Mission Control

VERVE Fitness - Australian Market Intelligence

Connected

Australian Market Overview

Market Size

$1.2B

+5.8% CAGR

Commercial Segment

$680M

57% of market

Home Segment

$420M

-15% YoY

AU-Made Preference

67%

+23% increase

Australian Competitors

Iron Edge

18%

Melbourne • $25-35M

Premium commercial + home

Compound Fitness

12%

Gold Coast • $15-20M

Boutique/strength focus

Sumo Strength

10%

Perth • $12-18M

Budget to mid-market

Gym and Fitness

22%

Melbourne • $40-50M

Mass market retail

AlphaFit

5%

Brisbane • $10-15M

Premium AU-made

Vulcan Strength

6%

Adelaide • $8-12M

Industrial/commercial

Market Trends

  • ↑247 new gym facilities opened in 2024 (+18%)
  • ↑Boutique fitness boom in Queensland (+12%)
  • ↑Equipment spend $850/sqm (+12% annually)
  • →24/7 gyms: 34% of market share

VERVE Positioning

  • ✓Broader range than Compound Fitness
  • ✓US expansion experience
  • !No WALGA govt access (Compound has this)
  • !Smaller dealer network vs Iron Edge