Last Updated: 02 September, 2024
The online fitness industry is anticipated to grow exponentially in the next ten years. The global online fitness market was valued at $14.9 billion in 2022 and is expected to reach $250.7 billion by 2032, growing at a CAGR of 32.7% from 2023 to 2032. Nowadays, individuals are immensely concerned about their fitness and are considering online fitness membership platforms. They want to subscribe to the memberships, for consistency and long-term commitment to their fitness goals.
This scenario indicates a huge opportunity for entrepreneurs interested in entering the online fitness industry. By launching an online fitness membership platform you can reach a massive audience that is seeking virtual fitness training.
If you want to successfully enter the online fitness industry, then you need a solid action plan. Therefore, to help you out, we are covering business models, popular platforms, features, and how you should build an online fitness membership platform in this blog.
The admin launches the platform connecting fitness trainers with fitness enthusiasts (clients). Diverse classes ranging from pilates, yoga, strength training, dance, and martial arts can be offered through this online fitness membership platform. Here is the business model of an online fitness membership platform:
So, this is the business model of an online fitness membership platform. Next, let’s know about major industry players in the online fitness industry.
Many startups and brands are trying to disrupt the fitness industry with their online fitness membership platforms. Here are the major ones across the globe:
A popular online fitness membership platform is revolutionizing the fitness and wellness industry by bringing fitness experts together into one platform.
Revenue: Estimated annual revenue is currently $105.8 Million per year
Total Funding: Total funding is $549.2 Million
This online fitness membership platform provides an engaging experience while training the clients at their own pace.
Revenue: Estimated revenue is $295.5 million per year
Total Funding: Total funding is $ 580 million
This unique online fitness membership platform offers diverse fitness sessions specifically for women. This platform is popular for offering one-on-one, group, and teen sessions.
Revenue: Estimated annual revenue is currently $4.7 million per year.
Total Funding: Total funding is $15 million
FitReserve is a popular online membership platform that allows clients to get in-person, live-stream, and on-demand workouts from the top studios and instructors.
Revenue: Estimated revenue is $5.2 million
Total Funding: Total Funding is $19.4 million
Obé Fitness is a popular online fitness membership platform that caters to women’s workout needs. They offer personalized training sessions for every stage and fitness level, all taught by expert fitness trainers.
Revenue: Estimated annual revenue is $16.2 million per year
Total Funding: Total funding is $15 million
Enough said about the business model and big players. Time to jump right into the website features that can make a world of difference!
Features play a crucial role in the success of an online fitness membership website. It streamlines business operations and enhances the efficiency of your platform. Moreover, these features facilitate communication, streamline session booking, and more. Let’s see what you need to ace your online fitness membership website.
Your fitness startup needs to communicate instantly to get clients and make smart use of action buttons and links to inner pages. Every section on the homepage should introduce visitors to the advantages of signing up. Of course, there has to be a quick sign-up form and login button on the homepage.
Search functionality is important to help users find the fitness instructors as per their requirements. Add diverse filters enabling clients to conveniently search and choose the instructors they are looking for on your website.
It is very important to effectively list instructors on your online fitness membership platform describing the type of services, session types they offer. Also, mention the work experience, membership/session booking fee, availability, and more. This lets users find what they are looking for conveniently. Moreover, visual media like videos and images can be used to make such pages more engaging and help visitors with decision-making.
Registered users are important for every online venture, whether dealing in product or service. So, you need an easy sign up process that doesn’t drive above interested users. Gathering information such as name, gender, and email is obviously important to create an account. The next step can include payment related details.
Multiple payment options streamline the financial transactions for users on the platform. It enables clients to make payments online through their mobile or desktop devices using various modes such as credit/debit cards, e-wallets, or net banking. This feature offers convenience and flexibility to users on the platform.
Give members the power to manage their information and update personal details quickly. This includes Membership Details, Profile, Contact Info, Card information, Password, and Emergency Contact, and others. Account section cannot afford to be complicated in nature because users of all kinds will depend on it to manage their accounts.
Enable users to seamlessly book and schedule online sessions on the platform. With functionalities like calendar availability, clients can book and schedule the sessions as per the availability of the trainers.
Ratings and reviews allow the clients to provide feedback for the trainers and sessions on the platform. Moreover, positive ratings and reviews can attract more clients on your platform, enhancing the credibility of your online fitness membership platform.
As a new fitness membership site, you would require as much marketing mileage as possible to script your success. From blog layout to social media integration, make everything work like a dream. Focus on:
Don’t run a blog just for the heck of it. Care enough to share interesting posts and insightful content.
Because new users will have queries, make provision of an extensive Help section including FAQs. It will not only answer a vast range of questions but also help you link relevant pages through internal linking to guide visitors in the right direction. This can turn out to be very beneficial in answering common as well as complicated queries about website features.
After knowing about the business model, popular online fitness membership platforms, and essential features, the next step is to gain knowledge about how you can build your own online fitness membership platform.
There are primarily two ways to build an online fitness membership business, first, by building your online fitness membership platform from scratch, second, by opting for ready-made software to launch your online fitness platform. Let’s know about these development approaches in detail.
A popular software to launch your online fitness membership platform is Yo!Coach. This software solution offers all the essential features and capabilities to seamlessly run an online fitness membership platform. Moreover, it comes pre-integrated with essential APIs to enhance the capabilities of your online fitness membership platform. It is customizable and can be customized as per the needs of your fitness membership platform’s requirements.
Key specifications of Yo!Coach include:
Online fitness membership platforms will be in huge demand in the coming years. Cater to this demand by building a successful online fitness membership platform. The information shared in this blog will help you kick-start your entrepreneurial journey seamlessly.
All innovation starts with an idea to solve real-world problems. At FATbit Technologies we are passionate about driving digital transformation to prepare businesses for a digital-first tomorrow. Let’s discuss your BIG idea NOW.
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Comments (3)
Roosevelt Lewis
FATbit Chef Post author
http://coleen1leon33.soup.io
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