at the hottest Studio in town. The dialogue has changed from ‘how little I pay to workout’ to ‘how much I do pay’, with a single session at a boutique studio or club costing more than a month’s membership at a low-cost gym.”
“The fact that the future is uncertain should be a driver for planning, as well as for innovation and risk-taking. To steal a famous quote from Futurologist, Joel Barker, “When a paradigm shifts, everybody goes back to zero”. In other words, when an industry is disrupted then it’s not just you but all of your competitors that are levelled to the same starting point. The rule book has just been ripped up, nothing is off limits and nothing is impossible. Your biggest competitor may now be standing shoulder to shoulder with you at the starting line with no more of an advantage than you.”
“So how can you be one of the disruptors, the winners, the game changers, for the year ahead?”