You are watching: Are gyms closing because of coronavirus
Covid-19 has thrown the gym industry into a tailspin, wreaking havoc on few of the best names in fitness consisting of Gold's Gym and 24 Hour Fitness, which both had actually to paper for bankruptcy protection.
Planet Fitness likewise has had actually to close up door its doors for months however unlike that rivals, the company is poised to sprint past the competition once the pandemic ends.
Gyms were forced to shut down in in march 2020 to try to curb the spread of Covid-19, crippling the fitness industry, which is a $32 billion market in the U.S., with much more than 41,000 gyms and 64 million members. In part states, gyms were among the critical businesses permitted to reopen.
Before the coronavirus pandemic hit, planet Fitness report 53 consecutive soldier of positive same-store sales growth. But analysts say that without the rollout that a vaccine, it might be till the end of 2021 prior to the agency reaches pre-pandemic levels of profitability. The firm has not provided any guidance on its company for the rest of the year.
So despite the dire situation in the gym industry have the right to Planet Fitness actually come out ahead? and also what does society distancing average for the future of functioning out?
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