True Fitness and True Yoga Abruptly Close All Studios in Singapore
In this article (4)
True Fitness and True Yoga abruptly closed all of their studios across Singapore earlier this month, including the flagship 41,000-square-foot TFX club at Millennia Walk. Parent company Kontafarma cited fierce competition from boutique studios, residential condominium gyms, and online workout options for the shutdowns.
The closures come amid what Singapore Fitness Alliance president Sean Tan calls a golden age of fitness, with Sport SG data showing 76 per cent of residents exercised at least once a week last year, up from 66 per cent in 2019.
Conventional big-box gyms spanning upwards of 15,000 square feet face steep fixed costs in rent, equipment, and staffing. According to industry experts, mid-market operators are struggling with profitability as consumers migrate to specialized boutique setups or low-cost 24-hour franchises.
Boutique operators take a different route, running studios between 1,000 and 2,500 square feet for single disciplines like reformer pilates, indoor cycling, or personal training. At the budget end, automated 24-hour chains like Anytime Fitness, Snap Fitness, and 24/7 Fitness lease 4,000 to 6,000 square feet in suburban heartlands. They skip expensive shower blocks and wet areas to protect unit margins.
The Math Behind Prime Real Estate Leases
Institutional leasing terms drive most of the pain. Singapore Fitness Alliance data shows industry operating margins historically sit between 15 and 25 percent, with rent absorbing 15 to 20 percent of gross revenue. Recent talks with real estate investment trust landlords tell a different story. Rental demands now eat up 30 to 40 percent of total turnover.
Commercial REIT managers face pressure to deliver distribution growth each year, driving them to push for tighter base rents and turnover clauses. For independent operators, building out a modern facility requires heavy upfront capital. Commercial strength equipment alone costs between S$15,000 and S$20,000 per machine before shipping, taxes, and installation.
Monthly overheads add up fast. Running a 4,000-square-foot facility in Singapore’s central business district takes roughly S$40,000 a month across servicing, software, cleaning, and staff wages. Operators carrying fit-out debt from earlier expansions cannot keep up when turnover rents jump at renewal.
“Conventional big-box gyms spanning upwards of 15,000 square feet face steep fixed costs in rent, equipment, and staffing.”
Market Squeeze on the Middle Tier
Property owners lose reliable anchor tenants when big gyms pull out of upper floors. Those large spaces once drove steady weekday foot traffic. Landlords now must chop multistory tenancies into smaller units, spending extra capital on mechanical and electrical alterations. That shifts leasing risk toward smaller boutique operators on shorter three-year terms.
Consumers no longer rely on a single club pass. Instead, residents combine free condo gyms and subsidised ActiveSG facilities with boutique class packs, corporate pickleball sessions, and run clubs. Mid-tier operators get squeezed from both sides. Without budget pricing or elite coaching, their retention rates tumble.
“Demand is not the problem. Being nothing in particular is the problem. Not the cheapest, not the best, so people drift out of the middle.”
Shifting Footprints and Suburban Relocations
Rising costs are driving established operators toward suburban transit hubs. Local brand Amore Fitness, which runs women-only gyms and day spas across nine locations, shut branches at Jurong Point and Seletar Mall while securing newer sites at CPF Jurong Building and Punggol Coast Mall. The chain added reformer pilates and recovery areas to keep members from spending elsewhere.
Specialist studios are betting on high-touch service to fend off price wars. Surge Strength & Results runs three studios focused on one-on-one personal training. The business spent over S$50,000 on coach education last year, prioritising client accountability over basic access. UFIT took a similar tack, adding physiotherapy, podiatry, and sports nutrition alongside group conditioning across its four outlets.
Upcoming Renewals and Format Adjustments
Thousands of displaced True Fitness members are now hunting for alternative gyms. That opens a direct customer pipeline for suburban 24-hour franchises and niche studios. Meanwhile, landlords holding empty mega-format spaces are reviewing subdivision plans and reconfigurations ahead of upcoming lease cycles.
Gyms negotiating 2027 lease extensions will run into stricter landlord terms on fit-out spending and revenue guarantees. Malls now favour high-turnover experiential tenants over traditional, large-format fitness clubs.