Strip out Mark Wahlberg, numbers like $2 billion and massive expansion plans and what you’re left with is…me.
People like me, who own fitness franchises like F45, were the least shocked by the fitness giant’s scaled-down operations and plans detailed in this Mama Mia article.
We were the least shocked because we are experiencing “changing macroeconomic and business conditions” that are reducing F45’s results and operations.
So, When news of falling shares, scaled-back expansion plans and unfortunate workforce layoffs at F45 hit the headlines, I wasn’t the least bit shocked.
Hi, my name is Marie and I own a fitness franchise [UBX Boxing + Strength].
It feels like the start of a support group – checking in after the last few years I’ve had in business. Send help as well, as I am about to open my second UBX.
Psst: while you’re here, take a look at how horoscopes work. The message continues after the video.
And even though I don’t have $2 billion (but whyyyyyyy?) or multi-million dollar backing from investment companies, what I do have is a basic perspective on why the fall of F45 is absolutely not surprising.
Recent articles like this suggested that “something” in 2020 had changed the company’s fortunes.
Ummm… could this be COVID?
You could clinically describe business challenges during COVID as “changing macroeconomic conditions”, and in the context of publicly traded companies with multi-million and billion dollar numbers and CEOs living big, it’s hard to tell. feel sorry for them.
But remember that these businesses are worth millions and billions due to those at the bottom of the food chain who actually own the individual franchises. We are small business owners. And sometimes, amid the smoke and mirrors of celebrity endorsements, we forget that. We certainly don’t get six-figure sponsorship deals or mega-payouts. What we do is hold on for life, and quite frankly, a lot of us are still from two years ago.