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Post by determined1 on Mar 16, 2018 13:19:49 GMT
In one of the trade rags this month they focused on workout anytime. I read all of this stuff looking for ideas. I found this article a bit difficult to swallow. In it they claimed that they started with one 3500sf club and did $800K for the year. This is what I find hard to believe. The reason being that if you break that down it comes out to $66K/month. With a membership at $20/month that means you have about 3,300 members. I just find that hard to believe. I'd have to imagine that there would be wait lines for everything. They say they're no frills, so I'm guessing that $800K is primarily memberships.
Sorry, but I call BS.
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mikef
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Post by mikef on Mar 17, 2018 1:20:48 GMT
I'm waiting for their 2017 fdd to come out. Should be any day now. Not much is known about the early doings of this company other than it was founded by some former Bally's executives. I'll brush up when the report is released. The club owners I've spoken with over the last year have all told similar stories. They are seeking multiunit franchisees much like Planet Fitness has been doing. They don't want the single unit guys. Breakeven for most locations is around 1,200 members.
If you could post a link to the article that would be helpful.
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mikef
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Post by mikef on Mar 17, 2018 4:32:51 GMT
"In one of the trade rags this month they focused on workout anytime."
My bad. I didn't fully read your post. All articles in Club Solutions Magazine about fitness franchises are Puff Pieces.
No more, No less. Not worth the paper they're written on.
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Post by determined1 on Mar 17, 2018 4:54:27 GMT
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Post by snaplongtimer on Mar 17, 2018 14:48:50 GMT
Maybe it should be called 3-guys fitness. Sample the product boys omg. Can you get anymore out of shape? Did you check out that orange/white squared tile floor? Can I get a root beer float after my workout please? Reading through this article, it sure gives me snap flashbacks when I was interested in this no frills/affordable/owner-absentee concept. Except they go on to say the average club is now 5-8000 sqft and offers essentially everything. They all evolve into larger facilities that want to up their competition with unique offerings. Sound familiar? Snap started small as a footprint and is now out of control trying to push that smaller sqft guy out of the system. They also go on to say no way are they owned by an investor group....not to say we won't be looking for capital down the road. Whatever. I feel like we've all read this article 10 years ago.
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mikef
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Post by mikef on Mar 17, 2018 17:30:38 GMT
It's comical. There's a big hole in Steve Strickland's resume. / No mention of his time at Bally's? Can't imagine why anyone would omit that company from their resume. wink, wink. John Quattrocchi: No mention of Bally's on his resume either? / They started Workout Anytime in 1999? If you believe that, I've got a bridge for sale. |
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mikef
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Post by mikef on Mar 17, 2018 18:27:50 GMT
Georgia Business entity search lookup for Strickland:
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Post by snaplongtimer on Mar 17, 2018 19:14:17 GMT
Strickland was a trainer and salesman in the 70's. College educated. Bought 2 health clubs..had incredible success that Bally just had to recruit him for the Richard Simmons project and 10 years later found himself in fitness sales. Only till this point did he learn how to set up a gym? He must have been a disengaged owner for um-teen years. These guys look like deep pocket investors who watch from the sidelines. I would suggest luck was on their side for any early success. Otherwise, it would have been "3 Clowns and a Gym"
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Post by cheryl on Mar 20, 2018 12:43:29 GMT
Read the article. I agree their numbers look to be sprinkled with fairy dust. Create a good story, go out and try to find as many suckers as possible to buy into your fairy tale and swindle them out of their money. Maybe they should call it Barnum's gym.
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Post by Dale on Mar 30, 2018 22:54:27 GMT
Just got the issue. Interesting sidebar there was an article on the top 10 leading fitness companies and guess who wasn’t included. My how the mighty have fallen.
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