Wall Street Wetting its Pants! by Art Rothafel

Sept. 16, 2008 -- This will go down as the week that Wall Street wet its pants!  It's ugly.  That's what's being reported all over the media.

Guess what...  if you made even just one dollar yesterday, you are more profitable than some of the largest corporations in America.  Feels pretty good doesn't it? 

I remember when we started this company in 1989.  Many of my "corporate buddies" thought I was nuts.  Couldn't believe I would give up the perks, possible equity positions, health insurance and, yes, prestige. 

And, then over time, as their careers bloomed they became somewhat condescending - even joking about me working out of my garage.  But, I shrugged off the attitude, and, as you know -- persisted.

For those of you who are fitness entrepreneurs - congratulations!  Keep your head down, work hard and with passion.  If you do... the money will follow.  Greed (like that found on Wall Street) has never been the right incentive for fitness professionals. 

Today, many of my corporate buddies are out on the street... victims of the market, corporate downsizing or of their own complacency.  When I see them now they are not smiling.  In fact, they look a bit dazed... deer in headlights... wetting their pants!

Comments

[Pete]

I absolutely agree that financially, times are getting tougher. For health club owners to earn any real money, they need to be thinking as business owners and not trainers. That means bringing in new and profitable retail lines like branded workout clothing or supplements. Another way to dramatically increase gym profits is to break the "landlord" mold.