The Leisure Database Company has announced plans to launch a new Market Monitor service designed by the industry for the industry.
The service will provide operators with valuable performance indicators for benchmarking across the whole industry. Furthermore the amalgamated data would be available to brief wider audiences, such as Government, investors, media or sponsors, on the success and development of the fitness sector.
Dr Melvyn Hillsdon of Bristol University has agreed to be the academic advisor to the Fitness Market Monitor and will be overseeing the data analysis integrity.
The FIA supports the new service for the industry. Andree Deane, Chief Executive of the FIA, states “The Market Monitor is an important initiative for the industry. It will improve our knowledge and understanding of our own sector and help operators make decisions about their business based on validated market intelligence.”
David Minton, Director of TLDC, says “The aim of the Market Monitor service is to engage the whole industry and will therefore provide operators with distinct benefits. By including all sectors and types of operation, the monitor will be truly representative, inclusive and robust. This is why we are embarking on a major collaboration process to understand how the service could bring most value to operators.”
The industry currently measures performance in different ways with different definitions of the metrics. Through the new Market Monitor there exists an opportunity to establish a common set of criteria on which to measure, benchmark and express performance. Nigel Wallace will be guiding the set up of this new service for the fitness industry on behalf of The Leisure Database Company.
The Leisure Database Company currently collects data from operators across the industry on a range of facility and membership areas, demonstrating their capability in collecting data across the industry sectors. The new Market Monitor service is likely to gather further industry information on additional operational and financial ratios; total members, leavers and joiners; revenue breakdowns and key yield ratios.
Operators are being invited to get involved and help shape this important initiative by commenting on the proposed Fitness Market Monitor metrics and reports through the consultation document which can be downloaded below.
Contacts:
DAVID MINTON, Director, The Leisure Database Company, 33 Bedford Street, Covent Garden, London, WC2E 9EJ.
Tel: 020 7395 6179 or mobile 07860 237008. Email:
david@theleisuredatabase.com.
NIGEL WALLACE, Project Leader, The Leisure Database Company, 33 Bedford Street, Covent Garden, London, WC2E 9EJ. Tel: 07717 745771. Email: nigel@theleisuredatabase.com
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