The total market for fitness is valued around Rs. 4,670 Cr, growing at 17-19 per cent and is estimated to cross Rs. 7,000 crore by the year 2019. Read on...
Chandigarh has a huge population of youth, who have come to the city in search of a job or start their business; people who also are very creative and willing to start their business and are fitness enthusiasts at the same time. And according to reports opening a fitness franchise business can be one of the most profitable business options for them.
The report predicts the global fitness equipment market to grow with a CAGR of 5.4% over the forecast period of 2018-2024.
The total market for fitness is valued around Rs. 4,670 Cr, growing at 17-19 per cent and is estimated to cross Rs. 7,000 crore by the year 2019.
Here are the top factors that make fitness franchise business one of the most profitable businesses in Chandigarh:
Social media Influence: Fitness is no longer only a daily activity; it has become the fashion for this generation. The youth don’t just want to be fit; they want to be on social media and show off their workout schedules. The desires to earn likes, followers and gain popularity over social media microblogging sites like Instagram and Facebook is of importance today. This in a way is indirectly helping the millennial to spend more time in the gyms and workout stations, thus fitness entrepreneurs are looking forward to opening more of these centers in order to equip the youth with their choices of the workout.
Celebrity Influence: Different social media applications offer different options for the youth to explore and know more about their favorite celebrity. The millennial not only follow the celebrity for their acting on screen or to know about the insights of different sports, but for their beautifully chiseled body as well. The millennial strongly follow the workout routine, diet and which brand the celebrity promotes, and so the fitness franchises tie up with these celebrities to attract more and more customers towards their brand.
Fitness Conscious Millennial: The growing awareness among the youth about their health and environment has pushed the entire generation on the tracks of fitness. The youth is so concerned about their health that they spend their maximum time of the day in keeping their fitness at the place, which is why the number of gyms and fitness cafes has nearly doubled in the past couple of years.
Digital Marketing Campaigns: The scope of digital marketing has opened another giant window for opportunities in the field of marketing, brand promotions and creative people. Chandigarh is known for its creativity. Social media and digital marketing go hand in hand; digital marketing plays a huge part in influencing the market and takes the demand for products to another level. Recently, the brands have been playing around a lot with #Fitfluencers and involving not just celebrities but the non-celebrity people and common people, who are relatable for the masses.
Those who want to start their own business or take up franchisees can join in the FRO 2019, happening in Chandigarh on 19-20 January, to know more about the franchise business, financial advice, and business advice from the experts. Meet the investors personally and participate to change the small world of business.