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Post by snaplongtimer on Jun 24, 2017 13:30:25 GMT
Looking at Entrepreneur.com we are still in 125th place. All fitness franchises I have heard of are above us in ranking and the ones I have never heard of are below. lol
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Post by cheryl on Jun 24, 2017 19:54:50 GMT
Up 1 club in the US - Now 972
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Post by cheryl on Jul 7, 2017 15:00:46 GMT
Up 1 more club in the US - Now 973 (I feel sorry for those getting started)
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Post by snaplongtimer on Jul 7, 2017 15:49:50 GMT
I feel better already.
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Post by snaplongtimer on Jul 13, 2017 14:01:56 GMT
965....parachutes on please...
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Post by cheryl on Jul 14, 2017 10:14:08 GMT
Wow, that's a big one week drop. 8 clubs gone in 1 week. However, maybe they just miscalculated the original number of clubs open. As any franchisee knows snap can't get 1st grade math correct.
Another interesting thing is that the pop that was seen in the average club earnings a month or two ago has disappeared and gone right back to the trend line, which is flat at something like $12K or $15K
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Post by determined1 on Jul 14, 2017 20:07:20 GMT
That's odd. One would assume that those clubs were the least profitable, if they're gone the average should have gone up. Are successful clubs hitting the 5 or 10 year mark and bailing? Anyone know which clubs were removed from the list?
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Post by Dale on Jul 23, 2017 14:27:06 GMT
Not sure if anyone mentioned this yet but corporates flagship Chanhassen location touts that members have access to over 2,000 locations. Seems pretty hard to believe.
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Post by cheryl on Jul 23, 2017 16:40:54 GMT
snap corporate lists that number in a bunch of different areas. False advertising? Looks like another class action brewing.
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Post by snaplongtimer on Jul 23, 2017 16:46:56 GMT
There may be some on the moon, but nobody can go there to verify the claim..
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Post by greenergrass on Aug 10, 2017 0:37:52 GMT
Since I last checked early in July, Tennessee is down one and Georgia is up one. So a flat month.
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Post by snaplongtimer on Aug 10, 2017 14:15:06 GMT
lol Any "non-movement" of the total club count basically means a wash. A few clubs still opening and others closing. Net result 0.0
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Post by greenergrass on Aug 20, 2017 15:41:30 GMT
Here's a refresh on this brand we have to support because of our personal investments (money and time). Let's take a look back at this article: www.franchising.com/news/20080603_snap_fitness_announces_minority_equity_investment_.htmlPerhaps the biggest mistake by corporate, Peter and the downfall of this brand? The purpose of private equity (and I've seen this in another unrelated industry) is to make as much money (for themselves, not you) in a short period of time. Typical I think there is a five year exit plan. Consider where we were at the time of this PR, according to the article: "Fresh off its #3 ranking on Entrepreneur Magazine's list of Top New Franchises and recently ranked #1 on Franchise Market's Top 100 New Franchises, Snap Fitness (www.snapfitness.com) is experiencing phenomenal growth with more than 1,500 locations sold nationwide, newly opened locations in Canada and some 30-40 new stores added monthly." There is no talk of international locations. Nationwide: The USA. Summit ends up selling their stake in (you guessed it) five years www.altassets.net/private-equity-news/by-news-type/deal-news/summit-partners-prepares-snap-fitness-exit-after-five-year-holding.html "According to Snap Fitness CEO Peter Taunton, New York-based TZP bought the entire stake previously owned by Boston-based private equity firm Summit Partners—which said in November that it would be putting its shares up for sale. Taunton said TZP bought a portion of his shares as well." Now, since the PR which said there were more than 1500 locations in the US plus locations in Canada, lets review the most recent count for the USA, then Canada: USA: 964 Canada: 80 What happened to more than 500 US locations?! 1/3 of the locations from 2008 PR. And where will this brand be with TZP gets to the five year point and a new private equity firm comes along and has to suck more out of the franchisees (because that is where they are getting their money, isn't it?). My educated guess is that the modernization is driven by the private equity trying to squeeze as much as possible out of this business (you the franchisee). What are your thoughts on that?
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Post by greenergrass on Aug 20, 2017 16:01:57 GMT
Look at these two statements.
From the PR when Summit was purchasing their shares: ...experiencing phenomenal growth with more than 1,500 locations sold nationwide, newly opened locations in Canada and some 30-40 new stores added monthly."
From the PR that Summit was selling their share: Snap’s 24-hour clubs have grown to number almost 1,500 globally since it was founded a decade ago.
If you just consider the number of clubs, the PR (which I would think comes from corporate) first says there are more than 1500 locations. and then about five years later, the statement is that we have grown to almost 1,500 globally.
MORE than 1,500 locations to ALMOST 1,500 locations is not growth. LOL! A loss of 500 (1/3) in the US is more than a significant loss regardless of global growth.
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Post by determined1 on Aug 23, 2017 9:36:56 GMT
Down 1 more, 964
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