It's no secret that the fitness world changed in March 2020. With the arrival of the pandemic, gyms everywhere shut down, and fitness enthusiasts everywhere were forced to bring their workouts home.
It was difficult for both gym-goers and gym owners, the former losing access to workout equipment. At the same time, the latter had to close their business temporarily or quickly adapt.
One of the companies that benefited from the situation was Peloton, which sold a whole lot of their indoor exercise bikes and digital fitness subscriptions to people looking for a way to stay fit while isolating at home. But then, in late 2021, gyms began to reopen, and people began returning to their old routines. Since then, it has become increasingly clear that the Peloton boom is over. One fact became clear... people miss the live, in-person experience of being in the gym.
The Love Affair with Peloton is Over
According to the New York Times, people are finished with Peloton. While at the height of the pandemic, they were buying Pelotons for upwards of $2,500 - now they're reselling them for significantly less.
"The stationary bike's convenience made it a pandemic winner, but some former fans are done working out at home". - Holly Burns
And the losses haven't just been on the consumer side. Two years ago, Peloton's stock price was soaring. Recently the company announced losses of nearly $440 million and layoffs of 20% of its workforce. Peloton couldn't compete with the benefits of the in-person fitness experience offered by going to a gym or fitness studio. This isn't to say that Peloton isn't a great product. Still, these trends illustrate the importance of the in-person experience.
Eat The Frog Fitness uses a Brick and Mortar Plus strategy. They understand that technology adds the convenience that many members are looking for but that it does not replace the community and accountability that working out in a studio can provide. Eat The Frog combines the best of in-studio experiences and the conveniences of digital technologies to support members. Flexibility, convenience, and personalization are vital in winning over members when looking at the trends emerging in the fitness industry.
Eat the Frog Becomes a Top Fitness Franchise
While Peloton is falling, Eat the Frog Fitness is on the rise. The brand has grown to over 30 franchises across the United States (even continuing to grow throughout COVID) with hundreds of franchise licenses sold. This expansion has been so rapid that Franchise Connect Magazine has declared Eat the Frog a "Top Fitness Franchise."
As a sign of the company's rapid growth, it has recently expanded into new markets like Texas, where several studios are set to open over the next couple of months.
Why has Eat the Frog found such an eager audience?
Personalized coaching combined with group motivation and accountability.
People like being around other people, especially when working out. On the one hand, they seek outstanding results from personalized training plans and one-on-one attention from coaches. On the other hand, they enjoy a sense of motivation and community from being around their fellow fitness enthusiasts.
Eat the Frog delivers on both points, offering group training combined with one-on-one coaching. This perfect balance between individualized attention and group fitness has pushed it to become a top fitness franchise.
24/7 convenience
One of the top reasons people stick to their workout routines and get results is convenience. Thanks to Eat the Frog's 24/7 operating model, members get precisely the convenience they're looking for. They can work out in live-coaches sessions, virtual in-studio sessions (no coach), and at home with their On-The-Go workouts.
With a tech-driven studio experience, members benefit from working out whenever it best fits their schedule. Owners also benefit from greater flexibility in staffing during peak hours and running the studio staff-free during quieter hours.
A renewed dedication to health
Studies have shown that more and more people are emphasizing their health in the wake of the pandemic. At the same time, lengthy lockdowns have pushed them to seek out more communal experiences.
Eat the Frog is perfectly positioned to capitalize on these trends with its proven training methods and a strong sense of community. It's no wonder it's boomed to become a top fitness franchise!
The Great Resignation
One much-discussed recent trend has been "the Great Resignation," by which scores of people quit their unsatisfying jobs to become their own boss.
Thanks to Eat The Frog's flexible operating models and the historically low SBA loan interest rates, many new entrepreneurs are deciding that now is the perfect time to own a fitness studio. As a result, Eat the Frog franchises have been opening up all over the nation.
Bottom line: Peloton is falling because more and more people want to return to the gym, and Eat the Frog Fitness is on the rise.
In other words, now is the perfect time to own a fitness studio, be your own boss, and help lead the Eat the Frog Fitness revolution. Whether you're a long-time entrepreneur or a new entrepreneur joining the Great Resignation, it is the perfect time to invest in your future.
TO LEARN MORE ABOUT OWNING AN EAT THE FROG FITNESS STUDIO IN YOUR AREA, VISIT FROGFRANCHISE.COM.