This Stationary Bike Brought Down a Golden Gym Empire

In case you’ve been out of the loop the last few days, a lot has happened in the fitness ecosystem. A gym juggernaut has officially fallen from grace as other virtual health and fitness practices have seen massive growth in membership.

Gold’s gym filed for bankruptcy after experiencing what CEO Adam Zietsiff called, “a complete and total disruption of every one of our business norms.” Gold’s was hit hard after the Coronavirus closed gym doors around the globe—including the 700 from the Gold’s corporation. 

As a result, virtual coaching brands and operations quickly snatched up all the fitness junkies, converting them to home gym practices and online video instruction.

Who stole all the Gold’s members? 

One brand that has seen record numbers is Peloton–the fitness platform you’ve probably seen in a recent Instagram ad. This month, they hit a record high of 2.6 million members, doubling their membership over the course of the COVID-19 pandemic.

Peloton had its focus set from the beginning. With a mission to empower people to be the best version of themselves anywhere, anytime, they took the unique approach of bringing the gym to the people, not the people to the gym.

This change is not exclusive to Peloton as many health and fitness brands we’re already implementing virtual coaching into parts of their business. Nike Fitness Club was created in 2009 to give Nike customers a more personalized fitness experience. Les Mills, a program partner with Gold’s, switched their notoriously popular bodypump workouts to digital in 2015 and has seen massive growth in membership over the last five years.

What does this all mean for you? 

The answer is pretty obvious—get online. The world of health and fitness is experiencing seismic changes that are shaking the foundations of coaching. Clients are more specific, coaches are more educated, and all of it is happening in the digital sphere.

The future of health and fitness coaching is in a new stage and you have the opportunity to build your own brand that could be the next Les Mills—you just have to step in and step up.

We at SPRNG know a thing or two about scaling virtual training practices and want to help you bring your dream coaching business to life. If you’re still in the beginning stages of building your brand, check out our series on building a profitable health and fitness brand.

If you want to get your paws on some serious coaching content, sign up for our SPRNG Accelerator and learn from the pros–the Accelerator is for coaches who are ready to stop trading time for money and massively scale their programs. See you there.

Leave a Comment