correct me if I'm wrong coach, but I have found the same thing...that most guys who run private gyms already own the whole building where the gym is located...leads me to believe that they are running the gym as a cash only business in which they are not losing money because they do not have to pay rent and are evading taxes due to all the cash generated going straight into their own pockets....thats just my take...If I owned a building I would open a small gym as well and just take cash for membership fees and put it right in my pocket...paying only for water and lights.....I own the building and would not have to pay myself rent....I would think I would be making a killing
Really? We must have over a hundred private gyms in our city and I don't know one that owns theirs. Not even the big commercial gyms. In our case we had no choice but to move because we lost our lease. Even if we wanted to buy we couldn't displace our clientele for the time it would take for an escrow close. So it's either lease or go out of business. We signed a five year lease with another five year option. However the property is privately listed (from what I've been told) but at over $2mil it's waay out of my range.
If someone does own the building it's doubtful they paid cash for it. They still have a mortgage to pay. As for the highlighted part....why? that makes no sense. And to get into politics here, but you're far left liberal, you know, all for taxing the hell out people. That wasn't meant as an insult.
