{"id":44255,"date":"2019-08-14T09:00:19","date_gmt":"2019-08-14T01:00:19","guid":{"rendered":"https:\/\/daxueconsulting.com\/?p=44255"},"modified":"2021-11-18T11:13:17","modified_gmt":"2021-11-18T03:13:17","slug":"hosa-fitness-closed-doors","status":"publish","type":"post","link":"https:\/\/daxueconsulting.com\/hosa-fitness-closed-doors\/","title":{"rendered":"Hosa Fitness closed its doors. What is causing the downfall of China’s traditional fitness centers?"},"content":{"rendered":"\n

In June 2019, the fitness chain Hosa Fitness<\/strong> (\u6d69\u6c99\u5065\u8eab) closed overnight, causing a heated discussion. Hosa Fitness started in 1999, and it had 86 stores in 2009. How could such a big fitness brand go out of business? What are the problems of fitness centers in China? Will all of China\u2019s traditional fitness centers<\/a> face this dilemma? <\/p>\n\n\n\n

\"Hosa
[Source: Hosa Fitness, 2019]<\/figcaption><\/figure><\/div>\n\n\n\n

China\u2019s fitness\nindustry has experienced both an explosion and now a recession<\/h2>\n\n\n\n

The history of fitness centers in China<\/h3>\n\n\n\n

China\u2019s fitness industry started around 2000. After that, Beijing\u2019s\nsuccessful bid for the Olympic Games in 2001 and the SARS epidemic in 2003 set\noff a nationwide fitness trend. China\u2019s fitness\nindustry<\/a> was in\nits prime. During that time, many well-known chain brands such as Hosa Fitness, Nirvana\nsports<\/a>, and UION Life<\/a> began to appear. The industry gross margin exceeded 40%, attracting\na large number of players to enter.<\/p>\n\n\n\n

After\n2004, the fitness industry in China showed explosive growth. In 2010, Beijing\nhad 530 fitness clubs. However, due to the serious homogenization of fitness\nclubs and the single profit model, gyms competed with price wars. On the demand\nside, the global financial crisis in 2008 and the rise in housing prices, the\nspending of white-collar workers on fitness decreased, and the growth of the\nfitness industry market slowed down. In 2011, the number of gymnasiums in the\ncountry showed negative growth.<\/p>\n\n\n\n

Until 2015, with the rise of fitness apps represented by “Lefit<\/a>“, “Keep<\/a>“, “Super Monkey<\/a>“, the fitness industry once again ushered in rapid development. However, the new direction of development did not favor traditional fitness centers, and exposed the problems of fitness centers in China.<\/p>\n\n\n\n

The current conditions of China\u2019s fitness industry<\/h3>\n\n\n\n

The\npopulation of gym-goers in the United States accounts for 20.3% of the total\npopulation, while in China it is only 3.1%<\/a>. Though\nChina still has a large gap in the number of fitness clubs and the number of\nfitness members, China\u2019s\nfitness industry is continuously expanding. According to the National fitness plan 2016-2020<\/em>, the\nnumber of people who take part in physical exercise at least once a week will\nreach 700 million in 2020, and the number of people who take part in physical\nexercise regularly will reach 435 million<\/p>\n\n\n\n

Compared\nwith the North American market, the development of China’s fitness industry is relatively lagging\ndue to the following reasons: Firstly, the domestic cost of fitness is higher;\nthe per capita fitness expenditure in China is more than the US. Additionally,\nthe fitness industry in China has a single format and a serious homogenization\nof service content.<\/p>\n\n\n\n

\"Fitness
[Source: Sina, \u2018Hosa Fitness closed down in Nanjing\u2019]<\/figcaption><\/figure><\/div>\n\n\n\n

Hosa Fitness collapsed overnight. The mass closure of fitness centers in China<\/h2>\n\n\n\n

Problems of\nfitness centers in China: the prepaid model leads to\nhigh debt ratio<\/h3>\n\n\n\n
\"Problems
[Source: Daxue Consulting, \u201cFitness centers\u2019 life cycle in China\u201d, 2019]<\/figcaption><\/figure><\/div>\n\n\n\n

According\nto the 2018 fitness industry report, nearly 84% of fitness clubs last less than\n12 months. There are various reasons for the closure, such as increased\ncompetition in the market, poor management, the downturn in the economic cycle,\netc. However, problems of\nfitness centers in China are all about “cash flow drying up”.<\/p>\n\n\n\n

Just as\nmost service industries, China’s fitness industry adopts a prepaid model. Fitness\nclubs receive cash flows for the next year or even five years at the moment\nthey sell their year cards and private courses, which makes the payoff period\nextremely short. Some clubs can even recoup their investment costs as soon as\nthey open, and locking up customers at the same time. The problem, though, is\nthat these huge cash flows are not counted in the club\u2019s profits. There’s a\njoke going around in the fitness industry.<\/p>\n\n\n\n

\u201cWhen the club\u2019s membership consultant makes money, the coach makes money, and even the front desk makes money, the boss doesn’t necessarily make money.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

Sales\ncommissions for membership consultants and coaches are paid out the same month.\nIn order for a fitness center\u2019s owner to profit, the gym needs to continuously\nacquire new customers. Many clubs\u2019 owners bet on the \u2018hot headed\u2019 compulsive\nbuying of fitness beginners. In other words, the gyms profits are dependent on\nthe immediate decisions of beginners, but not on retaining loyal customers. Under\nthis condition, many fitness centers are more concerned with the selling power\nof membership consultants and coaches rather than the quality of service they\nprovide for current members.<\/p>\n\n\n\n

This\ncreates a vicious circle. A fitness club can only roll cash flow by absorbing\nnew members without any intention to improve service quality. Without improving\nservice, there will be no renewal rate in the second year. Therefore, it is the\nnorm for fitness clubs to go out of business after only two or three years. The\nbiggest problem here is that the prepaid model makes the club\u2019s debt ratio too\nhigh.<\/p>\n\n\n\n

The impact of debt on fitness centers in China<\/h3>\n\n\n\n

What are\nthe consequences of a high debt ratio?<\/p>\n\n\n\n

From the\nmanagement perspective, the fitness club will only have expenses with no income\nin the coming year for every member. The gym loses money even if members only\ncome to bathe without using any equipment. <\/p>\n\n\n\n

In terms\nof capital, high debt ratio makes the club\u2019s ability to resist risks very weak.\nOnce the market environment changes, it is easy for traditional fitness centers\nto crash. Hosa Fitness\nis a typical example. Once Hosa International (the parent company of Hosa Fitness) stock price\ncrashed, the company\u2019s capital chain fractured. Negative news triggered\nconsumer panic, causing the performance of the Hosa Fitness to decline. Because the cash flow was\nno longer sustainable, Hosa international was unable to provide support, and Hosa Fitness failed to seek\nfinancing alone and eventually collapsed.<\/p>\n\n\n\n

In fact,\nwhen Hosa Fitness\nannounced its official opening in 2017, it should have encountered insufficient\nfunds. Normally, fitness chains insist on directly operating their stores, but\nHosa Fitness had to switch to franchising their stores to get funds.<\/p>\n\n\n\n

For the\nprepaid model, China\u2019s government departments lack effective regulatory\nmeasures. According to the “Corporate Bankruptcy Law<\/em><\/a>“, when enterprises are bankrupted and\nliquidated, the wages and labor insurance expenses owed by the enterprises are\npreferentially paid off. Then is the taxes owed by the bankrupt enterprises. Since\ngyms that bust tend to owe large salaries, there has been a lot of spending\nchaos. For example, it is hard to re-sell memberships, and the gyms refuse to give\nrefunds, hence gym members encounter unfair treatment in the fitness centers.<\/p>\n\n\n\n

Traditional\ngym chains in China are often battered with negative reviews. According to the\ncomments on Dianping<\/a>, among the 18 fitness clubs of 6 well-known\nchain brands, the lowest rate of negative comments is at 9.7%, the highest at\n31.1%, reaching 21.5% on average, and the rate of positive comments is only\n65.6% on average. <\/p>\n\n\n\n

How can China\u2019s\ntraditional fitness center survive and go further?<\/h3>\n\n\n\n

With the\nwarning of Hosa Fitness,\nis there a way out for China’s traditional fitness centers? What are solutions\nto the problems of fitness\ncenters in China?<\/p>\n\n\n\n

Firstly,\nreducing the prepaid period can reduce debt, switching the annual membership to\na monthly system. America\u2019s experience may be instructive here. The mainstream\nof fitness clubs in the US offer monthly membership. In general, the monthly\ncard is charged 50-60USD, and the high-end one is about 100USD per month. Also,\nthere are some compromised approaches, such as a seasonal card or half-a-year\ncard, etc. But this way will also increase the pressure on cash flow, pressing\nhigher requirements for the operation.<\/p>\n\n\n\n

Another\noption is to improve the attendance of classes. Registrations for classes and\ntraining sessions are good indicators of the success of a fitness center, as they\nare a method to make secondary profit from current members. Data show that in\n2018, the average number of private training sessions in Hosa Fitness was only 67.3<\/a> classes per month.<\/p>\n\n\n\n

There\nare also ways to improve cash flow by increasing retail sales, such as water\nbars, nutritional supplements, and peripherals. But for now, this is still a\nsmall supplement. According to the 2018 fitness industry data report by \u4e09\u4f53\u4e91\u52a8<\/em><\/a>, retail sales account for only 3.1 % of gym\nrevenue.<\/p>\n\n\n\n

It is\ndifficult to achieve a low debt ratio in traditional fitness clubs without\nchanging the target users and product forms. In terms of problems of fitness centers in\nChina, traditional gyms need further transformation and upgrading. The\nmodel of traditional fitness clubs in the future must not be as sales-oriented\nand must pay attention to service and reputation. The profit model in the past\nwill be gradually eliminated, and the traditional fitness clubs will eventually\nreturn to being service-oriented.<\/p>\n\n\n\n

\nFor example, gyms can use group\nclasses to attract new customers. The Chinese fitness population is small and\nthe starting point is low. Classes offer a good starting point for beginner,\nand can stimulate secondary consumption. Judging from the popularity of Super\nMonkey, Spacecycle<\/a>, Keepland, traditional fitness clubs in China\nalso need group courses to increase users.\n\n<\/p>\n\n\n\n

\"China's
[Source: Sohu, \u2018Group class, Keepland\u2019, 2019]<\/figcaption><\/figure><\/div>\n\n\n\n
CONTACT US NOW TO ANSWER YOUR QUESTIONS ABOUT BUSINESS IN CHINA<\/a> <\/a><\/div>\n\n\n\n

Group\nclasses can also increase the stickiness of service. Under the current system,\nthe level of private coach\u2019s service is widely criticized. On the one hand, the\nexpertise of fitness coaches is uneven. The data shows that half of the coaches\nin China have been in business for less than two years, and the coaches from\nprofessional sports colleges only accounted for 25.2%. On the other hand, the\nsales-focused model of fitness clubs does not play a positive role in consumer\nexperience. Therefore, to improve service and increase the stickiness, the key\nis to improve the level of personal trainers and create a consumer-focused\nmanagement system.<\/p>\n\n\n\n

The new emerging business model of the fitness industry in China<\/h2>\n\n\n\n

The threat of new-style fitness centers<\/h3>\n\n\n\n

As\nmentioned earlier, the new type of fitness club is threatening the traditional\ngyms. The following will introduce the profit model of the new type of fitness\nclub in China.<\/p>\n\n\n\n

Take SUPERMONKEY<\/a> as an example. SUPERMONEY is a fitness brand from Shenzhen. The\nfirst group class studio of SUPERMONKEY came out in 2015. Most of its studios\nare located in business districts, with class times before working hours,\nduring lunch, and after working hours. <\/p>\n\n\n\n

SUPERMONKEY\nprofits mainly from two aspects: one is cash flow, and the other is cost\nstructure control. In terms of cash flow, the price of each class of SUPERMONKEY\nranges from 69 RMB to 239 RMB. Normally, one studio can hold 300 training\nclasses a month, with about 15 people for each class, so the annual revenue of\na single store is about 3.8 million RMB.<\/p>\n\n\n\n

\"Fitness
[Source: supermonkey.com, 2019]<\/figcaption><\/figure>\n\n\n\n

SUPERMONKEY\nclasses are booked through the WeChat mini program, which allows customers to\nselect and pay online based on store location, class type and class time. <\/p>\n\n\n\n

\nIn terms of cost structure,\nthere are six types of SUPERMONKEY stores: universal stores, theme pavilions,\nbicycle studios, parent-child stores, static stores, and fitness cabins. The\narea of a store generally between 200-300m2<\/sup> often located on the\nsecond or third floors of malls and office buildings. To reduce costs, there is\nno front desk or locker rooms. The coach only comes during class, and the users\ncan enter the classroom by entering a code sent only to those who register for\nthe class, which greatly reduces spending on employees.\n\n<\/p>\n\n\n\n

\"Fintenss
[Source: Sina, \u2018Supermonkey store\u2019, 2019]<\/figcaption><\/figure>\n\n\n\n

In the\ncourse development and coaching reserve, half of the courses currently come\nfrom Lesmills courses, and others are the independently development by\nSUPERMONKEY. The copyright price of introducing a Lesmills course is high, more\nthan RMB 100,000. Therefore, 90% of the gyms in China, especially the small\ngyms, do not purchase copyright. In addition, SUPERMONKEY established the Super\nScarlet Academy to train its fitness instructor. This is also a preparation for\nthe SUPERMONKEY to start a large-scale private training course or even open a\ncomprehensive fitness center.<\/p>\n\n\n\n

A good way to target fitness beginners as the main\ncustomers<\/h3>\n\n\n\n

Whether\nit\u2019s SUPERMONKEY, Lefi or Keepland<\/a>, they are all doing the same thing: targeting\nfitness beginners. Once again, the penetration rate of the fitness population\nin China is only 3.1%. According to insiders, 99% of those who signed up for an\nannual membership in traditional fitness centers are fitness beginners. In\nterms of the current market and the people\u2019s fitness levels, group classes are\nmore in line with the needs of fitness beginners. <\/p>\n\n\n\n

\"China's
[Source: Keepland, 2019]<\/figcaption><\/figure><\/div>\n\n\n\n

Specifically,\nwhat are the needs of fitness beginners? They do not need to time and money\ninto a rigorous training schedule with a personal trainer. Rather, they desire\nto experience the feeling of fitness, find happiness in sweating, and even to\nshow off their healthy lifestyle in WeChat moments. Therefore, the\npay-per-visit group classes are enough to meet the needs of fitness beginners.<\/p>\n\n\n\n

What about the future?<\/h2>\n\n\n\n

Targeting\nfitness beginners is just one of the hottest trends in China\u2019s fitness\nindustry<\/a> right\nnow. Whether it is a traditional fitness club, or a new type of group classes\nstudio, it is not that easy to lock-in customers. Li Lu from Daxue consulting says,\n<\/p>\n\n\n\n

\u201cNowadays, customers are disloyal, especially\nyounger ones. Group exercise classes and traditional fitness centers have to\nfind their own irreplaceable points to lock-in customers.\u201c<\/em><\/p>\n\n\n\n

Unique\ncourses, professional coaches and appealing studios can all be features of a fitness\nclub. Fitness centers need to provide a sense of belonging to disloyal\ncustomers. In addition, marketing measures for traditional fitness clubs are old-fashioned,\nsuch as flyers and telemarketers. Gyms are better off switching from flyers to digital marketing<\/a>. When the focus shifts away from desperately\nmaking profit to serving the customers, a lot more fun and attractive business\nmodels are available to gyms. <\/p>\n\n\n\n

Author: Rita Fan<\/p>\n\n\n\n

\n\n\n\n

Learn something new? Stay updated on the Chinese market by following our WeChat, scan the QR code below, or subscribe to our newsletter<\/a><\/h4>\n\n\n\n
\"daxue<\/figure><\/div>\n\n\n\n

We are creating the largest library of China business cases<\/strong><\/h3>\n\n\n\n

Listen in China Paradigm in iTunes<\/a><\/p>\n\n\n\n

\"China<\/figure>\n","protected":false},"excerpt":{"rendered":"

In June 2019, the fitness chain Hosa Fitness (\u6d69\u6c99\u5065\u8eab) closed overnight, causing a heated discussion. Hosa Fitness started in 1999, and it had 86 stores in 2009. How could such a big fitness brand go out of business? What are the problems of fitness centers in China? Will all of China\u2019s traditional fitness centers face […]<\/p>\n","protected":false},"author":39,"featured_media":44257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","footnotes":""},"categories":[346,348,19,957,73,1161],"tags":[385,7006,3516,1122,3510,4310,1836,2045,4546,4390],"daxue_industry":[],"class_list":["post-44255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china-companies","category-china-markets","category-market-analysis-china","category-market-report-china","category-retail-in-china","category-sport-in-china","tag-business-in-china","tag-fitness-app-in-china","tag-fitness-centers-in-china","tag-fitness-in-china-2","tag-fitness-industry-in-china","tag-health-and-wellness-in-china","tag-market-of-sport-in-china","tag-sport-market-in-china","tag-sport-of-china","tag-wellness-industry-in-china"],"acf":[],"yoast_head":"\nHosa Fitness closed its doors. 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