Just want to thank Eddie from the Marathon station on Wixom Road and 96 for holding a fundraiser for Trooper Popp. 25 cents from every gallon of gas sold over the next two days will go to his family. Thanks to all the officers that stopped by along with the Mayor of Wixom.
Most of you will enjoy this football season with moderation while having lots of fun and entertainment. The fantasy leagues will provide banter amongst friends and money won or lost betting won’t affect you. I wont be betting this year because I crossed the line of moderation and into addiction which isn’t any fun at all. The money wasn’t ever the issue since our financial security has never been threatened, but I was so distracted I wasn’t able to be present with the ones I love and caused a lot of harm. This lack of presence has been so hurtful. “You’re here but you’re not with us,” is something I’ve been told often throughout my addiction. It affected those I care about in ways I wasn’t aware or could fully understand. It’s like a hurricane is going on outside and I’m isolated in a shelter oblivious to what was happening. When I came out there was so much damage to clean up that I just wanted to go back inside and not deal with it.
If you ever cross the line of moderation and enter into addiction, hopefully you won’t confuse your enablers as friends like I did. Hopefully you won’t have to deal with these difficult moments publicly so others can profit off you like I have. But hopefully you WILL have a strong and supportive partner who is willing to help you through being your worst self, and through your worst moments like I have in Amy. She has loved me and supported me through my darkest and most difficult times. I couldn’t have gotten through this without her. I’m so grateful for her strength in helping us get through the many challenges I’ve created for us. Because of her love,support,and commitment, I’m back on track to being the person I want to be.
After many years of receiving professional help, not gambling, and being in recovery from my addictions, I’m now able to sit still, be present in the moment and live each day with an inner calm and peace. I still have a lot of cleaning up to do with those I love the most but I’m doing it slowly and as best I can.
This football season and beyond, enjoy yourself with moderation so it doesn’t detract from your ability to be present. In my experience, the moments with the ones you love will be far more remembered than any bet you win or fantasy league triumph.
Every 9/11, I reread this story of Rick Rescorla, the man who ran back in that harrowing day. It's haunting and heroic, and worth your time.
https://t.co/pxHvVzUUvZ
Planet Fitness is a fascinating case study.
They offer free pizza and bagels and kick out all the powerlifters by removing heavy weights from the gym.
But their membership price hasn't changed in 25 years, and they now have 2,500 gym locations worldwide.
Here's how it works 👇
The Planet Fitness story starts in 1992.
Michael & Marc Grondahl came from a family of entrepreneurs and wanted to start their own business.
So they bought a struggling Gold's Gym in Dover, New Hampshire.
But instead of catering to bodybuilders (like Gold's Gym), they focused on getting first-timers acclimated to fitness.
They added aerobics classes, child day care, state-of-the-art equipment, and introduced year-long payment plans.
The model initially worked — but as they added two more locations, problems started to compound.
Example: A kid would push another kid in daycare and start crying, or the aerobics instructor wouldn't show up for work and people would get pissed.
So the Grondahl brothers returned to the drawing board for their fourth gym in Portsmouth, New Hampshire.
They removed the heavy weights and introduced the "Judgement Free Zone," effectively kicking out bodybuilders and softening the gym's image.
They ditched group classes, juice bars, and childcare facilities, filling the gym with nothing but equipment.
And they changed the gym's hours to 24/7/365.
But the real game-changer was the price.
That's because getting rid of all the fluff typically associated with gym memberships (group classes, smoothie bars, steam rooms, etc.) allowed Planet Fitness to drop its price to just $10 per month.
That's 80% cheaper than the average gym in the United States ($50/month) and 94% less than an entry-level membership at a luxury gym like Equinox.
And here's the craziest part...
The $10/monthly price hasn't changed in 25 years.
Planet Fitness can do this because:
1) They sign cheap lease agreements with large retail locations that are struggling (Toys “R” Us, Circuit City, etc.).
2) They intentionally target the 80% of Americans that don’t have a gym membership.
The $10/month price point is perfect for these people — affordable enough to get new members but cheap enough so no one cancels.
And it allows Planet Fitness to significantly oversell its available inventory (aka gym space).
For example, the average Planet Fitness is 20,000 square feet and has 7,500 members.
But Planet Fitness knows that 60% of its members don't go to the gym for a 30-day period. So they oversell the space and collect more membership fees each month.
The company then upsells a large portion (60%) of the members that do use the gym, convincing them to pay $25/month for a better package (all locations, etc.).
And they scale this model through franchises.
Planet Fitness only owns ~200 of the 2,500 locations.
The rest are owned by franchisees (individuals, private equity funds, etc.) that pay between $1.5 million to $5 million in setup costs.
These franchises then provide Planet Fitness a steady revenue stream of gym membership royalties (7%), national marketing fees, and even PF-branded equipment sales.
Example: Planet Fitness sold $227 million in equipment to franchises last year alone.
Planet Fitness 2022 Revenue Breakdown
• Franchise revenue: $271.6 million
• Corporate-owned store revenue: $379.4 million
• National advertising fund revenue: $58.1 million
• Equipment: $227.7 million
–––––———
Total 2022 Revenue: $936.8 million (+60% YOY)
And Planet Fitness doesn’t seem to be slowing down anytime soon.
Their franchise model enabled them to open 158 new gyms last year alone — and by keeping their monthly membership rate steady at $10, same-store sales increased more than 11% from 2021.
Planet Fitness Market Cap
2015: $1.5 billion
2023: $6 billion
So the lesson here is simple: Sometimes it pays to think outside the box.
** This breakdown is an excerpt from my 3x weekly podcast (Top 50 in US Sports). Subscribe below so you don't miss any episodes going forward!
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Navy SEALs have a saying.
You may find it helpful.
When something sucks, they look at each other and say:
"FULL BENEFIT"
It’s an instant mindset shift.
• Hiking and it starts pouring rain?
• Driving and your car breaks down?
• Working on a project and lost a draft?
FULL BENEFIT.
***
LESSON: Adversity is an opportunity
The message is simple.
Every adversity is an opportunity.
• To grow
• To learn
• To evolve
• To get stronger
• To become better
These moments forge us if we let them.
The next time you're facing something hard, welcome it.
Work through the process.
Learn the lessons.
Reap the full benefit.
***
Follow @TMitrosilis for more content like this.