Fitness Industry Financial Performance Insights
Knowing how you are doing relative to your peers is an important measure of performance. Am I doing better than other businesses like mine? Are others doing things that I can do to make my business better? Where am I outperforming my peers? I know I’m growing, but am I growing as fast as my peers? Understanding your business’s relative performance is critical to planning and making adjustments to meet your business goals.
The initial Ceterus Franchise Benchmark Report is focused on providing two important measuring sticks. First, how did Q1 2022 measure against Q1 2021? The first quarter of 2021 was the beginning of vaccinations and increasing consumer confidence. We wanted to see how today’s market with access to two rounds of vaccinations and up to two boosters is doing relative to the early days of vaccine availability.
Second, we wanted to see how businesses are doing relative to the last quarter with results before lockdowns and shutdowns started. Q1 2020 started out strong based on the momentum and optimism developed through the end of 2019 and continuing into early 2020. Measuring Q1 2022 against Q1 2020 is important to understanding whether business is “back”.
Find out how you stack up to other businesses in the Fitness industry with a spotlight on studios.