Business
Tyler Welch owns six gyms (four of which he bought in the last six months). Not all were profitable when he bought them—in fact, he prefers them not to be—but all were profitable within the first month. By his own admission, he's sort of a Tinker-Founder hybrid. Yes, he's collecting more and more businesses and expanding across multiple cities, but he's got his hands deep in each of them. Tune in to learn why—and how he replicates a successful model from one business to the next.Links:RxFit"Start A Gym: Everything You Need to Start and Scale a Fitness Business"Free ToolsGym Owners UnitedTimeline:00:39 – Why buy a gym instead of starting one? 2:31 – Tyler’s multiple-gym mission.4:08 – Staffing and management structure across the six gyms.8:01 – How he scaled so quickly.10:31 – Why Tyler prefers to buy unprofitable gyms.11:56 – What happens to the existing staff members? 13:55 – Migrating his playbook and policies to the new gym.15:27 – Bro deals, free memberships and other problems that come with purchase. 17:34 – Retention after the takeover. 18:39 – Making the gym profitable in Month 1. 20:24 – Looking to the long term.22:09 – When is it the right time to buy? 24:21 – How Two-Brain helped.26:24 – Lessons in negotiation. 31:52 – How to replicate processes in the new gym.