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Post by snaplongtimer on Mar 15, 2018 14:23:54 GMT
Clubs that are closed already it's too late. Equipment is usually sold by then awaiting pickup. Plus you lost all their members. I would think the best bet is finding a club that won't be renewing their contract and speak to them well ahead of time. In 3 to 5 years there may be plenty of options.
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Post by cheryl on Mar 19, 2018 13:44:43 GMT
Down 1 more to 934
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Post by neglected on Mar 19, 2018 19:45:33 GMT
10 year Owner of Two Snaps in the East Filed for Bankruptcy. Closed both clubs.
'Modernized' both clubs a year of so ago.
I will post this info on the 'Modernization Thread'.
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Post by iwishicoulddoitover on Mar 20, 2018 2:53:36 GMT
Wow! In less than a year we went from:
4/27/17 It's 985 US Clubs 3/19/18 It's Down 1 more to 934
I'm speechless
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Post by cheryl on Mar 20, 2018 12:32:08 GMT
With the 2 New York clubs closed it's actually 932. Here's what's interesting. Those 2 were "modernized". I believe 7 of the others which have closed since we started tracking this were "modernized" as well. That makes 9. That's roughly 1% of overall clubs that existed were modernized and closed. Now the bigger question is how many clubs have "modernized"? (Not new ones coming online, but existing clubs) I'd venture to say it's probably about 30. That means that 30% of the clubs which "modernized" wound up having to close their doors. Let's say that 90 have modernized. That's still 10%. That's bloody awful. This proves exactly what we've been saying and that is that snap doesn't have a clue on anything related to this space. They're busy trying to be software developers that they've completely lost focus of the fitness industry. They're looking at the present (making $30K to $40K on modernizing) that they've completely overlooked the future, which is the number of clubs.
I'm also wondering how many clubs were profitable before modernizing and how many were struggling. Of those struggling clubs how many were forced to modernize and were given an ultimatum of modernize or shut down. Conveniently snap finance stepped in and approved a loan to modernize with no sound financial backing. Simply going after personal property as collateral, thereby sucking out any remaining capital from struggling franchisees.
Make no mistake, I view snap corporate as the greediest and most unscrupulous people out there and would put nothing past them. If a man was dying on the street they'd opt to go through his pockets rather than lend a hand.
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Post by greenergrass on Mar 20, 2018 12:49:23 GMT
"capital" - life savings; home equity....if you have money, they will take it. I would be better off had I taken a $10/hour job vs year being a franchisee over the years.
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Post by determined1 on Mar 30, 2018 20:21:41 GMT
Funny, it's now up to 935. However, those 2 NY clubs are still listed on the locations. Someone's fibbing about the numbers. If it was updated to reflect a new club then those other 2 clubs should have been removed. It's not unlike snap to falsify numbers. After all take a look at a bunch of their literature. It still states over 2000 clubs. When asked they'll say that number includes "planned" clubs. Great, then I'm a billionaire. Maybe not now, but I plan to be. There seems to be very little honest about snap.
Everyone off the cliff - Franchisees first
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Post by snaplongtimer on Apr 4, 2018 14:38:38 GMT
I don't think they are in a hurry to adjust the numbers. Probably a side job for someone at corp. 932 now and I still see one listed that closed recently.
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Post by cheryl on Apr 4, 2018 15:41:13 GMT
Odd, because yesterday (or a day or so ago) this was up to 936. Apparently clubs that are closing aren't being reported right away, while clubs that are opening are put on there immediately. I guess this is a way to mask just how many clubs in the US are closing their doors.
The effect is that snap can dishonestly claim that the number is relatively stable, while the truth is that they're losing a lot of clubs and trying to bring new ones online. However, those new clubs are unproven in their ability to generate revenue.
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Post by snaplongtimer on Apr 4, 2018 16:23:10 GMT
Well actually spoke too soon. 922. They must have read your post Cheryl.
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Post by greenergrass on Apr 4, 2018 16:37:27 GMT
I remember someone posting this before. The locations are listed at www.snapfitness.com/locationsI can't remember how many US locations there were a few months ago. So I'm not sure if the number has changed or stayed the same 4/27/17 It's 985 US Clubs Not sure how many are corporate and how many are franchisees. I figure with this subject line it'll be easier to find and track In about a year, we have a net loss of 63 locations in the US. This is alarming! But really, it's not unexpected, is it. This is more than a 6% decline in a year.
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Post by greenergrass on Apr 4, 2018 16:59:55 GMT
Georgia - On FB (the BPS page), it's mentioned there is a new club opened in Alpharetta, GA. In April 2017, GA had 23 locations. Today, GA has 23 locations.
NY and NJ both lost two since last month.
Biggest loser in the past month (pun intended) is MI which is down 4 since last month.
MN lost one.
Biggest net losers over the past year: TX -9 MI -7 WI -6
Some might (or will) say we spend too much time on this and we should put our efforts toward bettering our investments that were made on behalf of Snap Fitness. For me, I realize it is a huge loss of personal investment (time and money) and this strengthens my resolve to put my efforts somewhere else (which they have been for awhile now).
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Post by cheryl on Apr 4, 2018 20:42:41 GMT
Wait, on the snap fitness web site it claims you'll have access to OVER 2,000 clubs. If a club is only in a "planned" state can you really get access to it?
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Post by neglected on Apr 4, 2018 21:30:11 GMT
Excellent Point! False Advertisement. Grossly False.
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Post by greenergrass on Apr 4, 2018 22:32:19 GMT
Well, technically you'll is you will. So it does not mean you do have access but you WILL have access, eventually. Or so they believe. It's true. It's a spin on words.
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