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Key takeaways
- >> From a business model perspective, it's brilliant.
- >> They looked at it and they're like, "Okay, >> 92% of people don't actually want to use anything in the gym.
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00What do you think about like Planet Fitness marketing? >> From a business model perspective, it's brilliant. >> They looked at it and they're like, "Okay, >> 92% of people don't actually want to use anything in the gym. They want to sign up for a gym and not come. Okay, the people who use the gym the most, who we lose money on a per usage basis, are people who actually use the gym. >> What do people who use the gym use? They use heavy weights, they use squat racks, they use chalk. And so they're like, "Well, if we eliminate these three things, that knocks out 80% of the people who actually going to use the gym." And so then, we can have a facility, sign up as many people as possible we can, knowing they're never going to come. Then we'll incentivize them with pizza.
0:29>> It's 10 bucks a month to come here. If you just come and get pizza once a month, you've already covered your 10 bucks. >> The average Planet Fitness does has 10,000 members. So for them to make their model work, it's 10,000 ac- …