Over the past 20 years, the German fitness industry has undergone major changes. In the first ten years, providers from the so-called medium segment made up the largest part of the respective top 10. In 1999, Swiss Fitness was the only representative with a discount-like offer. However, in particular the discount segment developed steadily and, especially since around 2010, new low-cost providers joined the ranks. Since 2015, these have clearly dominated the ten largest operators in terms of facilities and members (currently with over 900 facilities or around 70% of the facilities).
At the same time, however, an increasing diversification of individual providers can be observed in recent years. While regional operators such as Just Fit or the Pfitzenmeier Group, with its Premium Clubs/Resorts, VeniceBeach and FitBase brands, have been covering various offering segments at the local level for some time, nationally active operators have also expanded the range of club formats in recent years: After Fitness Company became Fitness First in 2009 and the offer was to be positioned more strongly in the premium segment, the group also expanded its portfolio through acquisitions such as Elbgym or smile X. All three brands are now part of the LifeFit Group, which also includes other club formats such as Barry's, pure barre and The Gym Society. Since the company's founding in 1997, Rainer Schaller led McFIT to market leadership in the discount segment and ultimately in the market as a whole. Today, McFIT is one of several brands in the RSG Group, which includes High 5, John Reed, John & Jane's and, since this summer, the American Gold's Gym.
Investors have repeatedly influenced the development of the Top 10. As early as 1999, TC Holdings was part of an international fitness chain and financed by Banc Boston Capital, among others. With over 50 facilities, the provider was the market leader, but went bankrupt three years later. Starting in 2005, the private equity investor Waterland, together with the Dutch HealthCity Group, developed from Future Sports and Karstadt Fitness what later became the top 10 provider HealthCity in Germany. The expansion of jumpers fitness began with the takeover by NORD Holding in 2013 and resulted in the merger with Ai Fitness this year, from which the BestFit Group emerged. The entry of the amusement arcade operator Schmidt Group helped FitX to grow into one of the leading operators in the low-price segment.
As the case of TC Holdings shows, the involvement of foreign institutions was not always crowned with success. Other players that have come and gone include 24 Hour Fitness, Healthland and Elixia. Of the operators currently in the top 10, three are owned by international companies: Migros Group (Injoy, ELEMENTS), Kieser Training and LifeFit Group (Oaktree Capital).
Especially against the background of the current pandemic and the associated economic consequences, in particular for fitness operators, it is to be expected that the consolidation of the market will continue and that even the largest operators can gain further importance.
We will report ...
Source: edelhelfer-Analysis, Company information