Thinking of opening a gym? Don’t expect quick money.
Running a gym in Singapore is not cheap.
When Vulcan Post spoke to Ryan Cheal, Group Chief Operating Officer of Inspire Brands Asia—the exclusive regional master franchisee of Anytime Fitness (AF)—in Jan 2026, he shared that it takes up to US$450,000 to become a franchisee of an AF gym here.
Despite the high startup costs, more gyms have been popping up across the island. As of Oct 15, 2025, Singapore had 505 gyms—a 3.05% increase since 2023. With rising fitness trends like HYROX, it’s no surprise that both individuals and operators are trying to ride the wave.
But hopping on trends doesn’t always guarantee success. The industry has also seen its share of closures, including Ritual, which abruptly shut all four of its Singapore outlets in 2024, and high-profile names like UFC Gym.
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These examples show that even well-known brands can struggle to sustain operations in a competitive market. Even with sufficient startup capital, keeping a gym running—attracting members, covering monthly expenses, and managing unexpected costs—requires careful planning and a strong financial runway.
So what does it really cost to open and operate a gym in Singapore?
To find out, we dug into industry data and spoke with two operators: Unstoppable Fitness, a homegrown bodybuilding gym, and Snap Fitness, a US-born fitness chain with 10 outlets in Singapore (and one more at West Mall slated to open in Apr).
Opening doors is just step one
Based on industry estimates online, the startup capital required to open a gym can range between S$150,000 and over S$800,000, depending on size, location, equipment needs, and franchise fees.
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Broadly speaking, here’s how it breaks down:
Category
Startup Investment Range
Typical Size (sqft.)
Focus
Key Calculations/Factors
1. Boutique/ Specialist Studio
S$150,000 – S$350,000
1,200 – 2,500
Personal training, Yoga, Pilates, or specialised strength.
Initial Franchise Fee: S$40,000 – S$90,000. Total Initial Investment: S$410,000 to S$650,000 (single outlet). Working Capital: Higher buffer required.
When we spoke to operators at Unstoppable Fitness and Snap Fitness, their startup costs largely lined up with these estimates.
Luke Yeo, 33, founder of Unstoppable Fitness, spent nearly S$400,000 to launch his 3,875 sqft. facility. On the other hand, Snap Fitness master franchisee Noah Oberman shared that it costs around S$600,000 to open a 4,000 sqft gym franchise. “Most gyms we’ve opened are anywhere between S$600,000 and over S$1 million,” he added.
Gym equipment is one of the highest upfront costs for the two businesses, with Unstoppable Fitness spending more than half of its startup capital on machines and weights, while Snap Fitness’ equipment expenses can roughly match the rental deposit.
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On top of that, miscellaneous inventory—from water dispensers to towels—can add thousands more, quickly increasing the total initial outlay before a single member walks through the door.
Cost breakdowns from Unstoppable Fitness and Snap Fitness.
These figures only cover the cost of opening a gym. To sustain and keep it running, owners needs to have additional capital—to market the business, grow membership, and maintain a buffer for unexpected expenses or changing client needs.
For Snap Fitness, monthly operating costs can reach at least S$55,000. Luke, on the other hand, shared that his monthly expenses hit around S$25,300, meaning he would need roughly another S$300,000 in reserves to stay adequately funded for a year.
Monthly running costs for Unstoppable Fitness
Monthly running costs for Snap Fitness
Luke added that bills continue regardless of early traction or revenue earned, emphasising the need for sufficient runway in the first year.
“Cash burns fast. Without strong reserves, you won’t fail slowly—you’ll shut down quickly,” he said. “Most gyms don’t close because the owner lacks passion or knowledge. They close because they run out of money before they earn trust,” he explained.
“Not the highest ROI business“
Gyms aren’t a quick-profit business. It can take years before you start seeing a real return on your investment.
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“As gyms are not the highest ROI business, you are likely to break even only in year 2.5 or more,” said Noah.
Industry
Initial Capital Intensity
Operational Break-Even
Full ROI (Payback Period)
Primary Revenue Driver
Gyms & Fitness
High (Equipment/ Renovation)
4 – 18 Months
2 – 3 Years
Monthly recurring subscriptions
F&B (Restaurants)
Medium to High (Kitchen/ Interior)
6 – 12 Months
2 – 5 Years
Daily individual transactions
Retail (Physical)
Medium (Inventory/Fit-out)
12 – 24 Months
3 – 5 Years
Seasonal product sales
SaaS/Tech Startups
Low to Medium (R&D/Staff)
18 – 36 Months
3 – 7+ Years
Scalable user licenses
The average number of years for businesses to break even, according to industry estimates.
When Vulcan Post compared this to other industries, the break-even period for gyms is actually shorter than in sectors like F&B or retail.
However, startup costs are higher for gyms, and the figures we found are based on established franchises such as Anytime Fitness, which benefit from brand recognition and pre-existing systems. Some even claim that AF gyms can break even within six months or even before they open.
That said, these are outliers. Here’s a closer look at what it takes for different gym models to reach break-even:
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Gym Model
Typical Size (sq. ft.)
Members Needed to Break-Even Each Month
Monthly Fee (Avg)
Time to Full ROI (Payback)
Boutique Studio
1,200 – 2,500
150 – 350
S$150 – S$350
18 – 24 Months
Mid-Sized Gym
2,500 – 5,000
400 – 700
S$90 – S$160
2 – 3 Years
Franchise Gym
3,500 – 6,000
800 – 1,000+
S$90 – S$130
2 – 3 Years
The average number of members for a gym to break even by gym size and monthly fees, based on industry estimates.
Based on its S$24,828 monthly costs and its lowest-tier annual plan (S$119/month), Unstoppable Fitness would need at least 277 members to break even each month.
Snap Fitness will need over 561 members to cover their monthly operating costs. It’s worth noting that more funds are needed to run a franchise gym than an independent gym, hence the difference in the number of members needed to break even.
No one “owes you a chance”
As newer and smaller players, both Unstoppable Fitness and Snap Fitness have to find a way to stand out in a crowded market against established brands, as they face a higher risk of failure.
Mockups of Snap Fitness’s newest gym in West Mall, which is slated to open in Apr 2026. According to Noah, this location would be the biggest in Western Singapore, having taken over the space where used to be, and would include space for a pilates studio./ Image credits: Snap Fitness Singapore
“The real problem? Opening your doors and having no customers at all,” Luke candidly shared. “No one owes you a chance. If you’re new, unknown, and lack social proof, people simply won’t walk in.”
As such, both operators not only have to spend more on marketing, but also focus their efforts on building strong communities within the brand that can tide them through the high and low seasons, through activities such as supporting members at competitions or celebrating physical transformations.
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Gym-goers at Unstoppable Fitness./ Image Credit: Unstoppable Fitness
Independent gyms like Unstoppable Fitness often reinvest earnings into upgrades in their equipment and amenities. These might sound simple, but they help customers feel more comfortable in the space as they work out.
“People can leave for cheaper gyms, but they rarely leave a place that feels like home,” added Luke.
He added that many health and fitness businesses make the mistake of building around a single trend, so when the hype dies down, the brand goes with it. Building evergreen offerings beyond trends is key to long-term survival, and adjusting them to meet demand adds to their versatility.
“There’s a fine balance between hopping on trends and diluting the brand by changing too much, versus staying to the core of what the brand is supposed to do and service. But generally, we try to keep an open mind and see what the market really wants and try our best to accommodate that.”
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Only those with strong foundations are likely to survive
Overall, opening a gym remains viable in Singapore, given the strong demand for health and fitness in the country. However, as the market becomes more saturated and competition for the lifestyle dollar intensifies, gyms can’t be seen as a way to get a quick buck.
Aspiring owners must carefully assess whether they have the financial runway to sustain at least two years, offer competitive prices, and ensure that their services provide enough value for their members to increase loyalty.
As Singapore’s fitness scene matures, newer players can’t win in scale: they have to differentiate themselves through other means to attract members and at least break even. Nevertheless, Noah and Luke remain optimistic.
“I would agree that the first mover advantage is definitely real, and some of the longstanding gyms will be very hard to displace. But I do think there’s still plenty of opportunity in the market,” Noah encouraged.
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“We can’t compete with big box gyms on size. We win on service, elite equipment, and culture,” added Luke.
Read more about the gyms featured below:
Read more stories we’ve written on Singaporean businesses here.
Featured Image Credit: Unstoppable Fitness/ Snap Fitness
The Orico HS500 MetaBox Pro is a five-bay NAS with good hardware, but unless you like taking apart the hardware to install third-party software, there are better options for Apple owners.
Orico HS500 MetaBox Pro
Network-attached storage (NAS) is more than its hardware, and the number of bays it has. It’s simply not possible for anyone to just buy a NAS without having to check out what other features it can do beyond just storage. With AI becoming a hot topic in tech, it’s also becoming part of more onboard features. Continue Reading on AppleInsider | Discuss on our Forums
Looking for an inexpensive pair of earbuds to toss in your gym bag? You can snag our favorite budget wireless earbuds, the JLab Go Pop ANC, for a shockingly low $19 on Amazon, an $11 markdown from their usual price. Don’t let the cost fool you, these earbuds have surprised multiple WIRED writers with their clear sound, water resistance, and ANC performance.
These earbuds have all the features you’d expect from a pair five times the price. They sport IP55 water and dust resistance, perfect for a sweaty trip to the gym or a long run on the beach, and multipoint pairing in case you want to use them for a quick call on your laptop. The included app has an adjustable equalizer, something not even all expensive earbuds can claim, plus programmable controls in case you don’t like the default button layout. Battery life is even pretty decent for the category, with eight hours of juice in the buds and up to 32 hours total with the included charging case.
When you’ve got the tunes going, the JLab Go’s active noise-canceling is surprisingly effective, easily tuning out the hum of an HVAC system and other annoyances. Like other ANC-capable earbuds, they also come equipped with a transparency mode for letting in important sounds, and it works surprisingly well given how little these earbuds cost. You might want to consider something more serious for your next long-haul flight, but these work in a pinch for some yard work or a quick workout.
The London-based platform, which already covers 1.5 million eligible lives across enterprise and healthcare deployments, is using the Series A to accelerate US market entry and deepen its clinical infrastructure, with a new CEO who sold his last company to Adobe.
JAAQ, the London-based digital health engagement platform, has raised $17 million in a Series A round. The investment comes from Meridian Health Ventures, Fuel Ventures, Bolt Angels, and Guinness Ventures, with the capital allocated to scaling enterprise partnerships, deepening clinical infrastructure, and expanding into the United States. Dr. Pooja Sikka, a partner at Meridian Health Ventures, has joined the company’s board as part of the deal.
The company was founded in 2021 with a direct-to-consumer model built around video-based mental health content. It has since pivoted to an enterprise and healthcare focus, embedding that content library, now more than 10,000 clinically reviewed videos, inside the digital products of insurers, employers, and healthcare organisations rather than distributing it to individual users.
The logic is structural: rather than asking people to seek out a mental health platform, JAAQ places its content inside the apps and services they are already using. It currently covers more than 1.5 million eligible lives through active enterprise deployments.
Alex Packham has joined as CEO to lead the company through its next phase. Packham is best known for ContentCal, a social media management SaaS platform he built and sold to Adobe in December 2021, after which he spent three years leading the product’s integration inside Adobe before departing.
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The platform’s commercial proposition has two layers. Organisations can license content from JAAQ’s library and integrate it into their own product journeys, or they can licence a bespoke hosted JAAQ experience.
The company is also building infrastructure it describes as a “clinical engagement layer” for AI-native products, designed to let any digital product or team embed governed mental health content into user journeys without building the clinical governance apparatus themselves.
The pitch to enterprises is that this addresses two problems simultaneously: the mental health access gap, and low engagement with wellbeing benefits that organisations invest in but employees rarely use.
The clinical governance framing is central to how JAAQ differentiates itself from generic AI wellness tools. The platform’s content is produced within a defined clinical and creative framework, rather than generated on demand, and Johri’s appointment is intended to signal that the product is being built with clinical credibility embedded rather than bolted on.
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Meridian Health Ventures, which focuses specifically on UK health tech with a pathway into the US market, is a natural fit for that positioning: the firm runs the first NHS-anchored venture fund and has a dedicated Innovations in Mental Health Fund.
The US expansion is the strategic priority the funding is designed to unlock. The UK market has provided validation, the company’s website references case studies including a UK bank that saved £896,000 in employee productivity and wellbeing improvements, and an insurer that deflected the equivalent of twelve full-time customer service roles through JAAQ-served content.
Translating that model into the US employer and health insurer market, where mental health benefits are increasingly a board-level priority but engagement remains a persistent problem, is the next test.
Grab will be in a total of 21 cities across Taiwan following the acquisition
Grab is buying foodpanda’s Taiwan business for US$600 million (S$770 million) in cash, said foodpanda parent company Delivery Hero in a press release on Monday (Mar 23).
Delivery Hero and Grab have signed a share purchase agreement, expected to close in the second half of 2026, pending regulatory approvals.
Delivery Hero intends to use the net proceeds from the transaction to repay debt and for other general corporate purposes to further strengthen its capital structure.
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In 2025, foodpanda operations in Taiwan generated a gross merchandise value of 1.5 billion euros (S$2.2 billion) and positive adjusted earnings before interest, taxes, depreciation and amortisation.
“This divestment is a key first step in our ongoing strategic review and underlines our commitment to a more focused global footprint,” said Niklas Ostberg, CEO and co-founder of Delivery Hero.
With this acquisition, it will mark Grab’s expansion into Taiwan, its 9th market, and first outside of Southeast Asia. Grab will be in a total of 21 cities across Taiwan following the acquisition.
“This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market. We see a significant opportunity to grow the food and groceries delivery scene here,” said Grab CEO Anthony Tan.
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Grab is targeting completion of the full platform migration of users, merchants and drivers from foodpanda to the Grab app by early 2027.
Delivery Hero will continue foodpanda Taiwan’s operations and has agreed to provide Grab with transition support services for foodpanda Taiwan after the deal closes.
As semiconductor architectures evolve beyond classical transistor scaling into heterogeneous integration, chiplet-based design, and true 3D stacking, heat management has shifted from a secondary design consideration to a defining constraint on system performance.
At the same time, power densities continue to rise while materials and device layers become thinner, creating thermal pathways that are increasingly confined and interface-dominated. In these regimes, heat transport depends strongly on thin films, bonded interfaces, and buried layers that control vertical heat flow inside modern electronic systems.
This guide examines how semiconductor scaling, advanced packaging, and emerging materials are reshaping thermal behavior across modern devices. It explores how these architectural changes amplify the importance of thermal conductivity, thermal boundary resistance, and spatial variability, and why accurate thermal measurement is becoming essential for validating models, guiding design decisions, and ensuring reliable system operation.
The Federal Communications Commission has released a notice today designating any consumer routers manufactured outside the US as a security risk. The rule states that new foreign-made product models for network routers will land on the Covered List, a set of communications equipment seen as having an unacceptable risk to national security. Previously purchased routers can still be used and retailers can still sell models that were approved by the prior FCC policies. In an exception to the usual rule, routers included on the Covered List can continue to receive updates at least through March 1, 2027, although the date could potentially be extended.
The move stems from a goal in the White House’s 2025 national security strategy that reads: “the United States must never be dependent on any outside power for core components—from raw materials to parts to finished products—necessary to the nation’s defense or economy.” The notice from the FCC states that companies can apply for conditional approval for new products from the Department of War or the Department of Homeland Security. However, that requires the businesses to provide a plan for shifting at least some of their manufacturing to the US in order to receive that conditional approval.
Few, if any, brands known for consumer-grade routers currently build products stateside. It seems likely this sweeping provision could face legal challenges from and cause confusion for the many companies that have production facilities overseas. In addition to Chinese tech giants like TP-Link, US companies will also be affected. NetGear, Eero and Google Nest are all headquartered domestically but have manufacturing in Asia. At least some of that manufacturing activity happens in regions like Taiwan that have historically been on good terms with the US. Until the sector sorts out this new restriction, don’t expect to see any new router models on store shelves.
Earlier this month, BYD revealed that its latest Flash Chargers can deliver up to 1,500 kilowatts – roughly four times the power of the “hyper-fast” 350-kW systems common in the US. In tests, select BYD batteries charged from 10% to 70% in about five minutes and from 10% to 97%… Read Entire Article Source link
We don’t usually speculate on the true identity of the hackers behind these projects, but when [TN666]’s accoustic drone-detector crossed our desk with the name “Batear”, we couldn’t help but wonder– is that you, Bruce? On the other hand, with a BOM consisting entirely of one ESP32-S3 and an ICS-43434 I2S microphone, this isn’t exactly going to require the Wayne fortune to pull off. Indeed, [TN666] estimates a project cost of only 15 USD, which really democratizes drone detection.
It’s not a tuba– Imperial Japanese aircraft detector being demonstrated in 1932. Image Public Domain via rarehistoricalphotos.com
The key is what you might call ‘retrovation’– innovation by looking backwards. Most drone detection schema are looking to the ways we search for larger aircraft, and use RADAR. Before RADAR there were acoustic detectors, like the famous Japanese “war tubas” that went viral many years ago. RADAR modules aren’t cheap, but MEMS microphones are– and drones, especially quad-copters, aren’t exactly quiet. [TN666] thus made the choice to use acoustic detection in order to democratize drone detection.
Of course that’s not much good if the ESP32 is phoning home to some Azure or AWS server to get the acoustic data processed by some giant machine learning model. That would be the easy thing to do with an ESP32, but if you’re under drone attack or surveillance it’s not likely you want to rely on the cloud. There are always privacy concerns with using other people’s hardware, too. [TN666] again reached backwards to a more traditional algorithmic approach– specifically Goertzel filters to detect the acoustic frequencies used by drones. For analyzing specific frequency buckets, the Goertzel algorithm is as light as they come– which means everything can run local on the ESP32. They call that “edge computing” these days, but we just call it common sense.
The downside is that, since we’re just listening at specific frequencies, environmental noise can be an issue. Calibration for a given environment is suggested, as is a foam sock on the microphone to avoid false positives due to wind noise. It occurs to us the sort physical amplifier used in those ‘war tubas’ would both shelter the microphone from wind, as well as increase range and directionality.
[TN] does intend to explore machine learning models for this hardware as well; he seems to think that an ESP32-NN or small TensorFlow Lite model might outdo the Goertzel algorithm. He might be onto something, but we’re cheering for Goertzel on that one, simply on the basis that it’s a more elegant solution, one we’ve dived into before. It even works on the ATtiny85, which isn’t something you can say about even the lightest TensorFlow model.
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Thanks to [TN] for the tip. Playboy billionaire or not, you can send your projects into the tips line to see them some bat-time on this bat-channel.
The Z80 has been gone a couple of years now, but it’s very much not forgotten. Still, the day when new-old-stock and salvaged DIP-40 packaged Z80s will be hard to come by is slowly approaching, and [eaw] is going to be ready with the picoZ80 project.
You can probably guess where this is going: an RP2350B on a DIP-40 sized PCB can easily sit on the bus and emulate a Z80. It can do so with only one core, without breaking a sweat. That left [eaw] a second core to play with, allowing the picoZ80 to act as a heck of an accelerator, memory expander, USB host, disk emulator– you name it. He even tossed in an ESP32 co-processor to act as a WiFi, Bluetooth, and SD-card controller to use as a virtual, wirelessly accessible disk drive.
The onboard ram that comes with an RP2350B would be generous by 1980s standards, but [eaw] bumped that up with an 8 MB SPRAM chip–accessed in 64 pages of 64 kB each, naturally. If more RAM than a very pricey hard drive wasn’t luxury enough, there’s also 16 MB of flash memory available. That’s configured to store ROM images that are transferred to the RAM at boot– the virtual Z80 isn’t grabbing from the flash at runtime in [eaw]’s architecture, because apparently there are limits to how much he wants to boost his retro machines.
[eaw] has the PCB fab do all the fiddly assembly these days. Earlier versions were hand-soldered to his credit.
There are already drivers to use in certain Z80 systems. You can of course configure it as a bare Z80 with no machine-specific emulation, or set up the picoZ80 with the “persona” of a classic Z80 machine. So far [eaw] has tried this on an RC2014 homebrew computer, as well as Sharp MZ-80A– which we’ve seen here before, in miniature–and Sharp MZ-700. The Sharp drivers are still works in progress, after which the Amstrad PCW8256/Tatung TC01 is apparently next. We’ve seen Amstrad PCWs here a time or two as well, come to think of it.
If somehow you missed it, the venerable Z80 only hit EOL in 2024, so supplies won’t be drying up any time soon. This hack is really more about the quality-of-life addons this allows. Come back in a decade, and we’ll see if the RP2350 lasts longer than the stack of NOS Z80s.
“Tavajoh! Tavajoh! Tavajoh!” a man’s voice announces, before going on to narrate a string of numbers in no apparent order, slowly and rhythmically. After nearly two hours, the calls of “Attention!” in Persian stop, only to resume again hours later.
According to Priyom, an organization which tracks and analyses global military and intelligence use of shortwave radio, using established radio-location techniques, the broadcast was first heard as the US bombing of Iran began. It has since played on the 7910 kHz shortwave frequency like clockwork—at 02.00 UTC and again at 18.00 UTC.
Over the weekend, Priyom said it had identified the likely origin of the broadcast. Using multilateration and triangulation techniques, the group traced the signal to a shortwave transmission facility inside a US military base in Böblingen, southwest of Stuttgart, Germany.
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The site lies within a restricted training area between Panzer Kaserne and Patch Barracks, with technical operations possibly linked to the US army’s 52nd Strategic Signal Battalion, headquartered nearby.
That identification narrows the field, but it does not reveal who is behind the transmissions or who they are meant for.
The two-hour-long transmission is divided into five to six segments, each lasting up to 20 minutes. Each opens with “Tavajoh!” before shifting into a string of numbers in Persian, sometimes punctuated with an English word or two. Five days into the broadcast, radio jammers were heard attempting to block the frequency. The following day, the transmission shifted to a different frequency—7842 kHz.
Radio communication experts believe the broadcast is likely part of a Cold War–era system known as number stations.
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The Return of the Numbers
Number stations are shortwave radio broadcasts that play strings of numbers or codes that sound random—like the one now heard in Iran. “It is an encrypted radio message used by foreign intelligence services, often as part of a complex operation by intelligence agencies and militaries,” says Maris Goldmanis, a Latvian historian and avid numbers stations researcher.
Number stations are most commonly associated with espionage. “For intelligence agencies, it is important to communicate with their spies to gather intelligence,” says John Sipher, a former US intelligence officer who served 28 years in the CIA’s National Clandestine Service. “This is not always possible in person due to political constraints or conflict. This is where number stations come in.”
While the use of number stations can be traced back to the First World War, they gained prominence during the US-Soviet Cold War. As espionage grew more sophisticated, governments used automated voice transmissions of coded numbers to communicate with agents, Goldmanis says. Citing declassified KGB and CIA documents, he adds that number stations were widely used during this period, often as Morse code transmissions and, in many cases, as two-way communications, with agents reporting back using their own shortwave transmitters.
“Nowadays, you have various satellite and encrypted communications technologies,” Sipher says. “But during the Cold War and even before that, governments had to find ways to do this without being noticed, and broadcasting coded messages was one way to communicate with your assets discreetly.”
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The apparent randomness of the numbers means they can be understood only with a codebook, Sipher adds. “Nobody can make heads or tails of it or understand what it says unless you have the codebook that can give you hints to decrypt the code,” he says, noting that such systems must be set up and coordinated in advance.
A Signal Without a Sender
While the likely origin of the signal may now be clearer, its purpose and intended recipient remain unknown.
Because the broadcasts are encrypted and designed to be covert, those details may remain unclear for years, Goldmanis says. The structured nature of the transmission—its fixed schedule and consistent use of frequencies—further suggests it is part of a planned operation.
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