How have UK Gyms been affected financially during the Pandemic?
UK fitness businesses are just one of many industries that have been negatively impacted by the Coronavirus pandemic. The loss of monthly subscriptions and unused investments in COVID-secure equipment has been costly. On 12th April 2021, gyms were finally able to reopen in England with the expectation that further business disruption will be avoided in the future.
One leading manufacturer of natural health supplements, Pharma Nord, has explored the damage to the industry. They estimate how these businesses have been affected in the past year and calculate their potential losses, and how we expect gyms to recover now that restrictions have eased.
Weighing up the costs
We can estimate the potential losses for UK gyms by understanding the number of gyms, fitness fanatics, and average subscription fees. As of December 2020, there were approximately 6,700 health and fitness clubs in the UK. There was also about 9.7 million people who were members of these gyms.
While fitness clubs can vary in price, the Money Advice Service suggests that the average membership fee is bout £40 every month. Meanwhile, gyms are given an extra boost during January. Health orientated New Year’s resolutions mean that 12 per cent of all new members join in the first month of the year alone. The third national lockdown in England means that this expected boost has been prevented.
Based on this rationale, we can estimate that gyms would typically make £388 million every month. With membership only now resuming, this money has been withheld from the now struggling businesses.
The price of lockdown
There have been three national lockdowns in England, with similar measures across the UK. Since the first lockdown, the British public has spent approximately eight months under restrictions which closed gyms in 2020 and 2021.
Consequently, it can be estimated that UK gyms have lost £3.1 billion of revenue since the start of the pandemic. With a surge in membership in January, it can be suggested that another £46.6 million is lost by the 1,164,000 people who we would have expected to join in January 2021.
These numbers are large sums of money, but since the first lockdown, this equates to £470,000 of lost revenue per fitness club. Equally, the cost of location rent, maintenance staff, and the investment into PPE and COVID-secure gym equipment mean that such losses will be maximised.
Gyms had been closed to protect the health and safety of the general population. However, the lack of physical exercise and the limitations on creating a healthy routine was limited. Gyms are essential for improving our personal health and fitness as restrictions continue to ease.
Saving gyms and our health
Exercise has been encouraged during the pandemic. While healthier people can experience less-extreme symptoms of the coronavirus, the effect of exercise on mental health is equally beneficial. However, for those who enjoy their weekly gym visit, the past year has been an abrupt disruption to their fitness routines.
Exercise has largely been completed from home to a similar quality, with some added support. While Joe Wicks has led the nation through his streamed exercise classes, running, cycling, and cross-fit exercises at home are also suitable. We can also use suitable health supplements to strengthen our bones and body frame while benefitting from a healthy and balanced diet to help boost your immune system and achieve your fitness targets.
For gyms, a return to normality is long overdue. And since 12th April, there has been a clear motivation to return to gyms and show our appreciation to club workers and owners. Until social restrictions are completely eased, gym owners should continue to take advantage of government schemes that can cover some of the costs involved with owning a business. With hope, the public will continue to support gyms now that they have reopened. We can now support our local businesses, boost our health, and experience activities that have been restricted for the majority of the year.
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