The largest growth in the fitness industry
is coming from individuals 45 years of age
and older. As baby boomers age they are embracing
fitness as never before. It is becoming clear
that for younger people, a regular fitness
program is optional, for older adults it is
imperative. (Mike Martin)
According to Deutsche Bank research, ".there
are not enough clubs to serve the growing market
of aging baby boomers...Building more clubs
will
be a necessity to meet the growing demand."
IHRSA's Guide to the Health Club Industry
for Lenders & Investors states,
".from 2002 to 2012, there is reason to believe
that the health club
industry will be buoyant"
The largest growth in fitness club memberships
has come from individuals
45 years of age and older.
Shorter workouts are the top fitness trend
predicted for 2004 by the
American Council on Exercise, the leading organization
that certifies fitness
instructors.
We're seeing an anti-aging phenomenon unlike
any in history according to
Dr. Ken Dychtwald, a gerontologist and president
of Age Wave.
More than half of the 33 million Americans
who go to health clubs are over
40 years old. (SGMA International)
34% of U.S. adults are overweight (68 million
people) 27% of U.S. adults
are obese (54 million people)
50+ Demographic Statistics
The wealthiest, fastest growing population
is the 50 plus market. This is one of our focused
target markets.
People over the age of 50 represent nearly
40% of the adult population. They have outstanding
demographics.
Personal Wealth
Control 77% of all personal wealth.
Have 60% of all discretionary income.
Own 80% of all savings and loan deposits.
Earn twice the income of those under 36.
More than 80% own their home.
50% have no mortgage.
Buying Power
Own 55% of RV's.
Own 65% of all luxury cars.
Spend more per capita at the grocery store
than any other age group.
Spend more on quality children's clothing
for their grandchildren than the
parents do.
Fitness & Healthcare
Spend more on health and personal care products
than any other age group.
Purchase 77% of all prescription medicines.
Purchase 61% of over-the-counter drugs.
Account for 40% of all spa/health club memberships.
More than 50% of the men are in some sort
of sports or athletic activity such
as golf, fishing, or boating.
The 50 + market is vibrant and looking for
new ideas, challenges, and
innovative ways to enjoy life. The 50+ age
group are willing to spend the
time, money, and energy to capture the American
Dream. Thanks to Social
Security, wise investing, and good retirement
plans, they have the money to
pay for what they want. Most over 50 want what
you want: health,
happiness, and security. Many also want excitement,
romance, adventure,
and close relationships with their children
and grandchildren.
