Call me crazy but things in NY do not look as gloomy as they have. Ok, that is a low bar but hear me out.
Schools are open, restaurants are opening at 25 % indoor capacity, cases are down to the hundreds per a day ( ok there is the issue with having an incompetent mayor and dont get me started on the federal level)
But most importantly, I feel that people are more hopeful. Don’t get me wrong, there is still mass unemployment, people leaving the city , many are hungry but this has the feel of a plateau.
So if this is the nadir then there must be a recovery…at some point .
What does this mean for the gym industry and how can we capitalize on the seismic shift?
Some gyms will not make it and that’s ok. Not every business is worth saving, better things will arise.
If your gym does not stand for something, you will not be around much longer.
In line with Warren Buffet’s philosophy (and my degenerate gambling nature) I am inclined to buy now that there is blood in the water. Buying new equipment that is.
As a first step, we will add the attached rack to the gym as soon as it is back in stock.
Why?
- It looks cool. Which is, of course, the ultimate reason to buy anything.
2. It makes sense. Equipment and financing are as cheap as can be.
3.. It is a statement. Investing in the gym means that we are not going anywhere, we are actually upgrading the gym for you.
4. It is practical. The virus will be with us for a while, so working in/sharing equipment is not in the cards. Doubling up on lat pulldown, cable cross, low row etc only makes sense if you believe in your business.
I highly recommend you come check it out!
Maik
