Strategic Expansion and Innovation: The BodyChannel's Journey in the Fitness Industry
Mr. Kim Hyo-nam, the current CEO of The BodyChannel, intends to share insights into the company's activities. The BodyChannel, recognized for its extensive knowlege within the healthcare and fitness industries, also has invested in digital sports technology for about 15 years. The company is expanding its portfolio with new brands, including the personal training (PT) business that evolved from The BodyChannel. The company just introduced a new boutique fitness brand called HIT 35, which offers circuit and floor training.
Expansion Strategy:
The BodyChannel plans to launch two new brands, Barre Tone and FX2, in June and August 2024. This simultaneous launch is supported by a sophisticated fitness ERP system and a virtual system for internet video streaming, allowing for rapid brand development. Currently, the BodyChannel operates across 41 locations in Korea. Among these, HIT 35 has been open for two months. Franchising approval for Hit35 is expected soon, which aligns with The BodyChannel's Korean development strategy.
Cost-saving Strategies:
Due to the global economic challenges and the impact of COVID-19, The BodyChannel focuses on minimizing operational costs. Integration of online and offline facilities reduces fixed costs, with strategies including local product introduction, rent reduction, and facility optimization. Shared facilities and smaller spaces contribute to cost reduction, while the integration of IT systems enhances efficiency.
Partnership with Matrix:
Mr. Kim first contacted Matrix in 2018 to look into equipment choices for unmanned fitness centres. Matrix equipment's compact size and dependability make it an excellent choice. Matrix equipment is now installed in all 41 BodyChannel locations, demonstrating a successful cooperation based on confidence and mutual admiration for equipment quality.
Despite economic constraints, the organization remains resilient, focusing on cost-cutting and efficiency improvement. The BodyChannel's relationship with Matrix illustrates the company's commitment to quality and innovation, which has driven its success in the fitness industry.
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