Founded by two Chicago fitness experts, Shred415 now is one of the most popular gyms in Chicago. It offers high-intensity workout class, made up of four 15-minute intervals alternating between cardio work on top quality Woodway treadmills and weight-training to provide calories burning and muscle building experiences (Shred415). As an emerging entrepreneurial company, Shred415 has to sell a distinct brand in the marketplace in order to survive and thrive in the fitness industry. After conducting extensive research on the fitness market, I believe Shred415 can take advantage of several current trends to differentiate itself and increase market share in a competitive environment.
Fitness Industry Background
The number of U.S. fitness studios memberships has rapidly increased since 2000. Now North America has the largest membership base for fitness centers in the world ( ). A recent research has pointed out that:
• 81% of Millennials (18 to 34 years old) exercise regularly.
• 36% of Millennials who are regular exerciser would consider joining a gym, compared to only 20% of the general population.
• 45% of Millennials were willing to try new exercise …show more content…
Also, the wearable technology sales grow from $20 billion in 2015 to almost $70 billion in 2025. By monitoring exercise intensity and tracking calories burned during exercises, wearable technology enables individuals to meet their fitness goals more efficiently. The smartwatch can also send reminders to users and allow users to share fitness results on social networking sites, which motivates users to implement their workout plans and thus increase the frequency of using health clubs. With the release of Apple Watch in 2015, this promising new trend is irresistibly developing, triggering more fitness clubs to combine wearable technology with their fitness
Fitness Industry Background
The number of U.S. fitness studios memberships has rapidly increased since 2000. Now North America has the largest membership base for fitness centers in the world ( ). A recent research has pointed out that:
• 81% of Millennials (18 to 34 years old) exercise regularly.
• 36% of Millennials who are regular exerciser would consider joining a gym, compared to only 20% of the general population.
• 45% of Millennials were willing to try new exercise …show more content…
Also, the wearable technology sales grow from $20 billion in 2015 to almost $70 billion in 2025. By monitoring exercise intensity and tracking calories burned during exercises, wearable technology enables individuals to meet their fitness goals more efficiently. The smartwatch can also send reminders to users and allow users to share fitness results on social networking sites, which motivates users to implement their workout plans and thus increase the frequency of using health clubs. With the release of Apple Watch in 2015, this promising new trend is irresistibly developing, triggering more fitness clubs to combine wearable technology with their fitness