LifeTime Fitness Mission Statement: Life Time, Inc. is a fitness club franchise that operates in the United States and Canada. Today, we will describe, how the corporate mission and vision statements are highly accountable in getting a great level of success for this company.
So, let’s have a look at the following article on Lifetime Fitness Mission And Vision Statement!
Lifetime Fitness, also known as Life Time, Inc, is the name of a health club chain that operates in the United States and Canada.
The business was started in 1990 by its current Chairman and CEO, Bahram Akradi, and later renamed it as Lifetime Fitness in 1992.
The first gym, or club, opened in Brooklyn Park, Minnesota. Several new additional sites were later added in the Minneapolis-St. Paul area.
However, the oldest facility is recently located in Eagan, Minnesota.
Under the brand Life Time Athletic, the chain mostly opens clubs in a densely populated areas and wealthier neighborhoods. Clubs in smaller areas or territories are known as Life Time Fitness.
In addition, the organization has gained over 200 annual competitions throughout the United States.
Currently, Life Time Fitness is also a publicly held company owned by TPG Capital and Leonard Green & Partners.
There is no doubt that it is one of the most influential fitness clubs in North America and their mission statement appropriately depicts their ambitions.
Overview of the LifeTime Inc.
|Name of the Company||Life Time, Inc.|
|Industry Served||Health Club chain|
|Geography areas served||United States, Canada|
|Founded||1990 (formerly known as FCA, Ltd.)
1992 (as Life Time Fitness, Inc.)
|Headquarters||Chanhassen, Minnesota, U. S|
|Owner||TPG Capital and Leonard Green & Partners.|
|Numbers of Employees||36,000|
|Current CEO||Bahram Akradi|
|Revenue||1,900.37 million U.S. dollars (as of 2019)|
Significance of Mission and Vision Statement
LifeTime Fitness is a unique athletic lifestyle business established in 1992, by Bahram Akradi, who also serves as a CEO of this company. The mission and vision of LifeTime Fitness demonstrates about an organization which has a distinct strategic model.
For introducing a different business concept, it has gained a lot of popularity in the athletic and fitness industry.
Since its inception, LifeTime has retained its distinct ways to operate their fitness clubs in the United States, which makes them most unique among the existing facilities.
There is no wonder that LifeTime’s mission and vision statements have a significant impact on the establishment’s branding.
A vision statement clearly outlines a desired future for an organization, while a mission statement explains the performance and organizational practices that will guide the business toward the desired future.
In case of Lifetime fitness, the vision statement indicates that the company’s main motto is to bring positive outcome and changes to the lives of the people who are attached with this fitness club.
LifeTime’s mission statement outlines the scope of its services and the expected results on the lives of their customers. The company’s focus is not just on physical fitness, but also on other factors that contribute to a healthy and satisfying life.
LifeTime enhances the exclusivity through its operations and general culture in all of its athletic fitness clubs and resorts by adding unique core principles. These core principles highly support company’s goal and vision statements.
The Mission Statement of LifeTime Fitness
The mission statement of LifeTime Fitness is “to provide an Entertaining, Educational, Friendly and Inviting, Functional and Innovative experience of uncompromising quality that meets the health and fitness needs of the entire family.”
The mission statement reveals that the organization is fully committed to delivering a comprehensive and positive service to all members of their gyms.
Analysis of Mission Statement Of LifeTime Fitness
In this mission statement, LifeTime Company prioritizes improving the quality of life for all of its consumers. The corporation devotes its full commitment and dedication to ensuring that everything performs flawlessly inside the fitness clubs to provide a full advantage to its customers.
The mission statement also refers to do every possible thing to ensure that their clubs are informative, fun, friendly, and, most importantly, welcoming to everyone. If the mission of a health club is to provide high-quality fitness services, then this should be the most important objective.
The mission statement has the following key features:
- Encourages Healthy Living
To meet the first part of its mission statement, LifeTime Fitness has a full-fledged wellness wing in each of its resorts. They are devoted to providing professional advice and instruction on how to achieve healthy living. According to LifeTime, it is important to understand the different health issues and their connection with exercise and fitness.
The health section under experience life is an excellent example of the variety of informative items. LifeTime provides their experience to their clients in order to develop a better understanding of unusual health conditions and how they can be effectively handled. Moreover, the company is well-connected with on-site advisors who can provide one-on-one counseling and advice to customers.
- Improving Communities
The prime idea of developing LifeTime Fitness was to provide a healthy circumstance in which people of the United States, can exercise or work out or enjoy their leisure time appropriately. According to LifeTime, healthy and happy individuals can create greater societies or communities, and here it depicts the company’s strategy.
To help people with their lifespans, the organization integrates revolutionary workouts with nutrition coaching. In doing so, they are able to develop long-term and stable habits in people which also leads to better careers. In reality, there are a lot more projects the corporation has, as it invests in services that promote general development in communities.
- Expectations exceeded
Apart from traditional sports resorts, LifeTime has set the bar high on its offerings. The organization has made significant investments to provide its members with world-class resorts equipped with cutting-edge technology, sporting facilities, and a healthy ambiance.
LifeTime’s amenities make its resorts “more than a home” and a way of life that everyone would desire. In reality, the luxury facilities provided by LifeTime Fitness athletic resorts is a dream come true for the majority of its customers.
The Vision Statement of LifeTime Fitness
LifeTime Fitness’ vision statement is about “to change lives.” The company indicates that it “remains committed to championing a healthy and happy life for its members through a portfolio of unparalleled athletic lifestyle resorts that go beyond fitness to encompass the entire spectrum of daily life for individuals, couples and families of all ages.”
Analysis of Vision Statement Of LifeTime Fitness
Through the above few lines of the vision statement, Life Time Fitness’ explicitly refer to the envisioning of the organization or the franchise that cares about offering healthy fitness services to customers of all ages. The critical analysis of the vision statement reveals that the organization cares deeply for its employees.
It also demonstrates the company’s overall approach to business. In this way, it has shown its commitment to the general well-being of its consumers along with developing its brand name.
The vision statement has the following features:
Remains committed to championing a healthy and happy life for its members
The first component of the vision statement reveals their solid commitment to providing healthy and happy lives to their consumers. They tried to enhance the lifestyles of their clients with state-of-the-art workout equipment, professional trainers, and a welcoming atmosphere. LifeTime goes beyond and beyond by leading the fight by promoting healthier food programs for children. It also acknowledges the protection of the environment to be an essential part of healthy living, as shown by its advanced attempts to sustain the world.
Portfolio of unparalleled athletic lifestyle resorts
Fitness is a way of life at LifeTime. Because of its diverse operations and facilities, the company’s unique ways have made it everyone’s favorite in the United States. This company’s philosophy is that it has a regular routine that includes fitness, exercise, food, relationships, detox procedures, and environmental sustainability. The second part of the vision statement demonstrates the desire of the company to be one of the popular athletic fitness resorts with class-leading fitness services.
Go beyond fitness to encompass the entire spectrum of daily life for individuals, couples, and families of all ages
It implies that the organization considers fitness as a lifestyle, what it should be. That is one of the reasons why the clubs keep a strong focus on assisting individuals in making a complete change in their lifestyle including food, exercise, and meditation.
LifeTime Fitness’ core values comprise “innovativeness, commitment to people, transparency, and honesty.”
“Innovation, transparency, commitment to people, and honesty” are key principles which defines truthfulness of the company. As a result, having these core values, the fitness club chain has established itself as a trustworthy organization, not only by its owners, but also by the potential and future members.
LifeTime’s consistent progress to become one of the largest athletic fitness clubs in the United States was only possible because of its core values. It was really challenging, especially in readjusting its employees and stakeholders to its ever-growing brand. The company always supports these core values which has driven it towards a great success and growth over the years throughout the US.
According to historical sources, LifeTime’s founder advocates innovation in his company, which has resulted in the unique, elegant, and highly engaging organization. Its performance has also been partly attributed to its continuous prioritization of its customers’ demands. Most notably, Life Time conducts all of its activities with complete integrity and authenticity, which has attracted huge customers to their fitness clubs or resorts.