CHEDDAR BIG BULLET.
TEEN IN NEW YORK CITY CAN
REJOICE TODAY, HEY GYMS ACROSS
THE CITY ARE STARTING TO REOPEN
THEIR DOORS.
SAFETY MEASURES IN PLACE PRIOR
TO THE REOPENING FOR EXAMPLE.
VIRTUAL INSPECTIONS OF
LOCAL GYMS TO MAKE SURE THAT
THEY'RE FOLLOWING NEW SAFETY
PRECAUTIONS ALL TO KEEP
CUSTOMERS AND STAFF SAFE WITH
US NOW IS ANDREW OUT THAT
THE CEO RETRO FITNESS AND YOU A
BIG DAY FOR GYMS IN NEW YORK
CITY, I'M SO GLAD TO HAVE YOU
ON I JUST MENTIONED THE NEW
YORK HEALTH DEPARTMENT
CONDUCTING THESE HEALTH
INSPECTIONS. WHAT ARE THEY
LOOKING FOR.
>> WELL FIRST OF ALL THANK YOU
VERY MUCH FOR HAVING ME ON THE
SHOW TODAY APPRECIATE IT IF YOU
CAN.
>> IMAGINE THIS IS DAY
170. SINCE THE HEALTH CLUB HAS
BEEN MANDATED TO BE CLOSED.
SO WE ARE VERY EXCITED TO HAVE
THE OPPORTUNITY TO BE OPEN.
I ACTUALLY WE HAVE.
>> THEN READY TO OPEN FOR A
NUMBER OF MONTHS FOR MANY
PEOPLE THAT
DON'T RECALL THE FEDERAL
GOVERNMENT ACTUALLY PUT US
IN PHASE, ONE RECOGNIZING US AS
AN ESSENTIAL BUSINESS SO WHAT
THEIR LOOK IN 4 IS REALLY WHAT
HEALTH CLUBS IN THE FITNESS
INDUSTRY HAS 4 CARED FOR FOR
MANY MONTHS ALREADY
RETRO FITNESS IS ACTUALLY A
100%
FRANCHISE ORGANIZATION MEANING
EVERY ONE OF OUR CLUBS IS
INDIVIDUALLY OWNED AND OPERATED
BY A SMALL
BUSINESS OWNER. SO FOR THOSE
LOOKING TO GET BACK TO THEIR
CLUBS OUR FRANCHISEES IN THE
FITNESS INDUSTRY HAVE
SPENT THOUSANDS AND IN SOME
INSTANCES, 10'S OF THOUSANDS
PREPARING THE CLUBS WITH
EVERYTHING THAT YOU WOULD
EXPECT AND WE OFFERED A NUMBER
OF MONTHS AGO MASKS AT A 100%.
WHETHER YOU'RE AN EMPLOYEE AND
MEMBER OR YOU'RE
WORKING OUT THE TIME SOCIAL
DISTANCING OUR FRANCHISEES
SPENT A LOT OF TIME IN MONEY
MOVING EQUIPMENT. THERE IS A
TOUCHLESS CHECK IN SO THAT WE
CAN MANAGE THE OCCUPANCY FOR
NEW YORK, IT IS AT 33% FOR NEW
JERSEY TO 25 PER CENT AND
ACTUALLY RITUAL FITNESS
OPERATES IN 12 OTHER STATES AND
IN EACH ONE OF THOSE STATES ARE
IN A DIFFERENT PLACE BUT WE
HAVE TAKEN GREAT PRECAUTIONARY
STEP. I'M ALSO A MEMBER SO I'VE
BEEN WORKING OUT AT A COUPLE OF
THE CLUBS ON LONG ISLAND FEEL
VERY SAFE AND EVERYBODY IS VERY
EXCITED TO GET BACK ON THEIR
FITNESS JOURNEY.
>> IN NEW YORK PEOPLE NEED TO
HEAR TO WEAR FACE MASKS WHILE
THEY'RE WORKING OUT, YOU KNOW
EVEN ON
THE TREADMILL. ANY FEAR THAT
THAT MIGHT DETER SOME PEOPLE
FROM GETTING BACK INTO THE GYM.
>> NO NO NOT REALLY AT ALL I
COULD JUST MENTIONED I'VE
ACTUALLY BEEN WORKING OUT OF
COUPLE OF CLUBS AND I THINK
ONCE
IT BECOMES IT IS NORMAL AND
PEOPLE THAT WANT TO GET
HEALTHY. THE REALITY OF IT IS I
THINK OVER THE COURSE OF THE
LAST 6 PEOPLE REALLY BECOME
VERY EDUCATED ON THE UNHEALTHY
HABITS THAT PEOPLE HAVE
DEVELOPED THROUGH
THE YEARS FOR THOSE THAT DON'T
KNOW ACCORDING TO THE CDC 71.6%
OF AMERICA
IS ACTUALLY OVERWEIGHT
OR OBESE. AND I THINK IT WAS A
LOT OF EDUCATION ON THE
BENEFITS OF EXERCISE IS
MEDICINE AND BEING FIT
AND BEING HEALTHY IS REALLY THE
BEST VACCINE THAT YOU HAVE SO
ALTHOUGH WEARING THE MASK
MAY SEEM. PROHIBITIVE IF YOU
WILL I WILL SHARE I'VE BEEN
WORKING OUT WITH A MASK BOTH
CARDIO AND WITH WEIGHT AND I
WILL TELL YOU MEMBERS AND I
HAVE SPOKEN TO IT IS A SMALL
HURDLE THEY HAVE TO GET OVER
THE ARE REALLY EXCITED JUST TO
GET BACK TO THE GYM IS MUCH
MORE THAN JUST WORKING OUT IT
BENEFITS YOUR PHYSICAL HEALTH
BENEFIT YOUR
MENTAL HEALTH. AND I THINK MOST
PEOPLE WOULD SAY A MASK IS A
SMALL PRICE TO PAY GIVEN THE
FRAGILITY INSENSITIVITY OF THE
TIMES THAT WE'RE IN.
>> JUST ON THE BUSINESS SIDE OF
THINGS HE YOU KNOW THESE GYMS
CANNOT.
IT'S
30% CAPACITY. OVERHEAD IS SO
EXPENSIVE ESPECIALLY TALK ABOUT
REAL ESTATE, PARTICULARLY IN
PLACES LIKE NEW YORK CITY,
HOWARD HOW ARE THESE GYMS DOING
AND ARE THERE.
ARE THEY ABLE TO SERVE I DO
THINK THEY'RE ALL GOING TO MAKE
IT THROUGH THE OTHER SIDE OF
THIS PANDEMIC.
>> YEAH WELL UNFORTUNATELY
BEEN WELL DOCUMENTED THAT A
NUMBER OF THE FITNESS
ORGANIZATIONS I WILL NOT BE
MAKING IT
BACK IN AS YOU KNOW THE SMALL
BUSINESS OWNERS WHICH IS THE
HIGH MAJORITY OF WHAT THE
HEALTH CLUBS ARE OUT THERE
THERE ARE OVER 2000 IN THE
STATE OF NEW YORK HAS OVER 1100
IN THE STATE OF NEW JERSEY.
IT'S BEEN
VERY DIF THE SO AGAIN THE
FEDERAL GOVERNMENT SAID THAT WE
COULD OPEN IN PHASE,
ONE AND 47 OF THE STATES IN THE
COUNTRY ACTUALLY FIGURED OUT A
WAY TO ALLOW
CLUBS OPEN. BUT NEW YORK AND
NEW JERSEY THEY WITH A LIDERES
AGAIN A DAY 174 NEW
YORK CITY. THERE IS BEEN NO
SUPPORTING DATE OR
UNFORTUNATELY STATED THEY
SHOULD BE A WEEK THIS LONG TO
GET PRUITT AND THERE'S BEEN 0
FINANCIAL RELIEF. SO I THINK
YOUR
YOUR QUESTION APPROPRIATE THAT
IS ONE OF THE FIGHTS THAT WE
CONTINUE TO HAVE AS OF RIGHT
NOW NEW JERSEY ALLOWS US TO
OPEN WITH 25% OCCUPANCY AND NEW
YORK ALLOWS
33% OCCUPANCY. BUT HONESTLY WE
SHOULD HAVE OPENED A LONG TIME
AGO AS HEALTH CLUBS ARE REALLY
AN EXTENSION OF THE HEALTH CARE
SYSTEM AND HAD 25% AND 33% LIKE
IN MANY STATES WOULD NOW BE 50
OR 75%.
SO WE'RE HOPING TO GET THERE
QUICKLY BUT THERE'S NO QUESTION
THAT THERE IS A BURDEN
A FINANCIAL BURDEN IF YOU WILL
BY THE SMALL BUSINESS OWNERS
AND WE ARE FIGHTING VERY HARD
TO GET THEM THE RELIEF THAT
THEY DESERVE SO WE LOOK FORWARD
TO CONTINUING TO HAVE THOSE
CONVERSATIONS WITH BOTH STATES.
>> THAT THIS IS GOING TO BE
INCORPORATED INTO THE FUTURE.
EXPERIENCE EVEN POST-PANDEMIC
HOW DO YOU THINK THE INDUSTRY
IS GOING TO BE CHANGED HER.
>> YEAH THANK YOU
FOR THAT SO RICH WITHIN THIS WE
REALLY TOOK THE OPPORTUNITY AND
GOING INTO THE PANDEMIC AND
NOBODY CERTAINLY WAS ABLE TO
FORECAST THAT BUT WE HAVE
REALLY BEEN FOCUSING ON THE
HEALTH
AND WELLNESS OVERALL AS THE
BRAND HALO FOR RETRO FITNESS.
SO WE HAVE THE BRICK AND MORTAR
WE GET THE AVERAGE MEMBER TO
OUR CLUBS, THIS IS THE AVERAGE
MEMBER NOT THE SUPER AVERAGE
BETWEEN 3, 4 TIMES A WEEK FOR 3
AND A HALF TO 4 AND A HALF
HOURS
IN TOTAL. BUT AS YOU KNOW, I'M
HEALTHY LIFESTYLE IS HAPPENING
ALL THE
TIME SO THERE'S BEEN AN UPTICK
IN THE
AT-HOME SOLUTIONS. CLEARLY
PEOPLE WANT TO BE OUTSIDE
EXERCISING SO ONE OF THE THINGS
WE DO A RETRO FITNESS IS WE
FOCUS ON MENTAL HEALTH. WE
FOCUS ON NUTRITION WE FOCUS ON
ACTUALLY WE HAVE A LIBRARY OF
HEALTHY COOKING SEGMENTS WE'VE
PARTNERED WITH ALUMNI OF THE
CULINARY INSTITUTE OF AMERICA
THAT YOU THIS WITH US
AND WE ALSO HAVE ENGAGED WITH
AN AT-HOME SOLUTIONS SO
GETTING FIT BEING HEALTHY THAT
IS THE BEST VACCINE FOR FOLKS
OUT THERE AND FOR MANY THAT
DON'T KNOW OH AND THEN THIS IS
A LITTLE BIT OF ENCOURAGEMENT
TO GET BACK TO YOUR LOCAL
HEALTH CLUB AND WE
HOPE BOTH SHARE THIS ADVOCACY
WITH US IS THAT MANY PEOPLE
THAT ARE WAITING FOR THE
VACCINE. WE KNOW FACTUALLY THAT
THOSE THAT ARE OVERWEIGHT OR
OBESE. VACCINES ARE
LESS EFFECTIVE. WE'RE VERY
EXCITED TO HEALTH CLUBS ARE
OPEN WE WANT TO SEE THE YOU
KNOW GET FILLED BACK UP SOONER
RATHER THAN LATER AND IT'S A