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New Gym HCMC (Powerlifting, Olympic Weightlifting) - Market Research

I am in the planning stages of opening a new gym in HCMC and wanted to do a little market research to help the process along.

There are currently very few options in HCMC for pursuing strength sports. The options that are available tend to be quite discouraging in regards to the membership fees they charge.

The facility that I am opening will be geared towards individuals who train powerlifting, olympic weightlifting, and other types of functional training. However, there will still be typical cardio and weight machines available for the general fitness enthusiast.

Firstly, for those interested, the strength sports equipment (Rogue and Eleiko) will include:

     Powerlifting – Squat racks, competition benches, power bars, safety squat bars, deadlift bars,
     deadlift platforms, glute/ham raise, reverse hyper, bands/chains,…

     Weightlifting – Olympic bars, bumper plates, weightlifting platforms, jerk blocks,…

     Functional – Crossfit style cage, indoor prowlers/sleds, ropes, rings,

Secondly, which district would be an optimal location for a facility such as this (i.e. if it could be anywhere in the city, where would you prefer?)

Lastly, at what price per month would you be willing to pay for membership at such a facility?

Hopefully these questions will get the conversation started. If you have any other ideas or recommendations, feel free to include them. Thanks!

WinnerLooza :

There are currently very few options in HCMC for pursuing strength sports. The options that are available tend to be quite discouraging in regards to the membership fees they charge.
.........
Lastly, at what price per month would you be willing to pay for membership at such a facility?

It seems that you already know the answer to the last question based on your statement that the fees for existing gyms are too high.  I guess the economics are that you should charge not more than them even if you think your equipment is superior.

I used to work out at a small local gym with the white cut rate gym equipment.  Most of the clients were local high school kids who really needed a lot of work but mostly just did bench presses.  By contrast, a few regulars in their 20's, as well as the owner, were rather impressive.  My own opinion, as I think you may have guessed by now, is that its not the equipment as much as what you make of it.  The owner of my gym didn't speak English but his brother said he called me the "strong old man" definitely an exaggeration. :one

Thanks for the reply. It is correct that I'm trying to find a balance between quality for those members whose preferred sport require it, and value for the members who are just there for general fitness and whatnot.

Do you train a specific strength sport?

WinnerLooza :

Do you train a specific strength sport?

I am almost 70.  I am just trying to not loose muscle mass.   :joking:

Ah, okay.

Thanks again for your response.

You'll have to make it something somewhat unique proposal I believe because with the development of a lot of apartment blocks etc, they're coming inclusive of gyms, so you need to offer something that those don't, which is easier said than done.

You'll argue that not where everyone lives has a gym and I'll agree with you on that, but will those people really be able to afford a gym membership?

So I think you need to look at your target market and decide what you think is best and then work out the rest from there. Make sure you've got a USP though.

1312j :

You'll have to make it something somewhat unique proposal I believe because with the development of a lot of apartment blocks etc, they're coming inclusive of gyms, so you need to offer something that those don't, which is easier said than done.

You'll argue that not where everyone lives has a gym and I'll agree with you on that, but will those people really be able to afford a gym membership?

So I think you need to look at your target market and decide what you think is best and then work out the rest from there. Make sure you've got a USP though.

Hey, thanks for your comment. It's funny you mentioned apartment complexes being inclusive of gyms. The two locations that I have currently scouted are both on the ground level of major apartment complexes.

Ideally, I'd be able to provide for the fitness needs of the apartment residents, while also having specialty equipment for the members whose training requires it.

Seems like the right way to do it. I think that would be the best way to make money as I know what a lot of people will say is that they can't be bothered to go to the gym, but there's not really a legitimate excuse if its within your apartment block.

That's the plan. I just don't want to run into an issue of finding outside members to join also. It may seem a bit exclusive to some people who don't live in the complex.

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