Bally's files Bankruptcy.Closes 26 health clubs

[Dzone]

Are you kidding me? I had no idea. Makes me wonder if my friends who own gyms are feeding me a line of bull when they say their gyms are "recession proof". Anybody have any thoughts on this?

http://www.fit-pro.com/ME2/dirmod.asp?sid=&nm=&type=news&mod=News&mid=9A02E3B96F2A415ABC72CB5F516B4C10&tier=3&nid=EE6F907B143246BFB857B5D031C99B02

[daved150]

Re: Bally's files Bankruptcy.Closes 26 health clubs

idk...all the gyms up here say they are doing well....i got a aquaintence (friend of a friend thing) that owns 2 snap fitness and is about to go after a 3rd...cant be all bad!

[Doink the clown]

Re: Bally's files Bankruptcy.Closes 26 health clubs

They closed the one that was nearby me last year.

[alluprbdy]

Re: Bally's files Bankruptcy.Closes 26 health clubs

I dont think gyms in general are recession proof, I think the gyms with pools and other bs you dont need are gonna be hurting b/c of the extra cost. Ballys failed bc they had the worst customer service in the business. I remember when I was a trainer there they said that ballys gets more new members each year than any other gym in the US, however they lose the most per year as well. If I remember right it was about 1,000,000 new members a year but teh same lost.

[Dzone]

Re: Bally's files Bankruptcy.Closes 26 health clubs

I dont think gyms in general are recession proof, I think the gyms with pools and other bs you dont need are gonna be hurting b/c of the extra cost. Ballys failed bc they had the worst customer service in the business. I remember when I was a trainer there they said that ballys gets more new members each year than any other gym in the US, however they lose the most per year as well. If I remember right it was about 1,000,000 new members a year but teh same lost.

^holy crap! Retention is EVERYTHING

[alluprbdy]

Re: Bally's files Bankruptcy.Closes 26 health clubs

ya I dont know if that was true or if they were just trying to motivate us for treating the customers better, but it seemed true to me

[TheChosen1]

Re: Bally's files Bankruptcy.Closes 26 health clubs

No gym, or any kind of business for that matter, is recession proof. I remember the first Gold's Gym I joined back in 1985 closed down less than 2 years after I joined. The owner told me that it costs him $10,000 a month just to have the name "Gold's" on his window. So prior to closing, he scraped the word off and only allowed the word, "Gym" on his window.

[deepsouth]

Re: Bally's files Bankruptcy.Closes 26 health clubs

I can't believe they didn't shut the one in League City (South of Houston) down- its old and run down, nit to mention 24hr and LA Fitness is stealing all their business