Catchment Area Analysis for 24 Hour Fitness in Cochin

CATCHMENT AREA ANALYSIS FOR 24 HOUR FITNESS IN COCHIN, KERALA SYNOPSIS OF CATCHMENT AREA STUDY SL NOTABLE OF CONTENTSPAGE NO 1Catchment area PTA, STA, TTA2 2Vytila and vicinity7 3Property demand12 4Infrastructural growth12 5Findings14 6Strategy for 24 hour fitness14 7Reference15 CATCHMENT AREA PRIMARY TRADE AREA LOCATIONDRIVING DISTANCE Elamkulam2 mins Vytilla2mins TERTIARY TRADE AREA LOCATIONDRIVING DISTANCE Gigi Nagar15 mins Panapilly Nagar16 mins SECONDARY TRADE AREA LOCATIONDRIVING DISTANCE KSRTC BUS STAND7 mins Kadavanthara8 mins 24 Hour Fitness is an international fitness brand.

The trade area is divided as primary, secondary and teritiary on the basis of time taken by drive to reach the destination. 1-5 mins drive is considered for primary, 6-10 mins for secondary and 11-15 mins for teritiary trade area. This is based on the fact that, time required to reach a fitness centre is highly deterministic. TRADE AREA ANALYSIS: PTA – PRIMARY TRADE AREA STA – SECONDARY TRADE AREA TTA – TARTIARY TRADE AREA Primary Catchment The Primary Catchment is within 0-5 minutes’ drive to 24 Hour Fitness. The areas are: •Vyttila •Elamkulam

Therefore the primary catchment of 24 Hour Fitness is strategically situated amidst the densely populated Vyttila and Elamkulam areas. Secondary Catchment The Secondary Catchment is within 5-10 minutes’ drive. The areas are: •Kadavanthra •Ponnurunni Therefore the secondary catchment of 24 Hour Fitness is the densely populated Kadavanthara which is a residential area. Tertiary Catchment The Tertiary Catchment is within 10-20 minutes of drive time. The areas are: •Giri Nagar •Panampilly Nagar •Chalikkavattom Therefore the tertiary catchment of 24 Hour Fitness is the thickly populated

Giri Nagar, Panampilly Nagar and Chalikkavattom which is a core residential area. The primary, secondary and teritiary trade areas cover the important and potential residential areas of Cochin. The target consumers of 24 hour fitness can easily access the brand with this location. Road Ways The Sahodaran Ayyapan road from west to Vytila is common for all the target consumers from Kadavanthara, Panampally, Kaloor. This is the primary roadway for 24 Hour fitness. This location completely restricts the flow of customers to the Gold Gym Vytila, which is a competition. The Edapally Vytila road brings in customers from north.

These are the primary roadways which is sccesible for the target customers. It is giving a direct competition to Gold Gym, Vytila, which is comparatively low priced and infrastructuraly poor compared to 24 Hour Fitness. Vytila and vicinity Vyttila is an intersection as well as the name of a region in the city of Kochi, in the state of Kerala, India. It is one of the largest as well as the busiest intersections in Kerala. This node intersects the main north-south artery of the state of Kerala, namely, the National Highway 47, with three city roads of Kochi viz, the S. A.

Road (east-west), the Vyttila-Petta Road, and the Thammanam Road. Vyttila hosts the Kochi Mobility Hub, which converges different ways of surface transport (namely, local as well as long distance buses, rail, Metro Railand inland water transport) to the city onto a single node. Institutions Vyttila is home to hospitals like the Welcare Hospital and the Mother & Child Hospital. The State Bank of India, State Bank of Travancore, Punjab National Bank, Corporation Bank, Vijaya Bank,Bank of Baroda, Federal Bank, South Indian Bank all have branches in this area. Toc H Public School, St. Rita’s H.

S Ponnurunni, C. K. C. L. P. S are schools located in Vyttila. There are several supermarkets (prominent among them include V-Mart and the Margin Free Market chain of mini-super markets) in this area in addition to several mom & pop stores and pharmacies. Eateries like K. R Bakes, Aryaas, Best Bakers, delight Bakers and traditional ‘Thattukadas’ are also decent hangouts for people across age groups in the junction. Schools Vyttila hosts the following schools ?Toc H Public School ?C. K. C Girls High School, Ponnurunni ?St. Rita’s Boy’s High School, Ponnurunni Hospitals ?Welcare Hospital Mother & Child Hospital ?Ranjini Eye Hospital Shopping and entertainment The Kundannoor-Edapally streatch of the National Highway 47 passing through Vyttila, is home for the largest malls in the state of Kerala. The Largest shopping mall in the state – Gold Souk is located in Vyttila on NH Bypass. The mall has 4 Screen Multiplex Cinemas, Spacious Hypermarkets, Food courts, Restaurants and branded retail outlets. There are several supermarkets (prominent among them include V-Mart and the Margin Free Market chain of mini-super markets) in this area in addition to several mom & pop stores and pharmacies.

Eateries like K. R Bakes, Aryaas, Best Bakers, delight Bakers and traditional ‘Thattukadas’ are also decent hangouts for people across age groups in the junction. The Oberon Mall, one of biggest malls in Kochi with its cinemax theatres, is also situated along the way from Vyttila to Edappally. Real Estate, Builders and Apartments: •Confident Group •Mather Group •Good Day properties •Mansions •Good earth •Aurora •Siddhi •Dubex River garden •Real India •VKL group •Sri Ram Krishna Builders •Skyline Orion Villa •Santhi Shreyas •Jewel Homes •Water Lilly Premium apartments Financial Institutions Axis Bank •Icici Bank •Bank of Baroda •South Indian Bank •State Bank of India •Thammanam Service Co-operative Bank Restaurants •Pizza Hut •Hotel Aryas •Smoke House •Muruga Hotel •Qualis Hotel •Hotel Anugraha •Albarad Restaurant •Nyle Plaza •Janahridayam •Hotel Mermaid Property Demand The proposed site is between the Vytila Junction and Elamkulam Bridge. The property cost at this site averages to 10-12 lakhs per cent. This is one of the most demanded properties in Cochin. This is because of the high residential potential and the emergence of Vytila as the second business centre of Cochin.

There has been a drastic increase in the land prices at Vytila over years due to this factor. Infrastructural Growth With the advent of the Vytila mobility hub Vytila is also expecting a major infrastructural change. The Cochin metro is proposed to be passing through Vytila. Recent talks between policy makers indicate that the metro may have a metro stop at Vytila. With operations of Cochin Metro service more people will have direct access to the GYM, within minutes, thus increasing the trade area of the fitness centre. This aspect is also considered while selecting the current location. FINDINGS

The proposed site for 24 Hour Fitness in Cochin has advantages as well as disadvantages. Though the property costs are high, the site attracts the major target customers if located at the proposed site. The site between Elamkulam Bridge and Vytila Junction covers major residential areas covering middle and high class men and women at Vytila, Kaloor, Panampally Nagar, Kadavanthara etc. The site is centre to many apartments where target customers live in. The site directly gives competition to Gold Gym blocking their accessibility through the west road entering Vytila. There have been huge developments in infrastructure.

The Cochin metro can bring in customers from far city within minutes to the site as the metro passes directly over the place. Strategy for 24 Hour Fitness The International Fitness brand can definitely enter the Cochin market with their fitness message. There has been an increase in the fitness concerns with the people in Cochin. The proximity to the fitness centre is a major concern for all the members of the brand. Taking this factor into account and to attract maximum number of target customers, 24 Hour Fitness can adopt following strategies. •High accessibility •Good parking facilities •Loyalty schemes Separate training hours for non-working women •Separate Training hours for working men and women There cannot be any spill over effect for 24 hour fitness with this site. This is because the place is void of any corporate offices from where employees may prefer to go to the fitness centre prior work. This move is based on the fact that this spill over will not account for a high attraction of customers. 24 Hour Fitness can even facilitate transport facilities to achieve high attraction. Sources and Reference •Goole Maps •ICICI PROPERTY REPORT •NEWSPAPER ARTICLE – TIMES PROPERTY •24 HOUR FITNESS OFFICIAL WEBSITE