24 hour ftiness project
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MARKET RESEARCH Objective 1 Investigate customer usage, perceptions and attitudes toward personal fitness training. Objective 2 Assess criteria members feel are important when working with personal trainer, and barriers to participation. Objective 3 Measure the effect of a second free personal training trial on membership. Objective 4 Evaluate customer experience and degree of customer satisfaction. Objective 5 Identify motivation for membership, and determine viable customer segments for personal training.
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24 hour ftiness project
- 3. RETENTION Motivation Usage Rate Goals & Needs Gym Habits Attendance CONSTRUCT Service Engagement Helpful Staff Amenities Variety of classes Personal Training Sessions v. cost Satisfaction Dependent Variable Independent variables that could predict outcome
- 5. PIONEER First of its Kind accessible affordable way of Life 24 hour operation month-to-month & online memberships biometrics STRATEGY community gym cost leadership market penetration strategic partnerships customer-centric 5% MARKET SHARE. 420+ clubs nationwide. World’s largest chain by membership with over 4M members. HIGH ATTRITION, LOW RETENTION TARGET Cross-wide neighborhood residents, working professionals, students
- 6. ● Intense rivalry, 2014 34.5K gyms 54.1M members $25.9B revenues Membership rises with economic growth Participation correlated with location CONVENIENCE BUSINESS FRAGMENTED INDUSTRY. Top 50 brands control 30% of market. Price-driven and diverse players. HEALTH AWARENESS. 97% Americans say fitness is important; only 12% regularly work out. One in five is a health club member Clubs privately owned. Some consolidation. Ave. 12-15 months retention 90% of clubs have 30-50% attrition 20-30% retention
- 7. COMPETITION Market Presence 24 Hour Fitness Gold’s Gym Anytime FitnessCrunch Sources: Google Trends, Compete LA Fitness 310,390 likes 19,720,367 visits 4M members 400+ clubs $1.3B 226,275 likes 5,878,663 visits 2M members 3000+ clubs $977M 583,790 likes 3,014,487 visits 3.5M members 700+ clubs $2.5M Curves Equinox 369,143 likes 13,423,143 visits 800 clubs $1.85 B
- 8. Sources: Google Trends, Statista, gymmembershipfees.com, Club Industry Top 2015, IBISWorld, Franchise Chatter, http://www.ptdirect.com/training-design/exercise-behaviour-and-adherence/attendance-adherence-drop-out-and- retention-patterns-of-gym-members SECONDARY RESEARCH ● ● ● ● ●
- 13. SAMPLE PLAN • •
- 14. SAMPLE SIZE
- 17. RESULTS •
- 18. MORE RESULTS 51% of respondents are very likely to take the free session
- 19. MORE RESULTS: • 37% of gym-goers don’t know the free trial session • •
- 20. RESULTS OF REGRESSION ANALYSIS: No Correlation Found
- 21. • • • • ◆ ◆ RESULTS OF REGRESSION ANALYSIS: No Correlation Found