State of The Union- The Gym Industry & Gym Launch | Ep 219
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 7 July 2020
⏱️ 28 minutes
🧾️ Download transcript
Summary
Genuinely my interest is in making you money. Alex (@AlexHormozi) talks about the major changes that the fitness industry has experienced in the past few months. He also breaks down the events and offers insights into the current state of the industry.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:57) - Market outlook: rough year ahead due to current circumstances
(5:06) - Driving growth in fitness industry amidst new habits
(7:47) - Alex explains why his company adapted to online model
(13:51) - Online model surpasses gym revenue and profit in 4 months
(17:39) - Unknown if fitness industry improves; online model more scalable
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Transcript
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| 0:00.0 | Mozination real quick, if you are a business owner that has a big old business and wants to get to a much bigger business, |
| 0:06.1 | going to $50, $100,000 plus we would love to talk to you. |
| 0:09.5 | And if you like that or would like to hear more about it, go to acquisition.com and you can plan anywhere on the page |
| 0:14.3 | and talk to one of our team and see if we can help you get there. |
| 0:17.8 | Welcome to the Jim Secrets Podcast where you talk about how to get more customers, how to make more per customer, |
| 0:22.2 | and how to keep them longer. |
| 0:23.4 | And the many failures and lessons that we have learned along the way. |
| 0:26.8 | I hope you enjoy and subscribe. |
| 0:30.9 | Jim owners, happy Monday. Hope this video reaches you at a good time wherever you're at. |
| 0:36.9 | This is, I think this is a very important video that I want to make. |
| 0:40.8 | It's been on my mind for probably the last month or two, but it became apparent to me that we needed to |
| 0:46.6 | clearly state our position. |
| 0:50.0 | And so I think it starts with context of where the industry is at right now and then kind of how |
| 0:56.6 | Jim launch sees ourselves best supporting the industry and Jim owners within it. |
| 1:02.4 | So right now, as I see it from the various sources that I've collected, 25 to 30% of all independent |
| 1:09.2 | gyms have permanently closed. I believe, and I said at the very beginning, that I thought it would be |
| 1:14.9 | to 30, but I think I was wrong. I think I underestimated how many more gyms would actually not be |
| 1:22.1 | able to stay in business. And so I think that number may climb over the next six months to maybe |
| 1:26.9 | 40 or even 50% of independently owned and operated facilities. The reason that I wanted to start with |
| 1:34.4 | that is that in the world of investments and finance, they have a saying, which is, |
| 1:42.8 | in a, if you have, can pick between a strong operator and a weak market or a strong market with a |
| 1:50.8 | weak operator in both cases, the market wins, which is you can be the best, you know, entrepreneur |
... |
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