Gym owners who made it through COVID are exhausted. Many of them who were financially struggling before COVID are struggling again. Many who survived on EIDL and PPP (or the international equivalent of government aid for small businesses) are out of money. To be fair, some were too far in the hole when COVID hit, and it just held off a closure for a few years. Others went back to the same poor business practices they had prior to COVID.
Others are different altogether. They aren’t bad business owners at all, but their stage of life has changed. Maybe their kids graduated high school and they’re ready for new adventures. But here’s my theory.
In the next 30 days, you’re going to see:
- Gyms closing
- Gyms selling
- New gyms opening
- Equipment for sale
- Spaces for lease
Not all of these situations are bad. Some are gym owners who realize they’re tired. More tired than they were before COVID and know they’re not able to care for the athletes the way they did in 2019 and before. Some of them were tired before COVID, but pushed through for the hope of a greater tomorrow for their kids.
I want more than that for you. I don’t want you to be so exhausted that closing your gym is more appealing than setting goals. I don’t want you to be so frustrated with business that you consider whether renewing your lease is the right option for you. Now, there’s no doubt – not everyone is designed to be a business owner. Some people would rather coach and then head home for the night. They don’t want to deal with taxes, payroll and insurance. That’s OK. They’re also giving up the right to make all the decisions when it comes to the direction of a program. That’s OK too.
As an owner, you have to learn the things you never really wanted to do in order to stay in business. You have to learn a thing or two about hiring laws, staff training, budgeting and taxes. Doing those things will consume your time for awhile. You don’t have to love it, but you have to do it. Once you have systems and processes in place, you can return to do some of the things you love with the confidence that your business can maintain and grow. Growth is vital. Inflation is real and you have to grow to stay in business. Sometimes growth means adapting to the environment. Sometimes it means troubleshooting unforeseen problems. It always means staying just as focused on the business as you are on the kids. Without the business, you lose the ability to care for the kids.
If you’re someone who loves kids, loves cheerleading and hates business, I encourage you to reach out to me. Time and time again I meet gym owners who feel this way. If they don’t develop a love for the business, they eventually feel so overwhelmed that they lose their vision. They forget why they started and they start looking for the way out.
There is about to be a lot of change in the industry. Some of it, I’m already seeing. Some is the result of gym owners who built amazing programs and are ready for the next stage of life. You don’t want to be the one who is selling or closing just to get out of it though because you’re exhausted. If that’s you, reach out.
