Daily Update
More gym franchises are considering bankruptcy. That means there has never been a better time to be independent. You have the flexibility to run your business any way you want. You don’t have to open until you’re ready. You can change to an online model. You aren’t locked in.
The greatest argument for owning a franchise two months ago is now the greatest argument against it.
News
The Les Mills gym chain has asked members to start paying fees in New Zealand despite receiving from the government wage subsidies of just over NZ$2.34 million for 376 Les Mills New Zealand Ltd. staff and NZ$233,347 for 34 Les Mills International Ltd. staff.
No, the gyms are not open. The company also offered free virtual workouts to everyone online—not just to members.
Nzherald.co: “Les Mills Asks Members to Restart Payments Despite Still Being Closed”
Today’s Tactic
Tell a story about a client working out at home. You own a stage. Today, share the spotlight.
Key Resources
Chris Cooper: “Fragile Franchises: Why It’s a Great Time to Be an Independent Gym Owner”
Chris Cooper: “Why We Don’t Sell Franchises”
