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Macro & Micro Analysis of the Private Gyms Market Sector

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Macro & Micro analysis of the private gyms market sector
As a group we conducted an analysis of the external market environment affecting the private gym market. Macro factors are “the number of broad forces that affect not only the company, but also the other factors within the micro environment” (Jobber 2012).
We used PESTEL to analyse the external macro environment.
Political/ Legal (Kemp): * Taxes – the business have to adapt to the changes in taxes. * Health and Safety – businesses need to keep up to date with regulations to reduce the chance of an injury claim.
Economic (Sophie M): * Inflation – is declining meaning consumers will have more disposable income to spend on luxury services such as a gym membership. * Interest rates and exchange rates – interest rates historically low 0.5% less people are saving, creating more opportunities for gyms
Social (Emily): * Influences in social media has created more of a health conscious society leading to more people wanting to go to the gym.
Technological (Sophie C): * Advancement in gym equipment enables customers to surf the internet, connect with other users, stream music, watch TV, monitor heart rate as well as put their personal data into machines to make their workout tailored and personal (World Gym)
Environmental (Shuaib): * The weather and the “Being Green” scheme are both external influences which will determine the success or failure of the business in terms of sales and competitive advantage.
Mirco factors are the factors in a company’s immediate environment that affect its capabilities to operate effectively. * Customers: * Changes in attitudes towards health and fitness have created a larger target market * Competitors: * Newest technology is being offered to keep up with their competitors * New Entrants: * New companies are always…...

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