• /
  • reinvesting

Tag archive for reinvesting

How Can Your Gym Firm Up Its Financial Future While Clients Social Distance?

If scientists are correct, COVID-19 is here to stay. According to Dr. Gregory Poland, director of Mayo Clinic's Vaccine Research Group, respiratory viruses and their accompanying hospital stays are expected to be a seasonal threat to individuals across the world. Even now, an emerging virus from China, the H1N1 influenza virus, looms in our future. For gyms, fitness studios, and health clubs, navigating this tricky territory is job number one, as their business model relies on individuals congregating in a social, highly physical, generally closed environment. To keep members safe, gym owners must implement social distancing measures that, in and [...]

Dynasty Buffet signage Fail with burned out lights

Reinvesting – Functional Obsolescence

Beating Functional Obsolescence Gym ownership is actually a pretty dynamic business, in case you didn't already know that (you're welcome). Rapidly changing trends mean that you always have to be on the lookout for a shift in what the membership expects. On a more basic level you need to reinvest to protect your assets, as they say. You can't have old, broken-down exercise machines that just take up space. You can't afford to have shabby signage outside with burnt out lights or missing letters. That is why, as a gym owner who sees other gym operations all the time, I'm [...]