Jun 24, 2020
Adam Zeitsiff is the CEO of Gold’s Gym. Zeitsiff has faced many challenges during the COVID, which shaped his belief that he may not solve the virus, but he can help to solve the problems within the fitness industry and ensure that it remains alive and thriving.
What kind of challenges have you faced? Give me an example of a challenge you faced over the last 60-90 days that came up where you had to overcome in a creative way?
- Zeitsiff says that during the shutdown, they faced the problem of supporting their team members, supporting their members and giving through unique content that members could consume from home.
- Focusing on restructuring that they were going through, in order to ensure their business would be here 55 years from now.
- They had to get really creative in focusing on their future and not getting distracted and keep the focus on bettering the business.
- A schedule was built of things that Gold’s Gym had to accomplish, and pulling that through the entire shutdown in order to create a brand that will be here for a long time.
- Gold Gym tried their best focusing on the positives and hyped up their creativity with how they delivered their services.
What is the difference between just closing down and restructuring? What are the guidelines you have to work with? What does that mean for the company?
- The differences are that people fall for it due to the fact that they believe they have to protect themselves because they feel as if they can no longer be a concern within the company.
- You may have a business that can - and will - survive, it is just important to restructure, remove liabilities and clean up your balance sheet.
- The pandemic was difficult on the Fitness industry - and the food industry - we had no way to do any sort of deliveries or get any revenue in.
- Gold Gym had to solve these liabilities and had to clean up their balance sheets with some of the clubs they operated.
- Gold Gym restructured, removed their liabilities, and cleaned up their balance sheets in order to pull through the pandemic and be in a good position to expand internationally.
Beyond the hybrid model, what are you seeing now? Maybe from a technological perspective, or an entirely new model, what do you think is going to come out of it?
- Zeitsiff says since the last time they spoke, they are even stronger than they were. Gold Gym has taken tremendous strides and has quite a few things to announce.
- Hybridization is key to creating amazing experiences in the gym.
- If you are incapable of getting digital solutions that allow individuals to work out when not in a gym, it coincides with the brand's persona.
- Zeitsiff believes digitizing gyms will be taken to the next level.
- There will be people who will personalize the experience more than others, and engage members.
How do you increase experience? I guess that is Gold’s Amp. Is that the project or the answer you guys are working on to this digital fitness solution?
- Gold’s Amp has been Gold Gyms foundation to digital fitness since their launch in 2017.
- There are a lot of plans in order to develop features, functionality, content, programming and experience.
Who are the people that may never come back to a gym? How is Gold’s Gym trying to get in touch with these people and communicate with them?
- Those who do not return may not have been so committed, to begin with, or who are not comfortable being in public spaced.
- Gold’s Gym is reaching out to people, and informing them that they are taking necessary precautions to keep things clean.
- One can only control what they can control. You can only give them proof that their health is taken into consideration, and that gyms are a safe space to be in.
If you were going to talk to an independent health club owner or someone who owns a couple of facilities, are there any blind spots or anything that you think a lot of those leaders within the health club industry are missing?
- It is important to note that gyms are on the hot seat right now, the industry is under the microscope. It is important to show members you are constantly cleaning.
- The fitness industry should not be afraid to sell and think about what to sell, and how to sell. It is important to realize people are cautious.
What other leaders in the industry as far as technology are you keeping an eye on? Any companies or names that you would like to highlight?
- Taking a look at the big guys, and how they innovate and react quickly is the forefront of our businesses.
- First and foremost, the big guys need help to innovate and lead. They need their creations integrated within businesses.
- Any type of technology that helps with engagement within the fitness industry is vital and is more important now than ever.
What are some of the bigger news outlets that you are on?
- Zeitsiff was on CNN, NBC Nightly News, and he enjoys the chances to represent Gold’s Gym.
With that level of exposure, how has your life changed over the last 90 days?
- Zeitsiffs wife keeps him humble, and it has helped him realize that they have a platform and allows him to help the industry.
- Zeitsiff has been blessed to be running these brands, and this industry is very much needed in these difficult times. Exercise is medicine.
So Adam, anything else you’d like the fitness industry to hear?
- Zeitsiff says that it is important for the fitness industry to continue with what they are doing, and keep helping people with their daily lives.
Resources
Connect with Adam on LnikedIn
Visit Gold’s Gym Website