the importance of product-market fit for gyms and fitness studios

The fitness market <> your gym product

In Module 1 of our ‘Opening a Gym or Fitness Studio - Four Steps to Success’ e-course, we help you develop a solid understanding of your local market dynamics and competitor businesses, identify the key industry trends your concept taps into and zero in on the type of clientele you will be targeting. 

We start by looking OUT in other words, at what is happening around you to ground the whole process in reality.

In Module 2 we then turn our attention INWARDS to focus on your product - fleshing out a concept for the future gym or studio itself.

a symbiotic process

These two, Market + Product, are two sides of the same coin, not two disconnected pieces; the idea is to leverage market insights to inform and corroborate the product definition. 

We want there to be plenty of cross-over between the two = ‘product-market fit’, a.k.a magic dust!

So we have two possible scenarios. First, you had a vision for a future facility already and an analysis of the market as detailed in Module 1 of our online Course provided valuable insight into how suitable it really is for your chosen location at this moment in time.

If there was nothing there to suggest it being suitable, you may be faced with the conclusion that it is wildly out of synch with your local market, in which case, deep breath in - maybe, just maybe it’s not such a great idea after all? Far better to be honest with yourself upfront. Move on to your next idea.

Alternatively, perhaps you are adopting a more calculated approach, exploring the market first in search for an enticing opportunity or gap to fill…  in that case, if you didn’t find one, you’ll have to keep looking or accept that the moment isn’t right. 

Glass half full though, let’s assume that you have either made an informed decision on a gap in the market that needs filling or corroborated your existing idea with robust market insight.

Defining your new gym or fitness studio product

It would then be time to start fleshing out your plans for what the new gym or studio will be like, meaning you are ready for Module 2 of the course, “Your Product”. 

Before we get into that though, let me just illustrate that point further - at one extreme you would have a new gym concept designed specifically to fill a gap identified in Module 1, this is the type of premeditated strike one would expect from the likes of an existing group or fitness brand with funding that are looking to launch a sub-brand for example, or create a second business under a new brand. 

At the other extreme would be an owner-driven concept that comes from his or her own passion and desire to realise a specific vision, this might be a proven entrepreneur with experience in the industry and/or access to funds to fuel his next project, for example. 

Or simply someone 'scratching an itch' who thinks they have something to contribute and, one would hope, at least some of the skills required to make it happen, whether it be a personal trainer, gym manager or a fitness fanatic investment banker making a career switch. Whatever, it’s all good.

Ultimately what we’re looking for in an ideal world is a mixture of market opportunity and the dogged belief, passion and commitment to launch a new project because it is not going to be easy! If you can hit this sweet spot though, we’re ready for you in Module 2, so join us there! 

Our ‘Opening a Gym or Fitness studio’ course is for anyone hoping to open their own health or fitness facility and wants a concise, simple to follow, 4-step process to getting it right, without the need for expensive consultants. It is the course I wish I had found back in 2016 to help me on my journey.

To find out more, subscribe to our YouTube channel or visit our courses page at www.biofit.thinkific.com