Fitness Industry Analysis

Fitness Industry2010(Philippine Setting),[object Object],A case study on ,[object Object],Submitted by: ,[object Object],AGSB ApMathStduents,[object Object],Michael Anthony Lualhati,[object Object],Katherine Pelagio,[object Object],Tina Elaine Ruste,[object Object],JC Timajo,[object Object]

Introduction,[object Object],Personal fitness training today is becoming an industry which is growing fast, attracting people in large numbers. This is occurring due to the high pressure life styles that we have and the stress it puts on our bodies and brains.,[object Object],These fast paced times require us to be fit both mentally and physically. When you don’t take good care of yourself, it leads to issues related to the heart and diabetes. These problems occur because people are overweight. This is why professional fitness trainers come into the picture.,[object Object]

Statement of the Problem,[object Object],Why the fitness industry is still a booming industry?,[object Object],Do you feel fitness centers will be there for long?,[object Object],Which club would you join?,[object Object]

Fitness Industry Trend for 2010,[object Object],Aging population,[object Object], Fitness clubs and retirement communities stand to benefit from health and fitness programs that cater to the older adult. The number-two prediction notes the baby boom generation is growing older and living longer, and their physicians are recommending they remain active.,[object Object], One down trend maybe observed in this industry, is the tendency away from the commercial gym. As consumers continue to invest in their health needs, most will be looking for an environment that provides individualization and an old-fashioned level of customer service. This is the reason why we decided to include the non commercial gyms in our case presentation.,[object Object]

Children and Obesity,[object Object],People nowadays chose the most convenient option for food consumption which is fast food, which leads to obesity.,[object Object],For the first time in history, children of this generation may not live as long as their parents or grandparents because of the diseases and impairments associated with childhood obesity. With the cutbacks in physical education in schools and an increase in sedentary lifestyle (TV, video games, computers), there is a need for fitness professionals to provide their services to this population to help fight the obesity epidemic. ,[object Object],Trend for 2010,[object Object]

Networking,[object Object],There is a trend towards social,[object Object],networking in the health and,[object Object],fitness world. Many websites,[object Object],provide information on tracking,[object Object],workouts; weight loss programs,[object Object],and many other features that may,[object Object],help consumers answer their,[object Object],fitness needs. Most fitness experts,[object Object],would also advise that once you go,[object Object],through an exercise regimen, you,[object Object],should find a gym buddy or partner,[object Object],to increase adherence.,[object Object],Fitness Industry Trend for 2010,[object Object]

Educated and Experienced Fitness Professionals,[object Object], Some would say that a healthy lifestyle is no longer just a luxury experience for some but something of a necessity. With an aging population, the risk which go along with neglecting one’s health motivate more individuals to invest in a monthly membership or recruit a personal trainer who can customize a program specifically tailored for one’s needs. And with added concern over the rising cost of health care, money spent preventing health problems is money well spent.,[object Object],Fitness Industry Trend for 2010,[object Object]

Functional Fitness.,[object Object], Functional fitness training, using strength training to improve performance for activities of daily living, will become more prominent in 2007. Exercises that mimic actual job tasks or other activities will help improve balance, coordination, strength, and endurance. (http://www.medicalnewstoday.com/articles/57543.php),[object Object],Fitness Industry Trend for 2010,[object Object]

Changing lifestyle,[object Object], Some would say that a healthy lifestyle is no longer just a luxury experience for some but something of a necessity. With an aging population, the risk which go along with neglecting one’s health motivate more individuals to invest in a monthly membership or recruit a personal trainer who can customize a program specifically tailored for one’s needs. And with added concern over the rising cost of health care, money spent preventing health problems is money well spent.,[object Object],Fitness Industry Trend for 2010,[object Object]

Home Fitness vs. Gym Subscription,[object Object], Typically, a fitness center offers the same equipment functionality but differs only in the brands. Major fitness centers have treadmill, stationary bike, dumbbell, sit-up bench, and cardio equipment. These gyms charge their customers from Php 600.00 to Php 3,000.00 for monthly membership fee. This excludes add-on services such as physical trainor assistance, usage of shower rooms, and massage. Local fitness centers charge Php 300.00 per PT session while first-class gyms offer the same services for a minimum of Php 700.00. Annual membership fee also varies across fitness centers. Some may waive this for promotional purposes, valued between P500.00 to P5,000.00. Overall, a customer should annually pay at a minimum of Php 11,000.00 to at most P45,000.00 inclusive of unlimited visits, at least 10 PT sessions, usage of shower rooms, and annual membership. ,[object Object],Comparative Study,[object Object]

Comparative Study,[object Object],The team compared this with the existing market for home gym equipment. Stores such as Olympic Village, Sportshouse, and Toby’s Sports sells almost the same fitness appliance found in a local gym. Below are the price list of top gym equipment corresponding its price on each store.,[object Object]

Analysis: ,[object Object], In comparing club membership and home gym equipments, the team believes that this industry will run in a short run due to the following reasons:,[object Object],Although initial capital for purchasing home gym equipments may be high, there are ways to alleviate this matter. Major credit cards allow installment plans on purchases exceeding Php 6,000.00 at 0% interest rate. Some stores offer promotions up to 50% on their items. ,[object Object],The country is still experiencing economic challenges which discourages consumer spending. Filipinos, as rational beings, will seek alternative choices that may maximize their utility. They might see it pragmatic to buy equipments rather than renting it in a gym. These equipments may also be shared to other members of the household or can be a source of additional capital to them.,[object Object],Some home gym equipments last for more than 5 years. Consumers may realize that it is cheaper for them invest on home gym equipments than paying club memberships. ,[object Object],Although trainors may assist you on what parts of your body needs improvement, in the long run, you might find it impractical to avail their services every visit. ,[object Object],Some fitness centers allow pay-per-visit scheme where customers are not required to avail memberships.,[object Object],Not all equipments are being utilized by the customers per visit, thus the customer satisfaction is not maximized.,[object Object],Comparative Study,[object Object]

Group fitness can be more motivating than working out alone. Not only do you draw on the energy of other exercisers, you have a specific date and time to show up for your workouts - a good idea if you need extra motivation. There's also a competitive environment in group fitness, nudging you to work a little harder than you would on your own. Just a few classes you may see at your local gym.,[object Object],Comparative Study,[object Object]

Other alternatives for home gym fitness,[object Object], “Exergaming”,[object Object],Comparative Study,[object Object]

Comparative Study,[object Object]

Survey / Feedback,[object Object],Comparative Study,[object Object],[object Object]

“Slimmer’s World for accessibility and variety of programs”- Pat, 30, entrepreneur

“Fitness first’s equipment is always available when you need it at a certain point in time. Budget fitness centers like Slimmer’s usually have fully jammed weekdays with so many people and limited machines hampering my schedule. Also there are no special classes such as yoga, pilates, hoola, belly dancing and other fun activities which I like to do than regular work outs. Group training is fun than working out alone.Fitness first also has cozy standby areas and has free food and drinks which enables people to socialize and interact.Slimmer’s world fitness instructors are quite lazy based on my experience compared to Fitness first’s.” – Tina, 28, Design & Multimedia Manager,[object Object]

Conclusion,[object Object],Slimmer’s world offers the most affordable and flexible pricing packages ,[object Object],Slimmer’s world is our preference because of the variety of services that it offers, weight training programme, cardiovascular aerobics exercise as well as skin and spa treatments which is a service not offered by its competitors.,[object Object],Slimmer’s world is the Philippines’ leader in slimming and fitness, face & skin clinic services with over 30 years of experience in the industry,[object Object],Slimmer’s world has a clientele base of 380,000 nationwide,[object Object]

Fitness Industry Analysis

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