My Gym Just Went Bankrupt!
 

I can't say I didn't know it was coming... The owner has owned the place for 15+ years and it's been a staple in our town for over 20 years. The owner decided a girlfriend would be a good idea but unfortunately his wife didn't think the same thing.

He had to sell his house, his family moved away and his business got ran into the ground.

I went tonite to work out and sure enough the doors were locked, the lights were out and there was an emotional sign up to explain the closure.

Guy is in his 50's and I feel quite bad for him. :(

DH

P.S. I guess I am going shopping for a new gym tomorrow!

why not buy it

:pimp !!

if he only kept his pecker in his pants.

my gym's owned by Mr Richard the big teeth, no way its going to bankrupt, the same guy that owns Virgin airlines

maybe if you guys goto an extreme dodge ball game get all emotional, quit the team, take a bribe, meet lance armstrong, then get the currage to bet all your bribe money on your own team, win by default, and get 3 million dollars you can buy it back!!!

http://www.game-assault.com/projectionist/dodgeball.jpg

Sounds like oyu need to get yourself a bowflex now, they really do kick your ass.

that is sad to hear.

A step ahead of you
:winkwink:

damn that sucks

buy the place make it a nice gym, the way you like it, free porn or so :)

buy it, redo it. lightspeed gym baby

Yea buy it and run a special giving all the old members a free first month.. If you could do it fast it would be a instant money maker being he already had the members. Assuming you could do it real fast. Hell I bet you could work out a deal with the guy if he hasn't skipped town.

Gyms must be one of the most horrible businesses I can think of... next to non-fastfood restaurants.

Every time I walk into mine I wonder how the hell these guys are making any money. They probably aren't.

cheating is bad!

bump ...

Yep bad investment.

Why? All you have to do - buy those machenes, and pay the rent. And an instructor.
Restaurants are much more difficult! i agree

:1orglaugh :1orglaugh :1orglaugh

:1orglaugh good idea

she was right she took the money and left. In some countries it is not possible, because nobodu knows hoe much a person has. It is all a secret

:1orglaugh :1orglaugh

Come train with me DH - we'll get our bodies in tip top physical conditions for the lovely ladies of the Valhalla :winkwink:

http://www.businessnation.com/Busine...s.cgi?ID=10838

Golds Gym for Sale: Franchise Re-sale - East Lansing, MI
Very Simple Business To Run. In Business For 9 Years! Over 3000 Members.
Facilities: Totally remodeled in Dec. 05

Business Type:
Franchise

Business Started:
1997

# of Employees:
10

Gross:
$560,000

Net:
$100,000

Asking Price:
$600,000



I get a bit sceptical when somebody says it's "very simple to run". Sounds like a ton of headache for very low absolute return after all expenses (do not forget capital costs).

Did you know that each of those machines runs in the neighborhood of $8,000 - $30,000 :disgust

Gyms are risky. However, there has got to be at least some money in it for people that know how to run it and do it right. I have seen our local GOld's gym close a few years ago and reopen in a new location with a new owner.
There is actually a gym here that seems to be flourishing and with tons of members. It's not a large national chain, but it's got several locations in the surrounding 60-100 mi area. They seem to be doing very well.

they had to enact laws for gyms where im from to prevent them from opening up and shutting down

Look at a gym this way... 3000 members at between $30 and $50 a month that recurrs for at least a year.

Yeah, umm, sure... that's the definition of a terrible business.

I know a few people who are very wealthy from Gyms

sounds like dh is gonna be owning another property!

we think alike ;)

That sucks...

Mr. Romance