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“Microgyms” Gaining Investor Attention Amid the COVID-19 Pandemic

  • Microgyms have grown in popularity during the COVID-19 pandemic, gaining the attention of investors
  • Smaller fitness centers have appealed to people seeking a safe workout experience
  • The concept emerged several years ago as a way of offering more personalized service and community

The concept of a small footprint fitness center is not new, but the idea has gained new traction during the COVID-19 pandemic.

Bloomberg recently looked at Silofit Inc., a Canadian company that repurposed a small office space to a gym that could be rented by the hour for fitness trainers or small exercise classes. While the company was still subject to pandemic-related restrictions and lockdowns, it was soon able to reopen for two-person sessions while larger gyms remained closed. Silofit Inc. has since started opening new locations and gained the attention of venture capitalists.

“Microgyms” emerged several years ago, offering potential advantages such as more personalized service, a stronger sense of community, and better integration with smartphone apps and other technology.

During the pandemic, microgym owners made the case that they should be allowed to reopen sooner than their larger competitors, arguing that it was easier for them to keep the space sanitized and maintain proper safety protocols. Larger gyms have also embraced the microgym concept to some degree during the pandemic, setting up workout “pods” and personalized sessions to remain operational while still meeting safety protocols.

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