1280: COVID-19 – The Death of the Gym Industry?
Apr 27, 2020
In this episode, Sal, Adam & Justin discuss the future of the gym industry in the wake of the COVID-19 pandemic. Will it survive? This episode features the perspective of leaders in the gym industry, from the owner of a local personal training studio to the founder of 24 Hour Fitness.
- A conversation with Breann Mitchell, Director of The Bay Club Company.
- How are Bay Clubs handling the shut down right now both with staff and members? (2:30)
- The interesting strategy they have implemented and how it is working out. (3:45)
- What are they doing to bring value to members so they can keep paying dues? (4:28)
- Their plans for re-opening. (5:20)
- The outlook on the future of Bay Clubs. (7:14)
- A conversation with Scott Howell, CEO of Red Dot Fitness.
- How is Red Dot handling things at this moment? (7:45)
- Ways they’re bringing value and service to their clients to keep some revenue coming in. (9:53)
- How many members did they lose? (10:50)
- Their plans on re-opening when they get the green light. (12:08)
- Optimistic or pessimistic for the future? (13:25)
- A conversation with Jason Khalipa, CrossFit pioneer, and gym owner.
- How he is managing his business at the moment. (14:40)
- How he is working with his members. (15:58)
- Is he worried about the future of his business? (17:40)
- How will he move forward when things reopen? (18:38)
- Will he have to change his business model based on new restrictions? (19:20)
- Will the average CrossFit box die? (20:17)
- What does the future look like for the CrossFit box owner? (21:45)
- Switching to digital the way of the future? (23:13)
- A conversation with Brendon Ayanbadejo, Super Bowl Winner, and Orangetheory Fitness owner.
- How have his businesses been impacted? (24:23)
- Their plans for re-opening. (25:35)
- How will this affect their membership prices? (26:36)
- Is he fearful about the future? (27:06)
- How COVID-19 is affecting the new small business franchisee? (27:55)
- A conversation with Mark Mastrov, fitness empire builder of 24-Hour Fitness and current President/CEO at Fitness Holdings Inc.
- How have his businesses handled the shut-down? (29:00)
- Have they gone digital to try and bring in revenue? (30:03)
- How they plan on operating when allowed to re-open. (31:00)
- Creating a strong community and a healthy environment. (33:15)
- How will they profit with fewer people in their facilities? (34:37)
- Mark’s candid take on the impact of COVID-19. (36:20)
- What is the future of the entire gym industry? (37:18)
- A Mind Pump candid recap of the conversations had. (39:35)
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