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During the ten year period from 1995 and including 2004, the health club industry saw an increase of 113% in the number of clubs, and in 2004 alone, industry-wide revenues totaled $ 14.1 billion (Wells 2006). Another key factor that has led to this growth in this industry is the increase in members under the age of 18, which doubled between 1993 and 2003, and the increase in members over the age of 55, which increased 273% over the same period (Wells, 2006).
BASIC ECONOMICS
From industry data (Wells, 2006), it can be deduced that since 2000, the demand for health clubs is increasing on average at 6...
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