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Part
01
Competitive Landscape: LA Fitness, Life Time Fitness, 24 Hour Fitness
As indicated in the spreadsheet, LA Fitness currently has 705 fitness clubs, Life Time Fitness currently has 129 clubs, and 24 Hour Fitness has 430 clubs all around the US. LA Fitness and Life Time Fitness both targets individuals and families of all ages, while 24-Hour Fitness primarily targets women aged 25-54 years old, and men 25-54 years old.
COMPETITIVE LANDSCAPE: LA FITNESS, LIFE TIME FITNESS, 24 HOUR FITNESS
1) LA Fitness
A) Company Overview
- LA Fitness is an American fitness club chain which was founded in Southern California in 1984.
- LA Fitness currently has over 10,000+ employees all around the US.
- LA Fitness continues to increase and expand their state-of-the-art clubs around the US continent in order to focus on the "one lifelong benefit valued by everyone: good health."
B) Number of U.S. locations
C) Pricing
- $19.99 per month, $175 initiation fee; or $29.99 per month, $75 initiation fee.
D) Competitive advantage
- LA Fitness set themselves apart from other competitors by providing additional services such as racquetball courts, full sized basketball courts, a variety of fitness classes, sports leagues, and several other amenities, aside from their usual gym amenities, in every club in the US.
- Diversity of their locations so that every LA Fitness locations are accessible for everyone.
- Their appeal to many age groups, from children as young as 12 year old to senior groups with their SilverSneakers program.
E) Target audience
- LA Fitness, together with their wide range of amenities and trained staffs, gives multiple number of workout services and options to family members of all ages and interests.
2) Life Time Fitness
A) Company Overview
- Life Time is a privately held comprehensive health and lifestyle company, which was founded in 1992 in Brooklyn Park, Minnesota, by CEO, Chairman and President Bahram Akradi.
- Life Time currently has 32,000 employees, and 10,500+ fitness professionals/coaches in the US.
- Life Time is committed to a health and happy life for their members by providing unparalleled athletic lifestyle resorts that go beyond fitness.
B) Number of U.S. locations
C) Pricing
- Standard: $29 Joining Fees, which includes standard enrollment, onboarding session, and 1 month of group swim lessons for kids.
- Stronger Together Bundle: Up to $380 of enrollment value, which includes onboarding session, 1 month of group swim lessons for kids, one personal training session, and 150 LT BUCK$.
D) Competitive advantage
- Life Time Fitness' competitive advantage are their focus on services, amenities, and value, and their comprehensive product offerings, which helps them have top position in the health and wellness industry.
E) Target audience
- The target audiences of Life Time Fitness are individuals, couples and families of all ages.
3) 24-Hour Fitness
A) Company Overview
- 24-Hour Fitness is a health, wellness, and fitness company based in San Ramon, California, and founded in 1983.
- 24-Hour Fitness is a leading fitness industry pioneer with about 4 million members and more than 11,000 employees all around the US.
- Their mission is to help people all around the US improve their lives through fitness.
B) Number of U.S. locations
C) Pricing
- Pricing varies depending on locations, access level, and payment plan chosen.
- Access levels are Multiple Clubs and One Club only.
- Payment plans are Basic Monthly Payment Plan, Commitment Monthly Payment Plan, and Limited Term Prepaid.
- In addition to monthly dues, members will be charged an annual fee worth $49.99.
D) Competitive advantage
- One of the competitive advantage of 24 Hour Fitness against its competitors is their diversity. They treat team members, guests, members, and all people with respect, fairness, and dignity, which then leads to the attraction of the best talents and members from the broadest range of people.