Wanted to bring this up for discussion as yesterday my main Gold's Gym announced they're closing on August 20.
I have memberships at 24 Hour Fitness, LA Fitness, Gold's Gym, and Fitness Connection, and since 2020 my main 24, LA, and Gold's have all closed.
With this latest Gold's closing, the general manager told me it's due to the lease increasing significantly. They're going to build a new Gold's in one of the suburbs here and he told me it's cheaper for them to build / staff / equip a new facility than stay in the lease at their current location. My main LA that closed also did so due to the lease increasing significantly. They had planned to build a new facility a few miles from my house but dragged their feet for so long they lost the permits and now aren't building it.
Some of this is due to the extended closings in 2020; some is due to the fucked up real estate market. But it seems strange to me that so many gyms are closing in Dallas, the 4th largest metro area in the country. 24 Hour actually closed all three of the locations I frequented.
Are you seeing the same in your area? Anyone who works in the gym industry that can give some insight?
I have memberships at 24 Hour Fitness, LA Fitness, Gold's Gym, and Fitness Connection, and since 2020 my main 24, LA, and Gold's have all closed.
With this latest Gold's closing, the general manager told me it's due to the lease increasing significantly. They're going to build a new Gold's in one of the suburbs here and he told me it's cheaper for them to build / staff / equip a new facility than stay in the lease at their current location. My main LA that closed also did so due to the lease increasing significantly. They had planned to build a new facility a few miles from my house but dragged their feet for so long they lost the permits and now aren't building it.
Some of this is due to the extended closings in 2020; some is due to the fucked up real estate market. But it seems strange to me that so many gyms are closing in Dallas, the 4th largest metro area in the country. 24 Hour actually closed all three of the locations I frequented.
Are you seeing the same in your area? Anyone who works in the gym industry that can give some insight?