Fitness Industry2010(Philippine Setting) A case study on Submitted by: AGSB ApMathStduents Michael Anthony Lualhati Katherine Pelagio Tina Elaine Ruste JC Timajo
Introduction 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. 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.
Statement of the Problem Why the fitness industry is still a booming industry? Do you feel fitness centers will be there for long? Which club would you join?
Fitness Industry Trend for 2010 Aging population 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. 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.
Children and Obesity People nowadays chose the most convenient option for food consumption which is fast food, which leads to obesity. 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. Trend for 2010
Networking There is a trend towards social networking in the health and fitness world. Many websites provide information on tracking workouts; weight loss programs and many other features that may help consumers answer their fitness needs. Most fitness experts would also advise that once you go through an exercise regimen, you should find a gym buddy or partner to increase adherence. Fitness Industry Trend for 2010
Educated and Experienced Fitness Professionals 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. Fitness Industry Trend for 2010
Functional Fitness. 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) Fitness Industry Trend for 2010
Changing lifestyle 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. Fitness Industry Trend for 2010
Home Fitness vs. Gym Subscription 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. Comparative Study
Comparative Study 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.
Analysis: 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: 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. 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. 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. 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. Some fitness centers allow pay-per-visit scheme where customers are not required to avail memberships. Not all equipments are being utilized by the customers per visit, thus the customer satisfaction is not maximized. Comparative Study
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. Comparative Study
Other alternatives for home gym fitness “Exergaming” Comparative Study
“Lower fees but deliver same results, I’d rather go for a local gym. ” – Maki, 29, financial consultant.
“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
Conclusion After the financial free-fall over the past year, it's not surprising that fitness gyms would change their programming and training to better serve our cost-cutting needs while in-home workouts using inexpensive fitness gear will be much more popular. After extensive comparative analysis on 5 crucial factors in the survey and after thorough research, we came into a conclusion that amongst the three renowned fitness club brand in the country, Slimmer’s world is the smartest choice for someone on tight budget for the following reasons:
Conclusion Slimmer’s world offers the most affordable and flexible pricing packages 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. Slimmer’s world is the Philippines’ leader in slimming and fitness, face & skin clinic services with over 30 years of experience in the industry Slimmer’s world has a clientele base of 380,000 nationwide
Conclusion The trend for 2010 will be the collaboration between government and commercial organizations and health and fitness groups to get the word out about health and fitness. This trend isn't that surprising, considering that some experts predict that 75% of adults will be overweight by 2015 and 41% will be obese. 2009 brought us an amazing influx of new exercise training tools and 2010 will continue that trend with even more great mobile fitness apps, exergames and GPS tracking devices. The use of tracking and online training and scheduling tools will increase in the coming year with more people looking to better gauge their progress by accessing and monitoring details of their fitness programs. Along these lines, we'll also see more interest in living a healthy lifestyle. While we'll stay focused on our weight, Filipinos will definitely recognize a healthier lifestyle.