TT: Do you think it is a good time to enter the Chinese market given the comparatively low purchasing power?
Tsai: I don't think the Chinese market is ready for the fitness industry. China is a developing country so people there are concentrating on making more money like Taiwanese people 20 years ago. They generally put finance ahead of health and figure issues. I figured out that although there are also a large number of people joining fitness clubs, they only use their memberships to show off. We also probed business opportunities from China-bound Taiwanese businesspeople, but most said they'd rather spend the time to come back to Taiwan than in the gym. Therefore, I think it will take a lot longer for China to turn into a mature consumer market.
TT: What are your short-term and long-term goals for the company or the industry?
Tsai: For this year, I plan to open four more Oxy Gyms and some spa parlors in the Taipei region to meet demand. I also hope to reach the goals we have set for our yet-to-be opened Taichung and Kaohsiung stores.
As for the overseas market, we are planning to bring our service to overseas Chinese, first in New York City. From my experience in marketing in various foreign markets, I found overseas Chinese have a high recognition of our brand name and products as most of our products are made especially for Asians. In the long run, we'll still run under our core business model and make proper modifications to cater to trends and customer needs.
As the local fitness market is entering a chaotic period, I would also like to provide my expertise to assist them, which will also help to prolong the industry.
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