Updating the Contemporary Business Model for Fitness Market

The fitness industry was severely impacted by the COVID-19, a disease that threatened the world's wellbeing and the global economy. The temporary closure of fitness facilities due to COVID-19 convinced many fitness operators to change their business strategy. The topic of this research has been chosen due to its great importance for the fitness industry and the positive effect it has on society. The objective of this research was to collect and compare statistical data and related qualitative expert recommendations applicable to most of the fitness clubs for implementation in their business model during the times of COVID-19 and beyond. The qualitative approach to research was applied to address the research questions and objectives. Secondary data was acquired from world-renowned sources such as IHRSA, ClubIntel, EuropeActive, LesMills, Technogym websites, and reports. The data was analyzed using the content analysis method. Business Model Canvas was selected as the theoretical framework which guided the data analysis and collection. The results provided insights into the present and future trends within the fitness industry for clubs’ consideration and strategic changes they can implement based on the research, which were presented within the Business Model Canvas framework. Among the most significant issues for consideration that the research brought up were the rising influence of Millennials on the market, the need for developing streaming and on-demand content by the clubs, and greater transparency and consistent communication with club members. The applicability of the results has some natural limitations since generalizations of findings, and their business applicability should consider the resources and context of a clubs operating in the fitness industry. Recommendations for further research suggested exploration of one market within the fitness industry, prediction of actions of consumers after the pandemic, expanding the research reach through additional sources of data (inter- views, webinars)