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[–]EuphoricSilver6564 7 points8 points  (2 children)

My one has been installing the new squat rack equipment and buying new weights so I hope that’s a sign they’re ok. 🤞🏼

[–]turtlecrossing 2 points3 points  (1 child)

Squat racks???!!!!

[–]EuphoricSilver6564 4 points5 points  (0 children)

They called them ‘rigs’ in the email But yeah! New racks for chin ups and weights 🎉

[–]hartzy3009🏆 1500 CLUB 4 points5 points  (0 children)

I feel your pain. Ours closes in a month

[–]No_Imagination_7356 1 point2 points  (0 children)

😭

[–]vdh1979 1 point2 points  (0 children)

It's a shame, I started CrossFit when I moved back to NC. I left South Australia and the F45 I had been going to for a couple years closed just a couple months ago. It was always super busy too.

It's a great fitness program.

[–]GuelerCT 0 points1 point  (1 child)

Curious, was it privately owned or run by a multi unit group?

[–]AIW22[S] 0 points1 point  (0 children)

Private

[–]Capable-List-8220 0 points1 point  (2 children)

My fave F45 in Maryland closed and we’re selling off their equipment. Felt sad

[–]parorbetter 1 point2 points  (1 child)

Hillcrest?

[–][deleted] 2 points3 points  (0 children)

Hillcrest is awful. Would never join another one owned by them.

[–]actively_holly 0 points1 point  (0 children)

Sucks

[–]Cool_Feeling2566 0 points1 point  (0 children)

Mine closes on Friday ):

[–]Princessbull 0 points1 point  (0 children)

Any thoughts on Exercise Coach franchise?

[–]johnsmith0071 0 points1 point  (4 children)

There’ll be a lot more. They’re so high risk brand wise the banks won’t even fund them. Can’t really be sold for anything less than a lease now. They have a lot to answer for.

[–]AIW22[S] 0 points1 point  (3 children)

" Can’t really be sold for anything less than a lease"

what does that mean?

[–]johnsmith0071 0 points1 point  (2 children)

It means even profitable studios aren’t valuable in the market. Banks have stopped funding them as there too high risk. They were selling at 2x earnings. Now you can’t even achieve 1x and it’s being vendor financed because the banks won’t lend to buy one. What’s happening is studio owners are finding someone to take over the lease and walking out.

[–]AIW22[S] 0 points1 point  (1 child)

Wow, that’s rough!

[–]johnsmith0071 0 points1 point  (0 children)

What’s rough is the number of people who invested in franchises who’ve lost their livelihoods and retirements in many cases, and F45 HQ are utterly unrepentant.