Is A California Wow Going Out Of Business?

[mdechgan]

Yeah my wife got the blackcard and those free yoga classes.

It was one of those 1,599 x 10 months 0% interest things.

The sales lady kept calling like once a week.

Where did you buy yours? I was at the major PK branch.

I didn't get one free. Didn't plan to because parking is an adventure there.

It would be ok if they did open 24hrs but I think they close at 10:00pm.

I heard the showers have lots of pressure. Its worth it just to take a shower there once a day because of free shampoo and hot water.

Edited February 26, 2009 by mdechgan

[MeetJohnDoe]

dam_n I paid 15,990 for my wife's membership. Her friend paid 30k last year so I thought it was a good deal.

Wife paid 22k for a lifetime (black card) about 6 months ago, paid all at once so they would not deduct monthly form the credit card. They threw in one for me as well so I gues it was about 11k each?

I still can't believe all you folks that think you are actually getting something of value here! This company is likely in its "death throes" and will take any amount of money someone would offer to pay for a "lifetime" membership just to get any last bit of cash-flow from people who have not already be sucked into their scam.

[Ijustwannateach]

I’m surprised as I visited the Gym at Ekkami last week and it’s was jammers. The yoga studio was full, the bike studio was full and nearly all the machines were in use. That’s one of the main reasons I didn’t join, it was too crowed. The sales pitch was intense but I just said no.

Maybe the other gyms don’t have the same numbers of members but this one certainly looked like it was making money.

They quoted 5000bt for 4months.

On a side note: Anybody know how much Fitness First normal charges?

Not a sign of long term success, but a sign they're milking it for everything they can get. If they were normal businesses, they would step back from sales when the gyms became too crowded to be comfortable, out of concern for customer satisfaction- also the prices would be higher so that they could still make a profit while maintaining a sane membership.

[dave9988]

again.... it is never crowded in the morning. if you are going after work than you are screwed regardless. i have never had any problems with the machines being broken or all being used. that said, i see very little in the way of "eye candy" unless you are talking about men. most of the girls are wearing sweats and a long tshirt. you see more skin on a bts station.

as for the company going bankrupt, it seems more likely that they would just close a couple of locations and move those memberships to other locations.

[torrenova]

Yeah, move your membership from Pattaya to Bangkok ? very convenient - not !

It is a sinking ship. Overinflated crap at the highest price the sucker will pay. Pattaya that is.

[dave9988]

Yeah, move your membership from Pattaya to Bangkok ? very convenient - not !

It is a sinking ship. Overinflated crap at the highest price the sucker will pay. Pattaya that is.

well, no. obviously it would make more sense to close down asoke/paragon/silom/ekamai

---Paragon being the most likely to go assuming the rent is astronomical.

[dave9988]

for all the bitterness in this thread, how many of you got took? Was it the all too familiar TV scenario of the pretty Thai girl who you thought would go out on a date with you if you said yes? she batted those pretty eye lids and tell you to sign on X?

Edited February 26, 2009 by dave9988

[bkkjames]

well, instead of going around wondering if it is a sinking ship because they are offering cheaper memberships, why not read some financial info on the company..

http://www.set.or.th/set/companynews.do?sy...&country=US

Like alot of companies, reported a net loss for the year. Not surprised they offer this kind of promotion as individuals cut-back on 'extras' like gyms and spas.

[mdechgan]

Yeah it looks bad. But they have the assets and equity looks ok. They also have the revenue. Just no profit. share prices are like 30% of their opening value. But I don't think they will go broke for another year or 2.

[dave111223]

"Lifetime" payments for something which requires continuing costs very rarely make sense (Just look at the Elite Card).

If it's too good to be true...it usually is.

The only way it would make sense is if California WOW could indefinitely increase their sales exponentially each year, without ever increasing operating costs....which is obviously not possible.

Of course there is the possibility that it is just a limited offer, and you'll be one of the lucky few to scoop up a valuable lifetime membership, which will never be available again when they start running their business properly again....wishful thinking...

And you could purchase a lifetime membership and use the heck out of it for a few years, before it all comes to end. But the risk is you never know how near the end is.

[redscouse]

I use sports city on pracha chuen road, great place, never full, outdoor pool, tennis courts, driving range next door. its not cheap (nearly 4k per month) but i live up this way. if anyone lives in this area its well worth a look.

I run outside in the mornings as i prefer that to treadmills but I use the other facilities

[bonobo]

dam_n I paid 15,990 for my wife's membership. Her friend paid 30k last year so I thought it was a good deal.

Wife paid 22k for a lifetime (black card) about 6 months ago, paid all at once so they would not deduct monthly form the credit card. They threw in one for me as well so I gues it was about 11k each?

I still can't believe all you folks that think you are actually getting something of value here! This company is likely in its "death throes" and will take any amount of money someone would offer to pay for a "lifetime" membership just to get any last bit of cash-flow from people who have not already be sucked into their scam.

A lot of you so-called experts like to assume that anything you wouldn't do means we have been taken. It is all a matter of choice and value as each individual ascertains value.

Even if it went belly up tomorrow, I would still habe bought my lifetime membership. When I first joined, I was paying 800 baht per month. At the same time, the crappy gym at Rattana Kohsin was 2500 per month.

Last March 23, I paid 7,000 baht for a lifetime membership. That is less than 600 baht per month if the place closed. If it stays open for any longer, that is just gravy.

The free weights are fine, and the place is empty late at night or in the morning. The showers are hot and strong. When I feel like biking, they have the recumbant bikes I like. They have toned down the volume of the music. And at Pin Klao, yes, I do like to watch the women do their things. Call me dog, but I enjoy the sights.

I am in pretty good shape for 51 years old, as those who have met me can attest. So despite what critics contend, California Fitness has helped do that for me.

So how did I not get anything of value? Sorry, I don't agree. I am happy with it, and that is all that matters.

[samran]

hasn't the owner skipped the country?

[PoorSucker]

hasn't the owner skipped the country?

Same as the Thai Elite card owners?

[redscouse]

I would see the owner many times as I worked in the same office block as their head office. I would also see his thai police bodyguards, I don't know why he needed them

[dave9988]

I would see the owner many times as I worked in the same office block as their head office. I would also see his thai police bodyguards, I don't know why he needed them

probably just an ego thing. i bet it worked wonders with the ladies.

btw, according to the fiscal report, he owns only 10% of the company now.

Edited February 27, 2009 by dave9988

[bonobo]

hasn't the owner skipped the country?

I saw him Saturday at Pin Klao.

[bkkjames]

I would see the owner many times as I worked in the same office block as their head office. I would also see his thai police bodyguards, I don't know why he needed them

probably just an ego thing. i bet it worked wonders with the ladies.

btw, according to the fiscal report, he owns only 10% of the company now.

on that note, I cant read thai but I assume the shareholder with 36+ % is major cineplex, are they running away from the country too?

[samran]

hasn't the owner skipped the country?

I saw him Saturday at Pin Klao.

I stand corrected...

[surface]

Does the Asoke branch always run out of hand towels in the afternoon, or do they simply not have them anymore? I brought it up with the manager since they had run out around 6PM and he motioned towards the reception area saying to contact the HQ. Shouldn't it be his job to bring up with HQ any issues that customers have? I told him it was pretty nasty that the place was packed full of sweaty smelly people and not one of them had a towel to wipe down the equipment or themselves. I didn't even get the Thai smile response for that one, just an odd stare before he walked away. It's all about customer service!

I didn't expect much since it's been obvious for a while now that they're on their way out, but I'm just wondering if I should buy hand towels to bring with me for as long as the place remains open, or if this just happens every once in a while.

Edited February 27, 2009 by surface

[Halfaboy]

When looking at the historical trading of the CAWOW shares at the Stock Exchange of Thailand I noticed a sharp decline in the value during the last couple of days.

Over the last few months shares were traded roughly between 2,0 and 2,5 baht, However on March 11th value went down from 2.10 to 1.47 Baht, on 13th of March to 1.04 Baht and today the shares are traded at 0,80 baht.

I think the end is near.....

[bkkjames]

When looking at the historical trading of the CAWOW shares at the Stock Exchange of Thailand I noticed a sharp decline in the value during the last couple of days.

Over the last few months shares were traded roughly between 2,0 and 2,5 baht, However on March 11th value went down from 2.10 to 1.47 Baht, on 13th of March to 1.04 Baht and today the shares are traded at 0,80 baht.

I think the end is near.....

Mate, I don't suppose you bothered to look at the whole SET performance as a comparison? Oh no, the end of all business on the SET is near

[Halfaboy]

When looking at the historical trading of the CAWOW shares at the Stock Exchange of Thailand I noticed a sharp decline in the value during the last couple of days.

Over the last few months shares were traded roughly between 2,0 and 2,5 baht, However on March 11th value went down from 2.10 to 1.47 Baht, on 13th of March to 1.04 Baht and today the shares are traded at 0,80 baht.

I think the end is near.....

Mate, I don't suppose you bothered to look at the whole SET performance as a comparison? Oh no, the end of all business on the SET is near

Some 62% decline in 4 days gives me thinking .....

[TonySoprano]

i hope not.

[Jimjim]

This place has always been BS. When they opened they would sell it to you at whatever price they could get you at. Start at 6000 baht/month and if you say ok, stupid you, you have to pay that. But you could get all the way down to 600 baht or less, and still get the same service. So, why would you want to be running on the treadmill next to a guy who said he paid 600 baht and you paid 6000? That would piss me off, as it would anybody. Therefore, utter BS.

[on-on]

The fitness chain pump and dump was pioneered in America (we're innovators!), so we're kind of familiar with it. I don't know if various European countries or Australia or the like went through it, but this is exactly what happened. Guy founds fitness chain, oversells memberships, everything's great. The chain begins expansion to make more money, runs up a ton of debt and suddenly the credit card rebilling complaints start rolling in to local authorities. The reps get pushier and pushier, the high pressure sales kick in and by now other companies have seen the model and started competing, so a price war develops. Unable to reap the fat profits when there's direct competition, the high pressure stuff gets worse, the rebilling gets worse and often the expansion continues as a way of keeping the appearance of a healthy company while hoping to build something worth selling. In the US, everyone who pulled this model eventually got picked up by a holding company or hedge fund or something, if not a larger gym chain, though I can't recall how many involved bankruptcies. Gold's Gym, 24 Hour Fitness and Bally's are the majors. 24 Hour Fitness has a number of private label brands across the world, of which I've heard California WOW is one, though I haven't verified that. You can google "24 Hour Fitness" or "Bally's" and "class action" for some examples of the consumer end of this.

I was a member of California WOW for about three years on a monthly plan that was supposed to have included access at any gym. When I moved across town and tried to go to the local outlet I was told "Silom only, cannot." I canceled my membership and wouldn't go back. I don't think the place is a bad deal if you're careful about the bargain you make up front, but be careful about their credit card billing and don't expect the promises during the sales process to actually be true (and don't give them your mobile number, heh). Though of course most people in the thread already know this. As for whether they're going out of business, it's tough to say in Thailand. In America they'd get absorbed or picked up by someone, that's the point of the business model. In Thailand, who knows?

What I'd really like is a neighborhood gym and there are a few around Bangkok, but there's not one just close enough to me yet (around Thong Lo, South side of Sukhumvit).

Edited March 17, 2009 by on-on

[sriracha john]

This place has always been BS. When they opened they would sell it to you at whatever price they could get you at. Start at 6000 baht/month and if you say ok, stupid you, you have to pay that. But you could get all the way down to 600 baht or less, and still get the same service. So, why would you want to be running on the treadmill next to a guy who said he paid 600 baht and you paid 6000? That would piss me off, as it would anybody.

The additional stress gained from that angry frustration is part of their cardio-workout.

[dave111223]

This place has always been BS. When they opened they would sell it to you at whatever price they could get you at. Start at 6000 baht/month and if you say ok, stupid you, you have to pay that. But you could get all the way down to 600 baht or less, and still get the same service. So, why would you want to be running on the treadmill next to a guy who said he paid 600 baht and you paid 6000? That would piss me off, as it would anybody.

The additional stress gained from that angry frustration is part of their cardio-workout.

All they need now is a guy who runs around and pulls your pants down while on the trendmill. Or slaps you in the face with an old fish.

[Siam International Legal Group]

Normally when a stock drops like that there is news out about the company. You can find it yourself when you search in google for California WOW and PricewaterhouseCoopers. Always conduct your due diligence.

Dennis Ramm

Siam Legal International

www.siam-legal.com

[BigSnake]

They should, some bad service over there from what I heard and experience.