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Changing careers - PT studio ownership to ?

02z06

Member
Registered
Joined
Apr 5, 2014
Messages
470
Morning all!

I’m in the process of trying to change careers from owning a small personal training studio in a small town to...what exactly I’m not sure?

I’ve owned my studio for 8 years and am burned out badly. This year I’ll probably hit the 40k mark which is down considerably from the last few years. The oil and farming situation always hits my community hard.

All of my assets are paid off so my financial “requirements” are not necessarily high. I honestly think I’d be happy as heck with ups/fedex/usps or some manufacturing based job. Something with actual benefits and a retirement plan.

I’m only 30 FYI.

I had planned on continuing down this avenue for awhile longer, but one of my clients, and landlord(a chiropractor, egomaniac, and overall asshole), threw a temper tantrum last week, called me a piece of shit and stormed out of his workout. He then proceeded to send me a 3 page email degrading me and setting some new terms for my lease, one of which is he is requiring me to move 2 other peoples training times to accommodate him training at another time, and if I am not willing to do that he’s kicking me out.

There are no other commercial properties that are anywhere within my financial capabilities.

I have contacted a contractor who my landlord also fucked over regarding doubling my garage length so i can keep almost all my gym equipment and i can have my own personal gym.

I’m kind of rambling but mainly, I’m scared as heck to do anything else. I’ve never done anything else but gym related jobs. Somebody tell me to man up and move on!! :)

My other issue is trying to decide the best way to tell 35 people that I will no longer be able to service them with training, which is going to suck. That’s the main reason I’ve been holding on so long is i do not want to leave all these people in a bind, as there are a few other facilities in town, but none are good. Most of my people have been with me 6+ years.

Is a letter given to them a few months prior to close adequate? Any better opinions?


Sent from my iPhone using Tapatalk
 

little slice

Featured Member / Kilo Klub
Joined
Mar 3, 2014
Messages
12,652
how much income you need to generate per year after tax?


also, do you live in high cost of living area?
 

02z06

Member
Registered
Joined
Apr 5, 2014
Messages
470
Cost of living is extremely low where I live. Property tax for my home for the year is $800. Maybe $200 monthly in utilities.

If I could pull 50(which I know sounds extremely low to some of you ballers here lol) which would be close to what my gross is currently, I'd be happy as a pig in shit.

The reason I was thinking some form of delivery service is benefits, and possibility of pay in the future(a client has a husband who has been with ups 15 years and cleared close to 90 last year as a driver).

I would love to do something entrepreneurial, such as insurance, or something along those lines. Recurring income has a big draw to me. I do have a few clients who own their own insurance agencies that I think would be interested in having me if I closed up shop.
 

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