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Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
Fitness centers across the country are facing great uncertainty as rumors swirl of many major chains filing for bankruptcies. For instance, less that 1% of 24 Hour Fitness locations paid May rent by May 8, a 99.87% drop from the year prior.
Yet, despite the grim outlook for this business, Self Made Training Facility plans to open its first Dallas-Fort Worth location. The franchise operates differently than traditional gyms. Instead of charging patrons every month, personal trainers can use the space as a sort of coworking space and pay fixed monthly fees for the facility. Then, trainers charge their trainees separately and keep the entirety of their earnings.
Since trainers can schedule clients at staggered times, the gym can implement physical distancing guidelines and keep up with sanitation protocols.
“Our trainers are the ones that are pretty much the business owners here,” said Austin Kent, SMTF Dallas franchise owner. “We can mitigate the risk upfront by having a controlled environment. We have hand-washing stations. We have private bathrooms instead of large locker rooms, which really helps with sanitization.”
