Coronavirus - Gold's Gyms Closing 30+ locations

[Ron]

Gold’s Gym permanently closes 30 gyms across the US, due to coronavirus crisis.

Gold’s Gym is closing about 30 locations across the U.S. including gyms in Alabama, St. Louis, and Colorado Springs, Colorado, due to the impact of the novel coronavirus. "The COVID-19-related closures have caused us to reassess the viability of some company-owned locations," reads a statement by the company on Twitter.




https://www.usatoday.com/story/money/2020/04/16/covid-19-closures-golds-gym-closes-30-locations-due-coronavirus/5143831002/

[NaturalWonder83]

Holy crap
What will be going in the Golds Venice building?
Are the powerhouse gyms filing bankruptcy as well Ron?

[Hypertrophy]

Good! Gold’s Gym is run by a bunch of dirtbags anyways. They were still charging membership fees while they are shutdown. Go read the comments on Gold’s Instagram page- lol!

[Vince B]

Holy crap
What will be going in the Golds Venice building?
Are the powerhouse gyms filing bankruptcy as well Ron?

The building in Venice is owned by Google. They have a big development going in that area. So far we haven't heard of plans to close the facility.

Google knows that Golds Gym has a long history and a big following. Plus Google employees will train there.

[G_Thang]

Gold's closes.  24, Crunch or LA will buy the assets.  Gyms are reoccurring income. 

[TTfit]

They didn't cater to the general public. They catered to a niche market. "Bodybuilders and fitness peeps." 
You need to cater to the typical joe schmoe obeseo. Offer free pizza once a month. That's what my gym does. It appeals to the average obese joe. Then they get a membership and come in once a month. It's a win for them, a win for me and a win for the gym.

[SF1900]

They didn't cater to the general public. They catered to a niche market. "Bodybuilders and fitness peeps." 
You need to cater to the typical joe schmoe obeseo. Offer free pizza once a month. That's what my gym does. It appeals to the average obese joe. Then they get a membership and come in once a month. It's a win for them, a win for me and a win for the gym.

Mmmmmm free pizza!

[US MUSL]

Within a day of the announcement they were removing equipment from the multiple Golds Gyms in my area.

[friedchickendinner]

Within a day of the announcement they were removing equipment from the multiple Golds Gyms in my area.

Nice, which ones did you buy for your home gym?

[MAXX]

Crazy times

[Never1AShow]

They didn't cater to the general public. They catered to a niche market. "Bodybuilders and fitness peeps." 
You need to cater to the typical joe schmoe obeseo. Offer free pizza once a month. That's what my gym does. It appeals to the average obese joe. Then they get a membership and come in once a month. It's a win for them, a win for me and a win for the gym.

I'm not sure the gym business is a viable profit maker without scams and tricks to get you to sign up for other things.  Tricking people into keeping a gym membership isn't an honorable business anyway

[IroNat]

Fool's Golds.

[SF1900]

I'm not sure the gym business is a viable profit maker without scams and tricks to get you to sign up for other things.  Tricking people into keeping a gym membership isn't an honorable business anyway

Eventually, most gyms will be obsolete (24, NYSC, Golds, Powerhouse, LAFitness).

The $10 a month gyms and CrossFit gyms will continue on.

[Never1AShow]

Eventually, most gyms will be obsolete (24, NYSC, Golds, Powerhouse, LAFitness).

The $10 a month gyms and CrossFit gyms will continue on.

The $10 a month gyms are the worst scams.  They will milk you for all sorts of extras and fees.  How on earth else can they pay the rent, even in a shithole city or location

[Board_SHERIF]

the weak shall perish, good riddance .

[SF1900]

The $10 a month gyms are the worst scams.  They will milk you for all sorts of extras and fees.  How on earth else can they pay the rent, even in a shithole city or location

What extra fees? I belonged to both Crunch and Planet Fitness for $10.00 a month. Every month, nothing else was taken out of my account.

[TTfit]

The $10 a month gyms are the worst scams.  They will milk you for all sorts of extras and fees.  How on earth else can they pay the rent, even in a shithole city or location

I'm in a 10 dollar a month gym. Best change I made compared to my $50 per month gym. Downsides....no towels or showers. Not enough weight equipment.

Besides lack of equipment everything else is great.

You can pay extra fees for tanning booth, massage chairs/tables. But otherwise it's an even 10 and the gym is 24 hours. If you don't go at peak hours you can get the equipment you want usually.

I suspect they stay in business because they have a million billion members. Which is a pain at peak hours but still worth it.

[Hypertrophy]

Went and bought a power rack, bench and a 300 pound Olympic weight set from NY Barbell on Friday. Total cost: about $800. Don't need Gold's anymore. Stuff from NY Barbell will last forever.

it really has become a question for time for me anyways. Going to Gold's I found I had to wait around half the time for the Instagram generation to finish taking selfies before they would free up the weights or machines. This WuFlu death virus simply made the decision for me.

[Megalodon]

24 Hour Fitness could eclipse 30+

[Hypertrophy]

The only virus Gold's had was "badmanagementitis"

[Primemuscle]

The only virus Gold's had was "badmanagementitis"

Badmangementitis is a great word! Too bad there's no vaccine for it.

[stuntmovie]

Word here in Vegas is that 98 Gold's within the US will be or are closing down for good and that 24 Hour will be going bankrupt.

Any truth to that?

[Primemuscle]

Word here in Vegas is that 98 Gold's within the US will be or are closing down for good and that 24 Hour will be going bankrupt.

Any truth to that?

This is the second post I've read here today suggesting 24 Hour Fitness was going bust.....so it must be true.

https://www.cnbc.com/2020/04/18/24-hour-fitness-weighs-bankruptcy-amid-coronavirus-pandemic.html

[SF1900]

I'm in a 10 dollar a month gym. Best change I made compared to my $50 per month gym. Downsides....no towels or showers. Not enough weight equipment.

Besides lack of equipment everything else is great.

You can pay extra fees for tanning booth, massage chairs/tables. But otherwise it's an even 10 and the gym is 24 hours. If you don't go at peak hours you can get the equipment you want usually.

I suspect they stay in business because they have a million billion members. Which is a pain at peak hours but still worth it.

I don't have a clue what Lurker is referring to.

I joined Planet Fitness for 10 a month for one dollar down, and every month, $10 is removed from my account. Nothing more, nothing less.

[joswift]

Its amazing how some business just fold after a few weeks of not trading, some bars and restaurants have gone after two weeks, why the fuck would you bother starting a business that couldn't sustain itself for such a short period of time, they must be putting all that work in to just about break even at best each week.