It seems the over 65s are not retiring to a life of leisure. Over the past 3 years pensioners setting up their own fitness and health clubs has increased by 25% according to research from Barclays Business, this accounts for 5% of total health & fitness clubs. In the United Kingdom the small to medium enterprise sector (SME) has seen health and fitness related businesses grow by 37% since 2012.
Adam Rowse, Head of Business Banking at Barclays said: “The UK health & fitness industry is dynamic and we are currently seeing SMEs come to market with innovative ways to keep the nation fit.” He continued “Our data also shows that health and fitness is not just a preserve of the young, with an increasing number aged 65 and over demonstrating that it is never too late to set up on your own. It is also encouraging to see a rising level of female entrepreneurship in the sector.”
The UK average for female SME ownership is around 38% but in the health an fitness sector this has risen dramatically to 52%.
With increasing pressure on the National Health Service (NHS) to provide better services, the rise in interest in personal health and fitness is welcomed. The UK’s health & fitness trade body, Ukactive, Executive Director, Steven Ward, said: “These findings show once again that wellness is quickly becoming one of the key drivers of the UK economy, with physical activity at its heart.
The findings also reveal that there has been an increase in health conscious consumer spending. Statistics published by Leisure DB show that the 1 in every 8 people in the UK are members of a gym, an all-time penetration rate high of 13.7%. The total market value (public and private sectors combined) is estimated at £4.3 billion, up 5.4% on 2014.
