So do you operate kinda as the CEO of all six gyms and then delegate like management positions to each one? How do you do that? Tell me a little bit about the staffing situation, you’ve created careers for people. But I dunno of another tinker maybe you do who owns six. I think some of them have like one thing and maybe they branched out into a second thing and it might be a gym where it might be a different thing completely like real estate or something. Like, I don’t for sure, but I don’t think there’s another tinker that owns six gyms. Most of the tinkerers I know a lot of the tinkerers kind of have their gyms on autopilot, but I am so just in love with fitness and the gym industry and gym management that I wanted to be involved with it 60, 70 hours a week.Īnd that makes sense. And so I started thinking, how do I create this fitness career where there’s no ceiling for my staff? And I started thinking, OK, they need to fill my position. And even for those head coaches or GMs, depending on what you would call ’em, there’s no ascension after that, I’m in their way. But these other part-time coaches, there’s no ascension. And I hit this point where I thought, you know, I’ve grown one gym and now two gyms, and I’ve provided two additional careers for people I really care about. I hit this point last year where my motive is I feel an immense pressure on my shoulders to provide meaningful careers for my staff members. Why buy three more? Is it the same answer or something else? So I’m gonna ask you the second question now is you buy one gym. I’m gonna give people perspective on that. The reason I ask is to give people perspective on what you would, you know, the price of starting a gym, like a CrossFit gym would be very different in terms of price to start as opposed to like a globo gym where you’ve got 7,000 machines that are all $10,000 a piece and so forth. So for all intents and purposes, we are a CrossFit gym without marketing the word CrossFit. And in most staff development meetings, the CrossFit level one level two methodology is taught and retaught and retaught. But we require that our group class coaches are certified through CrossFit, at least their level one. And there’s a few advantages to that, but the other five aren’t. Yeah, so we’re unaffiliated, well, one of the six gyms is affiliated. So that’s an interesting one, because again, tell me, first of all, RxFit, are you looking at like functional fitness kinda model CrossFit model? Or what kinda stuff do you do there? But the thing that you said there is kind of neatly stated where audience isn’t one of those intangibles where it doesn’t show up in a balance sheet, right? Yeah, yeah, yeah. We’ll get into that a little bit later in the show. That’s what he would do because often when you buy a gym, it comes with all sorts of other issues. That’s a really interesting response because Chris has talked about that. I know Cooper would rather start it from scratch, but you’re buying an audience and depending on how organized the previous gym owner is, or was, you have plus or minus a thousand contacts to immediately start having conversations with, and the best part about the purchase price is it’s not factored into the purchase price. Are you ready for a host of questions?Īll right. Over the last six months Tyler has the group from two gyms to six. ![]() ![]() And if you happen to be listening or watching on YouTube, please hit subscribe, hit like and ring the notifications bell so you don’t miss a thing. I’m gonna dig into the why and how of gym buying in this episode of Two-Brain Radio, please don’t forget to subscribe to this podcast. Email us: Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.Tyler Welch owns six gyms and he’s purchased four of them in the last six months.Support Conversations with Tyler by making a donation during this holiday season! Read a full transcript enhanced with helpful links, or watch the full video. They also evaluate Tyler’s pop culture picks from 2012 and answer listener questions from Twitter. On this special year-in-review episode, Tyler and producer Jeff Holmes talk about the past year on the show, including which guests he’d like to have on in 2023, what stands out to him now about his conversation with Sam Bankman-Fried in light of the collapse of FTX, the most popular and most underrated episodes of the year, what makes a guest authentic, why he hasn’t asked the “production function” question much this year, his essay on Marginal Revolution on the New Right, and what he’s working on next.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |