during the pandemic Studio B Fitness YEG South Edmonton suffered financially. Co-owner Megan Clarke was optimistic when everything reopened.
Instead, Whitemud Crossing’s boutique fitness center faced another challenge. inflation.
“Every other expense, like gas and food, people just don’t have the money for,” Clark said.
“Boutique fitness, in particular, is expensive and runs in small classes, so we don’t have that kind of income right now.”
Headline inflation in Canada eased to 6.9% from a peak of 8.1%, but costs such as food still accelerated.
At the same time, the Bank of Canada has raised interest rates by 350 basis points in just seven months. This is his one of the sharpest tightening campaigns ever to push inflation back towards the 2% target.
‘Everybody’s nervous’ as Canada faces high inflation, rising interest rates: experts
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Clark said he’s started seeing more clients come back as pandemic restrictions are a thing of the past, but business hasn’t taken off.
“I think one after the other, especially the gas bill. If you’re not five to ten minutes away, the cost of getting to and from a workout no longer makes sense.”
Clark also points out the cost of just keeping the door open. Utilities have gone up, and so has the cost of the software you use in your business. They had to increase their fees to cover overhead costs.
Clark said they offered discounts to get more members, but it makes no difference.
“If you lower the price, people won’t come. You just give a discount to those who have already come, it’s kind of circular.”
Clark believes boutique fitness centers are struggling the most.
Global News spoke to other gyms who say membership sales are doing pretty well.
Denise Gardner, regional sales director for GYMVMT, said gym memberships across the state have increased to almost pre-pandemic levels.
“People really wanted to go back to that gym and be part of that community,” Gardner said.
“What we have seen is people making high priority spending decisions elsewhere and prioritizing fitness at a much higher level.”
Gardner said GYMVMTMore The location is a full-service commercial gym that offers strength training and numerous fitness classes.
Group fitness and personal training businesses were hit by the pandemic, but recovered despite having to raise prices “slightly” due to inflation.
“There is a lot of interest back in our group fitness programs and personal training services are really coming back.”
breath fitness Personal trainer Nicole Lark says she’s seen memberships stabilize over the past few months. She also needed to raise prices, but that doesn’t seem to be a deterrent.
“People felt the negative effects of being inactive. When something is taken away, you realize how important it is to you or how much you value it. I will,” said Lark.
She’s shown more interest in personal training since restrictions were lifted than she did pre-COVID.
“Instead of compromising on working out, I think they’re looking for other areas of their lives that they don’t value as much.”
Some people adjusted how often they went or found a paying partner.
“Some clients ask me to come for three to two sessions a week, or 45 to 30 minutes,” Lark says.
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