Of the 39 health clubs that have submitted their forms for Club Industry’s annual Top 100 Clubs list so far, 82 percent had revenue declines of 30 percent or more in 2020 compared to 2019. The largest decrease reported so far was 70 percent for a company with clubs in Illinois and Indiana.
Only seven companies reported less than 30 percent declines:
- 3.5 percent decrease (a club chain in Florida and Georgia)
- 9 percent decrease (a club in Tennessee)
- 10 percent decrease (a club chain in Arizona)
- 12 percent decrease (a club company in Minnesota)
- 27 percent decrease (a club in Oregon)
- 29 percent decrease (a club company in Arkansas)
- 21 percent decrease (a club in Ohio)
Eighty-two percent of the companies that have submitted so far project revenue will increase in 2021 compared to 2020. Projections vary widely from 3 percent increase on the low end to 325 percent on the high end. One company predicted 2021 revenue would be down 23 percent from 2020, two companies predicted revenue would be flat and the others did not provide an estimate.
Club Industry is still collecting forms for the Top 100 Clubs list, urging health club operators who in 2019 may have had revenue of $5 million or more to submit their form. The list will be based on 2020 revenue. The form should be completed by the owner, CEO, COO or CFO.
“This year’s list is more important than ever because it will show how the COVID-19 pandemic and mandated shutdowns of health clubs impacted the industry and could help show Congress why it needs to pass the GYMS Act, a bill that would offer financial relief to the fitness industry,” said Pamela Kufahl, director of content for Club Industry.