I'm closing my doors tomorrow after running a 20,000sf Health Club for the past two years...

I'm closing my doors tomorrow after running a 20,000sf Health Club for the past two years. Couldn't get cash flow positive quick enough before the money ran out... tried to be a frontier business in a new state but didn't market and sell well enough. Now I'm out 1.6m, the rest is with the financing company. I don't know, ask me a question or something

Sell me a squat rack and bench plus weights for 0.2 btc

If you were to have done it again, what would you have done differently?

Didn't market and sell well enough? Where were you located? Was it not a metropolitan area?

at least you tried

most of us don't even get that far

Why would you ever start a business to serve a flaky passing cyclical fad that requires huge initial investment and space?

How the fuck does planet fitness manage to operate??

why so big so fast?

>
Would have looked for a less competitive market, the best way to make money is a monopoly, competition ruins margins . Just because you can do it friendlier, cleaner, and for a lower price doesn't mean you can win.

Just outside a major city with good population density, offered a $20 a month full size gym membership with no pool, sport court, or sana to get rid of the 'unfavorable' members. For that reason people loved us... got within 80% of the necessary members to be CFP before the money ran out

Jesus Christ.

Brick and mortar man. I don't know how you guys do it.

I'm a tradesman and all I need is my tools and my truck.

> on track for 100k this year

Planet fitness markets itself to people who won't actually work out by telling them what they want to hear. Those people signup for multiple months but end up only showing up a few times so expense per sale is incredibly low.

Have you not seen many gyms come and go?
If I had a dollar....

Please don't tell me you opened in the same space as a former gym...

The sheer number of people who came up to me on a monthly basis telling me how joining and working out with the friendly staff and clean population literally pulled them away from suicide was so surprising. I think people inherently want to be better, those that were taking the first steps I guess often ended up in my gym

Expense for a gym largely stays the same regardless if anyone is there or not. Huge sq footage in typically retailish areas is not cheap.

I hear that, I just think that's an emotional decision more than a sound business decision.

Whats next?

Not us, but PFs rely on people joining and than forgetting that their being charged $10 a month. In fact, PF, has been throwing away a lot of their bench presses and free weights to deter the predator crowd to encourage more woman to join. All they have is ellipticals, treadmills, and stair climbers...

The math was right. Doesn't everyone dream of a 1.6m business that throws off 800k a year at full speed?

Across from a Golds Gym, we're the first gym to fail in our five miles in 50+ years

What was the main reason your business failed? Not enough clientele? What would you have done differently last year?

Probably suicide.
I'm just fuckin with you, wouldn't even consider it if I was a quadriplegic. NOW I get to spend the next year fighting off creditors

What the shit? Venice Beach?

Here in the bay area gyms come and go like clockwork. They are now taking over industrial space and driving prices up, but it will be nice when that falls out.

Take the lessons learned and retool for the next step, most businessmen fail first time very natural

Should have fired my wife.
That's not a joke either, I may have actually made it without her poising the system

Shit man what'd she do? Literally 9/10 older married guys that I talk to wish they never got married. Wtf

You've loved and lost which is more than most can say, and are certainly wiser for it.

There's gotta be something you picked up on or have an interest in. If my biz ever fails I know exactly what the next one is.

We're outside a major city with a very granola population. Could have gone for the gym rat crowd, but than again where there's a crowd there's competition

I know what #2 is going to be for sure. IF you're a business builder it's in your blood for sure

I would bend to her, but she wouldn't bend to me. What is caused is her going behind my back with employees, refusing to act on things, her signing off on things with out me knowing. It really hurt our marketing and normal activities

well maybe now that you're financially ruined you should take the opportunity to divorce her?

idk if my wife/girlfriend or even non-romantic close friend was directly responsible for my financial ruin I wouldn't be able to look at them anymore.

fuck that's rough man. Shouldn't mix business with pleasure, though your wife should have known her place by now :/ I hope things work out for you user, the toughest times make us stronger and smarter for the future.