One of the big headlines from 2015 was the high profile flotation of UK-based low-cost operator The Gym Group, now the only listed health club operator in the UK, with a current market value of around £260m.

The deal was all the more notable given the long absence of any health and fitness club operators from the London Stock Exchange; although Virgin Active has been regularly linked to potential IPOs – both on the London and Johannesburg stock exchanges – any such plans were shelved, at least for now, when the chain was acquired by South African investment firm Brait last year.

So what are the implications of The Gym Group IPO for the rest of the fitness sector? Can we expect other operators to float – and if so, who’s likely to be next?

There’s breaking news on that front: just last month it emerged that the UK’s largest operator, Pure Gym, is also considering a flotation; based on the current size of the business, its valuation could exceed £500m. Any deal is months off yet, but it’s a sign of growing investor interest in the health and fitness sector.

We’ve also already witnessed a handful of IPOs in the United States: Planet Fitness floated on the US Stock Exchange last summer, and SoulCycle is still said to be steering towards an IPO.

So what are the pros and cons of an IPO, and what should operators consider before embarking on this journey? What types of fitness operator might be best suited to an IPO, and are investors more likely to look favourably on other fitness sector stock market flotations off the back of the Gym Group’s success? What have been the factors behind The Gym Group’s successful IPO, how replicable is this by other operators? We ask our panel of experts for their thoughts.