Training without Gyms: Quarantine Fitness

[Chark]

a bunch of gyms here closed down permanently , bunch of Golds and 24 hour fitness etc.. they can't operate with their overhead alongside all the stupid restrictions.
I'm sure this is true all over the country and not just here.

Are you open yet GH?

[GearHeaded]

Are you open yet GH?

yes . and I'm signing up new members daily of people coming from the gyms that closed down

I was lucky and survived the 3 month shutdown with no revenue because I have zero debt and built my gym with all cash and so have no business loans (I still have bills obviously , but no loans to pay)
a lot of these gyms had a ton of business debt and overhead and the loss of revenue crushed them.

gym equipment and facilities are super expensive. commercial cardio is thousands of dollars per piece ($6000 for a step mill), all the machines like a pec dec for example is around $4800.. it takes tons of money to get all this equipment and start a gym, yet member fees are usually only like 40-60$ per month . its a big financial risk starting a gym . and most these gyms closing down are in massive debt that they got in to build the facility and buy 500K worth of equipment. with all that debt they couldn't survive that 3 month shut down, just easier to file bankruptcy with all that debt and over head with no revenue coming in.


when building my gym , I decided not to get business loans at all. I sold my house, real estate investments, cashed out my 401k etc.. and went with cash rather then debt.
if I would not of done it that way , I probably wouldn't have survived this shutdown either

[OverpricedCreatine]

yes . and I'm signing up new members daily of people coming from the gyms that closed down

I was lucky and survived the 3 month shutdown with no revenue because I have zero debt and built my gym with all cash and so have no business loans (I still have bills obviously , but no loans to pay)
a lot of these gyms had a ton of business debt and overhead and the loss of revenue crushed them.

gym equipment and facilities are super expensive. commercial cardio is thousands of dollars per piece ($6000 for a step mill), all the machines like a pec dec for example is around $4800.. it takes tons of money to get all this equipment and start a gym, yet member fees are usually only like 40-60$ per month . its a big financial risk starting a gym . and most these gyms closing down are in massive debt that they got in to build the facility and buy 500K worth of equipment. with all that debt they couldn't survive that 3 month shut down, just easier to file bankruptcy with all that debt and over head with no revenue coming in.


when building my gym , I decided not to get business loans at all. I sold my house, real estate investments, cashed out my 401k etc.. and went with cash rather then debt.
if I would not of done it that way , I probably wouldn't have survived this shutdown either

I'll be doing something similar once gyms open outside the city I live in. There's a small nonchain gym in my girlfriend's town. As soon as they get the greenlight to open I'll be leaving my city and throwing cash at them to let me workout.