Specialist
C-level executive at Fitwell Advisors
Agenda
- Key trends and developments in the boutique fitness industry
- Re-opening dynamics and capacity constraint implications
- Competitive landscape and potential industry supply outcomes
- Near-term profitability challenges and long-term growth outlook
Questions
1.
Could you share 2-3 developments you’ve been tracking in the fitness industry?
2.
You mentioned that the real estate side has been slow to react. Could you expand on this and share your views on the landlord-tenant discussions that might be occurring? What concessions are landlords willing to make, especially if we look at the boutique segment?
3.
What other key metrics have you been monitoring in this market? Where do those metrics currently stand, and how are they informing your medium-to-longer-term outlook for the industry?
4.
What are your expectations for where freeze rates might stand for higher-end players? What’s your outlook for this metric specifically for players such as Equinox?
5.
What’s your perspective on how operators are approaching costs/CAPEX cuts due to the current environment?
6.
Could you highlight any key areas for spending increases, perhaps including equipment or marketing spend to attract new or returning members?
7.
Do you think productivity gains could be obtained from better monitoring of traffic and equipment usage or even dynamic pricing?
8.
Which fitness industry suppliers do you think are most to least impacted by the current environment across segments? Which could be most favourably positioned in a rebound scenario?
9.
Who would you say are the market share leaders and laggards in boutique fitness?
10.
Do you think some players will gain market share organically or via external growth, across the boutique vs value operators and the mid-tiers that are left?
11.
What are your thoughts on off-premise and the corresponding share gains in markets where boutique fitness players have been allowed to reopen? Do you think those gains are sustainable? Could off-premise hold that market share long-term, or is this a temporary phenomenon where consumers will revert to the on-premise channel from digital? What are the dynamics here?
12.
How could players such as Peloton continue to take share even after a COVID-19 vaccine comes out, given the merits around the cost and convenience of working out from home?
13.
What do you think gyms and other offline boutiques should do to respond to the threat from Peloton?
14.
How can Peloton go about retaining good instructors and preventing celebrity instructors from getting poached by competitors or starting their own ventures?
15.
Which gym, boutique fitness or online player other than Peloton is most willing and able to pay up for good talent, in your view?
16.
What do you think are the biggest challenges facing the boutique segment of the market vs other fitness players? Is there reason to believe boutique players are better or worse off relative to luxury, mid-tier or value players? How would you rank their positioning? What could play out over the next few months?
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