Last year, the health and fitness industry was growing at a large scale globally and reached at a revenue of $100 million. Healthy lifestyle is not only one’s privilege but a right to opt for.

But COVID-19 reshaped the entire world. The virus has shown its results and the situation got worse day by day. Governments across the world are taking strict measures such as strict lockdown and quarantine to control the spread of this virus. Social distancing is a must for every person.

Gym Closure Due To COVID-19 Outbreak

Gym is a public place where people gather for a workout but it’s not advisable to go to such places nowadays keeping the safety in mind. This is because the equipment one uses is touched by so many people and might not be properly sanitized. Question is coming in everyone’s mind that if gym’s reopen, then whether it will be safe to go or not? But, we all are aware of the fact that physical contact is not the only reason behind coronavirus. 

Epidemiologists have warned people that they might lose their health due to group gatherings. Coronavirus killed so many people in the United States. Fitness industry has been temporarily closed all around the globe during this crisis time. Entrepreneurs keep on thinking about how many members can be served at a time.

What Happened to Gym and Fitness equipment during COVID-19?

In this troubling situation, many fitness industries have started renting their equipment in order to fix the issue.

We all are aware of the fact that coronavirus has affected so many people. That’s why people have started watching fitness classes online and tried to remain in shape during this period as well.For more, you can refer here : https://www.straitstimes.com/sport/coronavirus-fitness-equipment-in-hot-demand-as-circuit-breaker-brings-sports-to-a-halt

Some countries have dealt with the extreme situation of Coronavirus and the owners who are requesting for reopening have been provided with funding.

Business Model Of Fitness Equipment Industry

If people are not equipped with equipment like resistance bands, cycling bikes, weights, treadmill etc. at home, then it might be difficult to stay fit, that’s why launching an online multi-vendor gym and fitness tool rental marketplace is a best online business idea.

Take a look at this graphic to know how gym and fitness rental marketplaces work.

You can implement both pick and delivery options to go as per your business needs. Safety is the foremost thing that needs to be kept in mind. If renters feel that the equipment they ordered is not fair enough, then a refund option needs to be available. 

Revenue Model of the Fitness Equipment Industry

According to the statistics, the fitness equipment market was expected to reach $15.2 billion by 2027. Become more smart and creative. 

Vendors can list their equipment on your equipment rental eCommerce website. Marketplaces can offer discounts and free shipping so that people can take an advantage of it. This will lead you to carry on with your rental marketplace journey. Also, creating an online gym and fitness equipment rental marketplace will be a great way of making money. 

Key Players In Gym Equipment Rental Market

It’s time for a new start. Gym and fitness industry have been adversely affected by COVID-19 outbreak. Businesses are trying hard to resume. Some of the major key players in this marketplace are A.E.S. Fitness, FitDel and many more. 

How To Choose a Fitness Equipment Rental Marketplace Software?

Launching an online gym and fitness equipment rental business might appear to be a daunting task in the initial stage. But as you move ahead in this industry, you will touch the pillars of success. You need to create a website that is well-equipped and attractive to the user 

Conclusion

The demand for fitness equipment on rent has been increasing during this pandemic period. So, I would say that launching an online gym and fitness equipment rental business will be a great thing. 
Software like YoRent helps in building such a rental marketplace. This turnkey marketplace solution has user equipped features that helps to create advanced features rich rental marketplace to rent and sell gym & fitness equipment online. If you want to launch an online gym & fitness equipment rental marketplace, go for Yo!Rent.