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24 Hour Fitness Essay

1139 words - 5 pages

24 Hour Fitness (high concentration in the Western U.S.) is a large part of the public health club market with the main competitors in their market: Bally's (high concentration in NE) Gold's Gym, and Wellbridge. 24 Hour Fitness has thousands of smaller unincorporated gyms and spas in the U.S. market that are a small threat at best.In Asia, 24 Hour Fitness has entered through acquisition into two main business hubs (Singapore and Hong Kong). Other entrants have begun to make presence into Asia, California Fitness Centers, Clark Hatch Fitness Centers, Bally's also has plans to open 25 to 30 centers in S.E. Asia within the next few years 1. Gold's Gym also is presenting entry into the Asian ...view middle of the document...

Key Management IssuesThe main issue is what to focus their expansion initiative on. Should they expand into the U.S. market further, if so how? Should they expand into the burgeoning Asian market, if so, how, given the number of clubs already making that move.AlternativesDo Nothing -Always an option, but hardly appropriate given the apparent successes of 24 Hourfacilities in Asia as well as entrants rushing to get into the main cities in Asia. Themarkets of Asia at the time are starting to show promise beyond simply Japan,Korea, and Taiwan. The time surely is now or never, do nothing is not an optionto address Asia. The same can be said for the U.S. Market. Health clubmemberships continue to grow and project to grow steadily as the populationcontinues to grow older and live longer.More U.S. Expansion - OrganicCreation of new health clubs in markets that are ripe for 24 Hour Fitness. Thiswill require speculation into market areas that have little high end competition and room for multiple club locations to take advantage of their breadth of line and customization. The other option in Organic growth is to delve headlong into an entrenched area where one of their major competitors enjoys serious advantage.More U.S. Expansion - InorganicThis method is similar to organic growth but through the means of acquisition. Not only will this require up front efforts in marketing, but also understanding of the nature of particular club health where owners of smaller businesses are looking to divest.Asia Expansion - OrganicCreation of new health clubs in the Asian market. This will require efforts to further understand desires of the particular culture in terms of social activity as well as health activity choice. The Asian culture is different from the U.S. culture and will require research to get the offering right. High population density with stable markets obviously would be preferred. It would also be advantageous to understand the plans of the major competitors in regard to their entry plans.Asia Expansion - IndirectAnother option would be to enter into the Asian market through partnering witheither health insurance companies like...

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