The Club Insider Archives: July 2019
Barry's Bootcamp
Inside the Red Room With CEO, Joey Gonzalez
By: Justin Cates
Justin CatesHaving numerous friends who live in Los Angeles and New York, I've seen social media posts about Barry's Bootcamp for years. As an industry participant, it's also my job to know about the always expanding plethora of brands our industry has to offer. This month, those two meet in the following cover story about Barry's Bootcamp. Within this story, you will hear from Joey Gonzalez, customer turned instructor turned CEO of Barry's Bootcamp, and his incredible journey with the brand. You will also hear from Jon Canarick, Managing Director of North Castle Partners, about their investment/partnership in Barry's, what they look for in companies like Barry's and what they bring to the table in partnership. So, let's dive right in!
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Are We Ready for the 55+ Market Growth?
By: Denise Johnson
Denise JohnsonAging adults (age 55 and older) is a market that is growing fast and will continue to grow for the next 20-30 years. This is a unique population requiring a different set of needs, interests and desires. So, the questions become: are we, as a fitness industry, ready for this? Do we, as fitness professionals, have an understanding of the needs of this market to correctly train this population? I had the pleasure of taking the Functional Aging Specialist Certification through the Functional Aging Institute at the IDEA Convention this past June, and with that experience, I learned a great deal about training this population in a way I had not thought about before.
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FitLife Celebrates 40 Years!
Part II
By: Norm Cates
Norm CatesLast month, our Cover Story, FitLife Celebrates 40 Years!, featured in-depth interviews with FitLife Executive Director, Neal Simpson, as well as Chuck Richards and Mark Eisenzimmer, club owners and present and past NACA/FitLife board members. This Part II article features an interview with Jennifer Harding, NACA/FitLife Co-founder and former Board Member, as well as veteran club owner. She also previously served on IHRSA's Board of Directors. Jennifer's input was delayed because she was in Spain at the time of our Part I article, so I want to extend our most sincere Thanks and Appreciation to former racquetball professional and long-time club business veteran owner of The East Side/West Side Clubs, Milwaukie, Oregon Jennifer Harding, for her time doing her interview after she returned from Spain.
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Are You An Asset or a Liability in Your Workplace?
By: Karen Woodard-Chavez
Karen Woodard-ChavezDisclaimer: This article is not a financial article, but instead, an article about the worth you bring to your workplace. It is referenced with a few basic accounting terms to make a clear point. A fundamental balance sheet accounting concept is that of Assets and Liabilities. To create a foundation for the title question of this article, for just a moment, let's review...
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Jackpot: What Can Slot Machines Teach Us About Driving Higher Paid Group Training Margins?
By: Ron Alterio
Ron AlterioOkay, let's be honest. Most, if not all, can relate to walking by those darn slot machines in the casinos while trying to fight the urge to drop in a coin and pull on that lever. Ironically, anyone who has spent more than a minute inside the four walls of a casino knows that the odds of winning are stacked highly in favor of the house. Yet, despite those dismal odds, there is something irresistible about the notion of one coin, one pull and one jackpot. When it comes to paid group training, it's not that much different. For many operators, driving a higher return per member while servicing a larger percentage of the member base for a substantially lower cost is just too great of a jackpot to resist.
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Peloton's Infringement Lawsuit and What It May Mean for Health and Fitness Clubs
By: Paul R. Bedard, Esquire
Paul R. Bedard, EsquireWhether in the form of an instructor's playlist or as background noise, most health clubs rely on music to enhance their members' experience. However, a lawsuit involving Peloton and members of the National Music Publishers Association (NMPA) highlights the legal aspects of utilizing music for commercial purposes. This lawsuit remains open and will continue to be worthy of monitoring for what it will mean to the licensing of music for commercial purposes. The $150 million lawsuit filed against Peloton by members of the NMPA claims that Peloton has been using their music without obtaining the proper licensing. NMPA President and CEO, David Israelite, has publicly elaborated by alleging that Peloton has, "properly licensed some music but not all music."
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Basics of Estimated Taxes for Individuals
By: Kristen Deazeley
Kristen DeazeleyThe United States Tax System operates on a pay-as-you-go basis. This means that taxpayers need to pay most of their tax during the year, as the income is earned or received. Taxpayers must generally pay at least 90% of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two. If they don't, they may owe an estimated tax penalty when they file. The IRS has seen an increasing number of taxpayers subject to estimated tax penalties, which apply when someone underpays their taxes. The number of people who paid this penalty jumped from 7.2 million in 2010 to 10 million in 2017, an increase of nearly 40%. The penalty amount varies but can be several hundred dollars.
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Cedardale Founder, John Edwin Veasey, Passes Away at 89
February 17, 1930 - June 27, 2019
HAVERHILL, MA - John Edwin Veasey, a lifelong resident of Haverhill, passed away in the company of his family on June 27, 2019 at his home on Brockton, Avenue. Born February 17, 1930 to Decia Beebe and Arthur Hale Veasey, John Edwin grew up at 5 Windsor Street in Haverhill with three siblings: Arthur Hale Veasey, Jr.; Decius Beebe Veasey; and Katherine Ensign Veasey. Affectionately known to his friends and loved ones as "Ed" or "Eddie," he devoted his life to his family, country, friends and community.
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TPG Partners With Crunch Fitness
SAN FRANCISCO, CA; FORT WORTH, TX; and NEW YORK, N.Y. - TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, announced that it has partnered with company management to acquire Crunch Fitness (Crunch). The transaction includes Crunch's company-owned "Signature" facilities, as well as its global franchising business. Financial terms of the transaction were not disclosed.
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IDEA Health & Fitness Association Honors Industry Leaders at the 2019 IDEA World Convention
ANAHEIM, CA - IDEA Health & Fitness Association, a leading organization of fitness and wellness professionals, announced the recipients of its annual IDEA World Fitness Awards, recognizing individuals who strive for excellence, show an outstanding commitment to their clients and communities and spread their passion for fitness across the globe.
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Recipients of Two 2019 IHRSA Institute Scholarships Announced
BOSTON, MA - The IHRSA Institute has been a foundation for developing business leaders in the health club industry for more than 30 years. IHRSA is pleased to announce the recipients of two scholarships to attend the 2019 event this summer: Maureen Eggers, Health & Fitness Manager for Washington Athletic Club in Seattle, WA, is the recipient of The John McCarthy Scholarship. Jason Stokes, General Manager and Managing Partner of Sportsplex-New Windsor in New Windsor, N.Y., is the recipient of The Curt & Jane Beusman Scholarship.
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Norm's Notes for July 2019
By: Norm Cates
Norm CatesHello Everybody! This is your Club Insider Publisher and Tribal Leader Since 1993 checking in with our 307th monthly edition of Club Insider! Dudes and Dudett's... Justin and I want to Thank You for reading Club Insider. We appreciate the fact that your eyes are on this writing right now, and we hope you receive value and knowledge from your reading. Don't forget our Club Insider Archive Library, which now has over 10,000 pages containing 307 monthly editions of Club Insider!
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