State of The Union- The Gym Industry & Gym Launch | Ep 220

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 7 July 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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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 Gym Secrets Podcast where you can listen in on the Top 1% of Gym Owners to hear the secrets of what they are doing differently to get more customers, make more profit per customer, keep them longer, and do it all without sacrificing their personal lives. We've got roll up your sleeves kind of hustle with a little bit of cleverness and a lot of heart. We are 1% of gym owners and this is our podcast. Hosted by Alex Hormozi.

Timestamps:

(2:14) - Where is the market of the fitness industry going? Alex shares how it seems like it will be a rough year ahead given the current circumstances his predictions

(6:23) - So how do the players in the fitness industry game continue to drive growth? How do they still keep the business running especially with new habits forming like working from home, etc?

(9:04) - Alex shares the reason why he didn’t have an online business model until COVID, the 3 primary models that exist for online businesses, and how his company has been able to adapt to this model

(15:18) - If you give the model around four months to run, it is going to be far superior to the revenue and profit that you were able to make at the gym, except it has no signs of slowing down. He also shares Gym Launch’s stance on the current situation

(18:56) - It’s unknown whether or not the fitness industry’s situation will improve in 2021. However, Alex believes that this online model is way more scalable and profitable. He continues to set his goal of always making people the most money possible & to give them the freedom and security they desire

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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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