Basic-Fit: Increasing Returns to Scale

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[00:02:47] - [First question] - What it’s like to walk into a Basic-Fit gym

[00:03:50] - Their footprint today in terms of geography, members and locations 

[00:04:41] - The history of gyms in the US and differences between them and European ones

[00:08:33] - Why US gym models lack influence and penetration in Europe

[00:10:58] - The key insight that led to founding Basic-Fit 

[00:13:40] - Economics of building and operating a gym in general and for Basic-Fit

[00:16:47] - Typical churn for more established locations and their member demographic

[00:20:33] - When Basic-Fit breaks even on a membership and how they battle churn

[00:23:28] - Their cancellation policy and why they don’t leave for typical reasons

[00:25:10] - Basic-Fit’s fortressing strategy and clustering philosophy

[00:28:51] - Whether or not there’s data to support members using multiple gyms 

[00:33:11] - The competitive landscape and whether other gyms adopt Basic-Fit’s strategy

[00:35:21] - What drives country localizations for a particular gym chain

[00:38:22] - Basic-Fit’s digital offering and at-home disruption from US brands 

[00:42:31] - How they navigated the pandemic and if there’s any lasting changes

[00:44:31] - The biggest threats to Basic-Fit over the next five years

[00:46:23] - Major takeaways from studying Basic-Fit’s story