I am just finishing off a report for a client on another health club acquisition in Manchester. What’s very interesting about this one is the level of competition. Draw a circle three miles from the target club and how many competing facilities would you expect?…5…10…20…31. In fact, it’s 31. How things have changed in the past few years. I still vividly recall a conversation a few years back with Alan Fisher when he was the Chief Executive of Holmes Place PLC about a new club in Newbury, Berkshire. “What do you think of a Holmes Place club in Newbury” I said? He though about my idea for about two seconds and then said – “Ray, there’s already a health club in Newbury, there’s no room for a second”. Roll the clock forward and now club operators are `shoe horning` them in anywhere they can.