Podcast with The Usual Place, The Straits Times

I was on The Usual Place podcast with Natasha and Debby Lim from Dentons Rodyk to talk about the recent True Fitness and True Yoga closures.

We spoke about why the fitness industry has become increasingly difficult for large-format gyms, what it actually costs to run a gym, why businesses like selling prepaid packages, and what happens to customers when a business suddenly shuts down.

I also shared some of our own experiences — including gyms that we have closed, mistakes we made with rental and location, and why our newer gym concepts have deliberately moved towards monthly payments with no long-term contracts.

The broader discussion was really about finding a balance between consumer protection and allowing businesses to operate sustainably. Prepayments exist for a reason, but consumers should also understand that when they pay a large amount upfront for a future service, they are effectively taking some credit risk on the business.

Thanks Natasha and Debby for the conversation.