|
Post by snaplongtimer on Aug 23, 2017 14:35:14 GMT
From what I hear, I believe it will be 963 very soon.
|
|
|
Post by iwishicoulddoitover on Sept 3, 2017 2:52:07 GMT
Wow, Just WOW 958!
|
|
|
Post by snaplongtimer on Sept 3, 2017 14:55:54 GMT
I believe this number is probably updated once in a while. Nevertheless, the trend is disturbing. I just don't want to be the last one shutting off the lights.
|
|
|
Post by greenergrass on Sept 3, 2017 16:50:51 GMT
I'm sure they will keep the brand and continue charging even when you are the last one in existence. LOL!
|
|
|
Post by iwishicoulddoitover on Sept 4, 2017 4:42:20 GMT
If it keeps happening like this, it won't be long before we are all shutting off the lights. When locations close around us, it damages the brand as customers won't trust the ones that are open to stick around.
|
|
|
Post by greenergrass on Sept 4, 2017 15:02:29 GMT
It sure seems possible this is already the sentiment and I'm sure if someone walks into an Anytime and mentions Snap Fitness, ATF will be quick to point out the facts which are the numbers for Snap Fitness vs ATF, dwindling vs growing. I would guess we have all had those reciprocal members who left us because some of the locations they were using are now gone, but they have ATF or PF. And to think someone thinks wood floors and red walls will change this trend in the US. Actually, it's not that. It seems more likely that it's a private equity firm hoping to get as much money out of everyone (existing franchisees) before it all collapses. And don't worry. If you want to leave the brand, corporate hopes, no expects they will find someone new to step in. The new franchisee investor will pay up $35K plus modernization ($25K). That is a lot less than we all paid for start up costs and zero members when we opened our doors.
|
|
|
Post by cheryl on Sept 4, 2017 18:28:10 GMT
Everything snap does has a short term goal and the long term isn't taken into account. You rape the franchisees on an inadequate, bug infested, billing system along with other over priced fees (eg national marketing, website, online training center (now non-existant, but still being charged), etc) and they're all going to go away as soon as the opportunity arises. What would be interesting is to see the average club revenue now. Is it going up or down. If it's going down then the profitable clubs are bailing. If it's going up then the non-profitable clubs are closing. So far I've seen both. I'm sure at some point the snap mafia will remove that visibility.
|
|
|
Post by Dale on Sept 5, 2017 15:03:24 GMT
Cheryl...take a look at the score card on the portal. The average club billed only 273 memberships in August. The average revenue was $14,779. Tough to pay the rent, electricity, exorbitant snap fees to name a few with those numbers. Sure there are some, maybe 20% of clubs making decent money, but the majority are just breaking even or losing money. Tough to sell new clubs with those numbers. Especially with all of the feedback folks see on here. Makes me wonder what kind of smoke show they sold Timmy on.
|
|
|
Post by snaplongtimer on Sept 5, 2017 23:04:05 GMT
957. Looks like Texas lost one.
|
|
|
Post by cheryl on Sept 6, 2017 1:42:14 GMT
Dale, that number seems to hover around $15K. The one month 4/17 it shot up to 18K, but then dropped right back down to the 15K area. It'll be interesting to see what the September numbers look like with the big drop in clubs.
|
|
|
Post by greenergrass on Sept 6, 2017 13:03:10 GMT
If I had income at $14K monthly, I would be doing great. I'm nowhere near that so I will close each club I own as soon as I can. And with each closing, that average will increase. I prefer to do this versus paying Snap fitness corporate (the private equity firm) all of their inflated prices for modernization.
I've heard from other owners that corporate is charging $500 for CAD services. This is absurd.
|
|
|
Post by snaplongtimer on Sept 6, 2017 13:44:45 GMT
I agree and wish I had that monthly income. Going by the average club revenue numbers above obviously pt and other revenue is included otherwise it comes to $54/membership. Personally, I could care less about the "average revenue" displayed. Is it supposed to make the rest of us look like losers or we are doing something wrong? If anything, it would make me want to close. You take a club that's grossing $40,000/mo and then a hand full of others that are below $10,000/mo and do the math. That can average to $14k. Drop the lowest performer of that bunch and the average goes up $2,000. It's basically a meaningless number. It does nothing to make me want to work any harder than I do.
|
|
|
Post by greenergrass on Sept 6, 2017 22:11:07 GMT
Let's take a look back at this PR: www.prnewswire.com/news-releases/snap-fitness-poised-for-accelerated-growth-with-new-investment-239411271.htmlIt was announced in January 2014 that Snap Fitmess announced that it has taken on an investment from TZP Capital Partners II, L.P. ("TZP"), a private equity fund. This is nearly four years ago. I've heard it's typical for these private equity firms to take their money and run at the five year point. That's what Summit Partners did. So (as I may already have mentioned), it is not surprising, this push for modernization. They need to come out ahead on their investment. Modernization is how they will do it. $500 per club for CAD fees, new flooring (that is only available through Snap Fitness?), required subscription fees (FOD, MyZone: $300/month per club), etc. According to this 2014 PR (which is quite old), we are experiencing phenomenal growth with nearly 2,000 clubs worldwide and approximately 20-25 new clubs added montly. Outside of the US, how many clubs are there? Can't possibly be 1,000. So ~ January 2019, will there be another turnover? A new private equity? What will be reported about our statistics at that time?
|
|
|
Post by cheryl on Sept 7, 2017 2:32:58 GMT
A couple good points. Only now after snaplongtimer's post do I see that it states "total revenue" collected. I always thought this was just membership dollars. I feel kinda dumb now for going so long without seeing that. Also, never did the math which would make it obvious that it can't be just memberships. What are CAD fees? I take CAD to mean computer aided design, which I can't see relating to fitness, unless you want a really nice layout of your club. My point with the revenue numbers is that it can be used to determine if successful clubs are bailing (the average goes down) or the unsuccessful ones are being pruned (the number goes up). Having it be a total number makes that a bit more difficult to determine. The blip in April 2017 was most likely an anomaly, and not recurring. (based on the fact that it reverted to the mean) However, if the average goes one direction and remains there then you can get an idea as to which types of clubs are jettisoning the franchise. Or maybe as a successful leaves they put the screws to an unsuccessful club to average things out.
|
|
|
Post by greenergrass on Sept 8, 2017 0:12:14 GMT
Yes, CAD is computer aided design. Ridiculous reasons for charging high fees for this.
|
|