I am about to go to Singapore and i wana know if fitness business is good. What to expect and any advice for me because it is my first time to work there.
It’s currently rather oversaturated. You must understand that Singapore is a very tiny country and there are only so many people living in it. The dominant players for fitness are True Fitness (Used to be known as Planet Fitness), California Fitness and Fitness First. For Spas, there are too many to name – from the big players like FIL and other overseas providers to the smaller private owned ones.
In times of recesion, many of these smaller firms close down, since it is a ‘luxury’ service and not a staple. Furthermore, the cost of labor and rental is too high. My suggestion would be that you try exploring developing cities like Ho Chi Minh (Vietnam) where the expat market is overwhelming and the fitness/spa industry has just opened up. No major players dominating at this point will be able to have that first mover advantage.
Overheads are low so you can make a nifty profit, depending on your operational strategy of low cost + high volume or high cost + high variety
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hrinshir has good answer
It’s currently rather oversaturated. You must understand that Singapore is a very tiny country and there are only so many people living in it. The dominant players for fitness are True Fitness (Used to be known as Planet Fitness), California Fitness and Fitness First. For Spas, there are too many to name – from the big players like FIL and other overseas providers to the smaller private owned ones.
In times of recesion, many of these smaller firms close down, since it is a ‘luxury’ service and not a staple. Furthermore, the cost of labor and rental is too high. My suggestion would be that you try exploring developing cities like Ho Chi Minh (Vietnam) where the expat market is overwhelming and the fitness/spa industry has just opened up. No major players dominating at this point will be able to have that first mover advantage.
Overheads are low so you can make a nifty profit, depending on your operational strategy of low cost + high volume or high cost + high variety