A Recommendation of Jim Thomas, President of Fitness Management and Consulting
by Norm Cates, Club Insider Publisher and Tribal Leader Since 1993
Jim Thomas is a talented, experienced, dedicated, determined, and very professional expert in the health, racquet and sportsclub industry. A club industry veteran of over 30 years, Jim has been a Club Insider Contributing Author since March of 2006, when he joined our Club Insider Contributing Author Team. During that time Jim has written and contributed 50 articles which have been published during our 284 months of Club Insider publishing. Jim Thomas is a truly great asset to our publication, and to our wonderful industry, and he can be trusted to deliver great results, over and over, no matter what the challenge.
Owners of Health Clubs all reach a point in the history of their enterprise when it is time to “hang it up.”
Many factors will tell you when it is time:
Gym Owner’s “burn out” Owner’s or key employee’s health problems
Business relocation or rerouting of expressways
Lease expires and you do not want to renew for another term
Changing technology Get estate in order
Not interested in investing long-term capital
Children do not want to enter family gym business
Largest accounts in financial difficulty
Bank unwilling to renew credit lines for gym financing
Supplier and gym vendor problems
Gym member’s habits changing
Wants to cash out and go fishing
Whatever the reason, you will need to plan an orderly transition to new ownership with less involvement on your part.
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