MONEY MATTERS IN HEALTH &TECH : Keep fit and make money at the gym

You might be one among millions of people who are obsessed with either doing fitness exercises or making effort to lose weight.

We now see a growing focus in the society on health issues, especially fitness and gym in form of social media campaigns and on many other platforms.

A lot of fitness clubs are being informally established in cities like Dar as salaam, Mwanza, Mbeya and others. Gyms are also increasingly being promoted as a business.

Despite the fact that entrepreneurs are taking advantage of the increasing demand for fitness and weight loss, there are also individual efforts by people in trying to move with the trend for the betterment of their health—this is a good sign.

In an entrepreneurial eye, this presents an opportunity to invest but for a person keen on his or her health, this means a lot in terms of increasing life expectancy and preventing Non-Communicable Diseases (NCDs).

Looking at this trend broadly, one will realize that the demand for fitness and weight loss is growing fast, globally.

In developed nations like United States, United Kingdom, Germany and so on, the fitness industry is estimated to make over USD30 billion per year. In Africa, South Africa is the leading nation in fitness industry.

Rapid economic growth, urbanization, and changing lifestyles due to the growing influence of western cultures and diets are amongst the factors responsible for growing demand of fitness and weight loss service in Tanzania.

This market targets middle class and that is why there are more gyms and weight loss services in town and cities compared to rural area. In fact, these services are expensive.

More and more Tanzanians--especially the urban residents, are becoming conscious of their health and fitness. This will always ignite the demand in fitness and weight loss industry.

Tanzanians now have a double advantage—to invest in their health as well as make a business——to present to you a platform to learn money matters in health and technology.

Fitness centers, commonly known as the ‘gym’, offer exercise equipment for physical exercises that focus on building muscular and cardiovascular strength.

There are also free weights, treadmills, stationery bikes and elliptical trainers. The services can be provided in groups or individually. Some modern gyms provide yoga; self-defense classes, spa/sauna services and sport facilities.

Gyms pay—both as a business venture and for personal health. On the business side, gym owners charge membership or subscription fee to use equipment, facilities and trainers. These fees could be charged hourly, weekly, monthly or on annual basis. This is an investment.

Yet, weight loss programs in some well-developed gyms are actually providing structure therapy that helps people slim down and lose weight.

Weight loss programs may include customized diets, exercising plans, counseling and supplements. Women are almost always good customers to this market although men are nowadays coming in.

If you were thinking of embarking on a weight loss plan or fitness programme, it’s high time you took action after reading this column.

But don’t forget to also take the idea that gyms can be a huge investment. All you have to do, make sure you plan your gym project strategically.

Make sure, if you have a business mind, that you target customers with a huge positive impact on the returns of your business.

The ideal place is in residential area or office area of a major city. The gym should also be accessible, convenient, with large car-parking area and 24/7 supply of water and electricity.

Be creative and innovative enough. Try hard to be on the lookout for the latest trends, fads and changes in the industry.

Have enough capital. Every successful gym has to continue purchasing equipment to keep up with the latest trends. The amount may vary depending on the size of the facility.

Do proper timing. Sit down and do a little research to know then expected flow of your clients.

The bad side of this market is seasonality in terms of customer flow. Marketing and advertising should also follow the trend.

A poor safety measures could lead to injuries even death. In case this happens will damage the reputation of your center.

Since it is more expensive to own personal gym equipment, it means that joining a gym, fitness center can be a good option. When we look at the general picture, the way the trend is happening at the moment, it is comforting to see that the future of fitness and weight loss industry in Tanzania is promising.