Fitness Studios & Gyms Switzerland: 3.5–5.5× EBITDA, 1,285 Firms (2026)

1.0Market Snapshot

CHF 1.36bn: Revenue of Swiss fitness centres in 2025, up 4.4% (Swiss Active Eckdaten study with DHfPG and SAFS, May 2026).
1,285: Fitness companies in 2024 (BFS STATENT, NOGA 93.13). A chain counts once; Swiss Active counted 1,441 fitness centres in 2025.
12,631: Employees of Swiss fitness companies in 2024 (BFS STATENT), but only 5,793 full-time equivalents: most staff work part-time. Employment is up 48.3% since 2011.
+5.8%: Growth in fitness-centre members in 2025, to a record 1.45 million (Swiss Active, May 2026).

According to Val Index analysis of Swiss commercial-register and federal data (2026), the Swiss fitness studios & gyms market is worth CHF 1.36bn — Revenue of Swiss fitness centres in 2025, up 4.4% (Swiss Active Eckdaten study with DHfPG and SAFS, May 2026)..

According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 1,285 fitness studios & gyms companies — Fitness companies in 2024 (BFS STATENT, NOGA 93.13). A chain counts once; Swiss Active counted 1,441 fitness centres in 2025..

2.0Industry Overview

Market Scope

Swiss fitness is growing steadily. According to the Swiss Active Eckdaten study, 1.45 million people were members of a fitness centre in 2025 (+5.8%), there were 1,441 centres (+3.3%) and the industry earned CHF 1.36 billion (+4.4%); for the first time, people aged 20 to 29 were the largest member group. BFS counted 1,285 fitness companies with 12,631 employees in 2024 (STATENT), 48.3% more staff than in 2011, but only 5,793 full-time equivalents, because most trainers and reception staff work part-time.

3.0Industry Health Check (SWOT)

Internal factors

Strengths4

Record membership (1.45 million in 2025)→ §4.0

Weaknesses4

High fixed costs for rent and equipment→ §5.0

External factors

Opportunities4

Consolidation of independent studios

Threats4

Low-cost and 24-hour chains→ §5.0

Sector Outlook

DefensiveBalancedGrowth

4.0Key Trends

Record membership

5.8%

1.45 million people were members of a Swiss fitness centre in 2025, 5.8% more than in 2024 (Swiss Active, May 2026).

More centres, more revenue

3.3%

The number of centres rose 3.3% to 1,441 and revenue 4.4% to CHF 1.36 billion in 2025 (Swiss Active).

Migros stays in fitness

Movemi runs 139 Fitnesspark and Activ Fitness sites with 260,000 members and stayed with Migros during the group's 2025 divestments (Blick, March 2025).

International low-cost chains

PureGym, which took over Basefit.ch, runs more than 45 Swiss gyms with over 100,000 members (PureGym).

Younger members

People aged 20 to 29 became the largest member group for the first time in 2025 (Swiss Active).

5.0Cost Structure Benchmark

35%

25%

12%

13%

15%

Personnel35%
Rent and premises25%
Equipment and maintenance12%
Marketing, IT and other13%
EBITDA margin15%

Indicative split for a Swiss independent fitness studio, not a measured figure.

6.0Top Fitness Studios & Gyms Companies in Switzerland

Name	Location	Key Facts
Movemi (Fitnesspark, Activ Fitness — Migros)CHE-106.033.004	Zürich ZH	movemi AG: Migros's fitness company, registered in Zurich, formerly ACTIV FITNESS AG; it runs the Fitnesspark and Activ Fitness brands with 139 sites and 260,000 members (Blick, March 2025) and has absorbed Club Pleine-Forme, Silhouette Wellness, form24 and other local operators.
PureGym (formerly Basefit.ch)CHE-113.928.892	Volketswil ZH	PureGym AG: low-cost chain registered in Volketswil, formerly Basefit.ch AG, part of the British PureGym group; more than 45 gyms, over 100,000 members and over 200 employees (PureGym).
Kieser TrainingCHE-107.834.656	Zürich ZH	Kieser Training AG: strength-training company registered in Zurich; it has absorbed ActiForm AG.
update FitnessCHE-464.914.844	Münchwilen TG	update Fitness AG: fitness chain registered in Münchwilen (Thurgau).
NonStop GymCHE-411.704.389	Genève GE	NonStop Gym SA: fitness operator registered in Geneva.
Let's Go FitnessCHE-335.185.054	Lausanne VD	Let's Go Fitness SA: fitness operator registered in Lausanne; it has absorbed Let's Go Fitness Holding SA.
Holmes PlaceCHE-102.742.188	Oberrieden ZH	Holmes Place GmbH: premium health-club operator registered in Oberrieden, formerly Holmes Place AG.

Movemi (Fitnesspark, Activ Fitness — Migros)

CHE-106.033.004

Zürich ZH

movemi AG: Migros's fitness company, registered in Zurich, formerly ACTIV FITNESS AG; it runs the Fitnesspark and Activ Fitness brands with 139 sites and 260,000 members (Blick, March 2025) and has absorbed Club Pleine-Forme, Silhouette Wellness, form24 and other local operators.

PureGym (formerly Basefit.ch)

CHE-113.928.892

Volketswil ZH

PureGym AG: low-cost chain registered in Volketswil, formerly Basefit.ch AG, part of the British PureGym group; more than 45 gyms, over 100,000 members and over 200 employees (PureGym).

Kieser Training

CHE-107.834.656

Zürich ZH

Kieser Training AG: strength-training company registered in Zurich; it has absorbed ActiForm AG.

update Fitness

CHE-464.914.844

Münchwilen TG

update Fitness AG: fitness chain registered in Münchwilen (Thurgau).

NonStop Gym

CHE-411.704.389

Genève GE

NonStop Gym SA: fitness operator registered in Geneva.

Let's Go Fitness

CHE-335.185.054

Lausanne VD

Let's Go Fitness SA: fitness operator registered in Lausanne; it has absorbed Let's Go Fitness Holding SA.

Holmes Place

CHE-102.742.188

Oberrieden ZH

Holmes Place GmbH: premium health-club operator registered in Oberrieden, formerly Holmes Place AG.

Companies are listed when they are confirmed in the commercial register, have a significant Swiss presence in this niche and at least one sourced fact.

7.0Succession & M&A Context

Independents face chains

1.45m: fitness-centre members in 2025, +5.8% (Swiss Active)
CHF 1.36bn: industry revenue in 2025, +4.4% (Swiss Active)
139: Movemi (Migros) fitness sites (Blick, 2025)
3.5–5.5×: EBITDA deal multiples (ValIndex multiples table)

Hundreds of Swiss fitness studios are run by the people who founded them. As chains such as Movemi and PureGym grow, an independent owner who wants to retire can sell to a chain, to a local competitor or to a manager. Buyers pay for the number of paying members and their loyalty, the lease, the condition of the equipment and the location, and discount for churn, a short lease, dependence on the owner and nearby low-cost competition. ValIndex's multiples table puts fitness studios at 3.5–5.5× EBITDA in transactions and 2.5–4.0× on statutory valuations.

Market Pulse

Unlock full Fitness Studios & Gyms intelligence

Market trends, cost structure, key players, succession analysis and regional clusters for Fitness Studios & Gyms — free with Market Pulse, our monthly letter on Swiss deals.

Includes one letter a month on Swiss deals. Unsubscribe anytime.

Valuation Snapshot

Fitness Studios & Gyms business valuation in Switzerland

Statutory Multiple (EBITDA): 2.5 - 4.0×
Deal Multiple (EBITDA): 3.5 - 5.5×
Market Trend: Rising

Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.

8.0Regional Clusters

Western Switzerland

VDGEFRVSNEJU

343 fitness companies with 2,072 employees in 2024 (BFS STATENT), the most of any region; NonStop Gym (Geneva) and Let's Go Fitness (Lausanne) are registered here.

Zurich

240 companies with 5,297 employees, 42% of the national total, because Movemi, PureGym and Kieser are registered here and count their staff here.

Northwestern Switzerland

AGBLBS

178 companies with 1,129 employees.

Bern and Solothurn

BESO

176 companies with 987 employees, among the smallest on average (5.6 per company).

Eastern Switzerland

SGTGGRSHARAIGL

149 companies with 1,922 employees; update Fitness is registered in Münchwilen.

Central Switzerland

LUSZZGOWURNW

114 companies with 674 employees.

Ticino

82 companies with 543 employees.

Sources

BFS STATENT — institutional units, employees and FTE by NOGA type and canton, 2011–2024 (NOGA 93.13 fitness centres)cash.ch / SDA — Noch nie waren so viele Menschen in einem Fitnessstudio angemeldet (5 May 2026; Swiss Active Eckdaten study with DHfPG and SAFS)Südostschweiz / SDA — Jeder fünfte Erwachsene war 2025 in einem Fitnessstudio angemeldet (5 May 2026; Eckdaten-Studie 2026: 1.45m members, revenue CHF 1.36bn +4.4%)Blick — Das Migros-Imperium: was verkauft wurde und was bleibt (25 March 2025; Movemi 139 sites, 260,000 members)PureGym Switzerland — Company (45+ gyms, 100,000+ members, 200+ employees)blue News / SDA — Zahl der Schweizer Fitnesscenter klettert auf Rekord (3 June 2025; Swiss Active 2024: 1,395 centres, 1.37m members, CHF 1.3bn)Lincoln International — Verium has sold basefit.ch to Fitness World (2018)Zefix — Swiss Central Business Name Index (seats, former names and takeovers of movemi, PureGym, Kieser Training, update Fitness, NonStop Gym, Let's Go Fitness and Holmes Place)

Alain Walder, M.A. HSG · ValIndex|Data as of 2026-10|8 sources cited

9.0Frequently Asked Questions

▶How much is a fitness studio worth in Switzerland?

ValIndex's multiples table puts Swiss fitness studios at 3.5–5.5× EBITDA in transactions and 2.5–4.0× EBITDA on statutory valuations. Studios with many loyal members, a long lease and modern equipment sit at the top of the range.

▶What drives the value of a Swiss fitness studio?

Buyers price: (1) the number of paying members and churn; (2) the lease and its remaining term; (3) the condition of the equipment; (4) location and nearby competition; (5) staff and trainers; (6) dependence on the owner.

▶How big is the Swiss fitness market?

Swiss fitness centres earned CHF 1.36 billion in 2025 and had 1.45 million members in 1,441 centres (Swiss Active). BFS counted 1,285 fitness companies with 12,631 employees in 2024.

▶Who are the main Swiss fitness chains?

Movemi (Migros's Fitnesspark and Activ Fitness, 139 sites) is the largest, followed by PureGym (formerly Basefit.ch, over 45 gyms). Other established names include Kieser Training, update Fitness, NonStop Gym, Let's Go Fitness and Holmes Place.

▶What are the key trends in Swiss fitness?

Five trends: (1) record membership; (2) more centres and revenue; (3) Migros staying in fitness through Movemi; (4) international low-cost chains; (5) younger members.

▶What are the main risks when buying a Swiss fitness studio?

The main risks are: (1) member churn; (2) lease terms and rent increases; (3) equipment replacement; (4) new low-cost competitors nearby; (5) dependence on the owner. Due diligence should check membership numbers and churn, contracts, the lease and equipment.

▶Is the Swiss fitness market growing?

Yes. Members rose 5.8% to 1.45 million in 2025 and revenue 4.4% to CHF 1.36 billion (Swiss Active), and employment in fitness companies rose 7.1% from 2020 to 2024 (BFS STATENT).

▶Where are Swiss fitness studios located?

Using BFS figures for 2024: Western Switzerland has the most fitness companies (343, with 2,072 employees), followed by Zurich (240; 5,297, inflated by chain headquarters), Northwestern Switzerland (178; 1,129), Bern and Solothurn (176; 987), Eastern Switzerland (149; 1,922), Central Switzerland (114; 674) and Ticino (82; 543).

Fitness Studios & Gyms