64: Scaling to 21 Locations and Selling

In this episode, Tim and Randy will be joined by Michael Gelfgot, one of the speakers at their previous Fitpro Growth Summit and a successful fitness business owner. The three will dive into the incredible story of how Michael and his partner scaled their Anytime Fitness locations to 21 locations and eventually sold 20 of them to an investor.Michael shares his insight into what it takes to own and operate 21 locations, as well as what you should be working on in order to be able to sell your business. Listen, learn and make sure you implement.Key Takeaways:Anytime Fitness’ transition from convenience to convenience plus coaching (01:46)How Michael got started in the fitness business (02:28)The importance of mentoring somebody as you are growing your business (06:12)The most basic way of calculating a gyms penetration rate (11:56)Creating opportunities for your team to move further faster (16:53)Operating a little bit more like a studio and a little bit less like a gym (26:56)Buying 12 clubs and purchasing 10: How they built their locations and where the money came from (34:07)How to know when it’s time to sell the business (37:52)The detriment of getting stuck on results instead of client experience (47:28)Space is the best equipment you can have in a personal training model (56:44)Additional Resources:Marketing Talk with Fitness Professionals Facebook GroupCashflow Quadrant By Robert KiyosakiExtreme Ownership by Jocko WillinkGreat By Chance By Jim CollinsA More Beautiful Question By Warren BergerCorporate Fit ChallengeThe Endurance By Alfred Lansing--You can find out more about Tim and the strategies covered in this episode by checking out our website.--Would you rather watch the video version instead?Head over to our YouTube channel to watch this episode by going here--If you don’t already have my book, get your copy FREE here.--Connect with Tim:Schedule A CallFacebookInstagramLinkedInConnect with Randy:FacebookInstagram--Subscribe to the podcast on Apple, Spotify, Google, Stitcher, YouTube or anywhere else you listen to your podcasts.If you haven't already, please rate and review the podcast on Apple Podcasts!

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