Friday, December 03, 2010

Feng Shui Market

A Taiwan Master was asked why did he share his secrets and experiences of Feng Shui openly and is not afraid of the students competing with him after they graduated from his programme. I find his explanation interesting. He said that the demand for feng shui services is simply too high in Taiwan and the rate that Feng Shui consultants are produced each year is way too slow to meet the demand. Even if he is to do a new consultation every single day, he can only do 365 cases in a year but there are thousands more cases unattended to. It takes years of training and experience to offer Feng Shui services effectively, so each year the numbers of practitioners who go professional is very low, compared to the demand in the market.

So what about the Singapore market?
I did an estimate of the demand for such services below:

Disclaimer: This is based on the statistics I found online and thus it is a very very very rough estimate.

Resale Flats:
Resale Cases Registered between 1st Quarter to 4th Quarter 2008: 28,000 (28,419 to be exact and this is the lowest out of the last 4 years since 2007)

New Flats:
In the next five years, HDB estimates that it would need to offer between 10,000 to 12,000 new flats per year to meet demand. We take the lower figure to do the maths.

Hence, this would mean that at least 38,000 flats are transacted per annum. We then less off the 25% (24.8% to be exact, based on Wikipedia) of non-Chinese (ok, this is assuming that only Chinese use feng shui services which is not true, but we are aiming to count the minimum here). Then out of this amount, we make the assumption that 80% (pure guessing as there’s no stats on this) of these households do not seek feng shui services and deduct this percentage, we will get 5,700 of households that will engage feng shui services each year. That would mean 15 households a day. And we are only talking about HDB flats alone, not counting landed properties, condominium, etc, yet.

Which means we need 15 masters doing 1 audit for every SINGLE day (including weekends) in order to meet the local market demand.

Very interesting…Maybe you can do the calculation yourself if have more accurate data to work with.

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