Of the 70 new stores that were to be built by LA Fitness in only three will actually make through 'construction complete' while the rest have been put on an indefinite hold. This is in part due to the soft economy, real estate prices in free-fall, rising unemployment and consumer goods indexes (fuel).
How is this a rip-off? Easy, you take an organization whose sole bent is to profit from the American diseases related to obesity and generally poor fitness habits, couple it up with a savvy Chinese business-dictator, give them unlimited funding under the auspices of minority-owned business, and "Fitness-Gate" is right around the corner.
Ever wondered why you seemed to be the most important person in the world until the deal closed? You're just another sweetheart number. But that 20 minute sales pitch felt good, didn't it, until six months later you figured out you could have gotten a better work-out in your garage.
Ever take your complaint to the front desk? How many employees in the facility do you think have any real authority? I have witnessed fist-fights in their clubs and parking lots with the result of none of the offenders losing their memberships.in fact, if you to go to any Meagan's Law Website, you'll find that they allow child-molesters to join the club where your minor children are; because, they're just a number too. It's just a sales number game, and you're on your own with the fitness itself, unless you want to take a second deed of trust out on your house to pay for their grossly inflated personal-training services from teenagers that happened to pass a week-end qualifidcation test.
So here's the bad news, in third quarter of fiscal year the board of directors of LA Fitness having had the most profound losses handed to their organization ever, will begin by closing fitness facilities that aren't making their quotas. Areas hit hardest by real estate vacancy and foreclosure (Hemet helps lead the nation in this one) will be at the top of the list.
If you think it won't happen, remember you're just a number, and it's almost up.
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