As former expediters, now retail business owners (gym), Diane and I are looking to EO to get a better sense of the true state of things. We realize we're in the midst of rapidly developing and rapidly changing pandemic situation. Still, the state of freight has always been a good economic indicator. Are expediters busy? Slow? Some busy, some slow depending on the kind of freight you haul?
In our gym business, about half of the Anytime Fitness gyms in the U.S. have been closed by government mandate. Our gym is still open but we would not be surprised to be closed by the state. That's quite something; being legally prohibited from operating a gym, but legally required to pay your ongoing bills. And we have staff to think about too. All the big-box gyms in our area have closed. They all laid off their staff. Diane and I are disinclined to do that. We want to keep our great people close and employed for as long as possible. While we remain open, sales have slowed. People are scared and are purchasing less than before. Gym use continues at about 80% of normal levels. Because we're a small gym, we can practice social distancing and virus mitigation in ways the larger gyms cannot. Understandably, certain people in high-risk categories are staying home. We have a way to work with members online, so even if the gym is closed, we still have one profit center to focus on.
At present, the general public conversation seems to include an underlying assumption that things will get back to normal at some point, after the virus moves through. I'm thinking different. I'm thinking the impacts are already so profound that fundamental assumptions about our economy, our way of life, the role of government, the way we do business, etc. will change.
Logistics-wise, we saw the shortages coming and stocked up early on toilet paper, hand soap and hand sanitizer, so we're in good shape. We've been able to order all other goods and all have been promptly delivered by UPS, FedEx, Amazon Prime and the occasional "off-brand" truck. We have a heavy load of carpeting on order (club remodeling coming soon). Unsure how current conditions will affect that delivery. We had plans to order in new, heavy-freight fitness equipment as part of our expansion but that's on hold for the moment.
With many thousands of gyms of all brands closing or being forced to close, that's going to have an impact on freight. So too with restaurants, trade shows, schools and everything else that is closing. Expediters are closer to the front lines of the economy than anyone we know. What are you experiencing? What is your response? What is your economic outlook (not political outlook please)? Do you expect to be in business in 30 days? 90 days, 365 days? Do you expect to be flush with cash as you meet the nation's expedited freight needs? Are you staying home to avoid becoming sick and alone out on the road?
In our gym business, about half of the Anytime Fitness gyms in the U.S. have been closed by government mandate. Our gym is still open but we would not be surprised to be closed by the state. That's quite something; being legally prohibited from operating a gym, but legally required to pay your ongoing bills. And we have staff to think about too. All the big-box gyms in our area have closed. They all laid off their staff. Diane and I are disinclined to do that. We want to keep our great people close and employed for as long as possible. While we remain open, sales have slowed. People are scared and are purchasing less than before. Gym use continues at about 80% of normal levels. Because we're a small gym, we can practice social distancing and virus mitigation in ways the larger gyms cannot. Understandably, certain people in high-risk categories are staying home. We have a way to work with members online, so even if the gym is closed, we still have one profit center to focus on.
At present, the general public conversation seems to include an underlying assumption that things will get back to normal at some point, after the virus moves through. I'm thinking different. I'm thinking the impacts are already so profound that fundamental assumptions about our economy, our way of life, the role of government, the way we do business, etc. will change.
Logistics-wise, we saw the shortages coming and stocked up early on toilet paper, hand soap and hand sanitizer, so we're in good shape. We've been able to order all other goods and all have been promptly delivered by UPS, FedEx, Amazon Prime and the occasional "off-brand" truck. We have a heavy load of carpeting on order (club remodeling coming soon). Unsure how current conditions will affect that delivery. We had plans to order in new, heavy-freight fitness equipment as part of our expansion but that's on hold for the moment.
With many thousands of gyms of all brands closing or being forced to close, that's going to have an impact on freight. So too with restaurants, trade shows, schools and everything else that is closing. Expediters are closer to the front lines of the economy than anyone we know. What are you experiencing? What is your response? What is your economic outlook (not political outlook please)? Do you expect to be in business in 30 days? 90 days, 365 days? Do you expect to be flush with cash as you meet the nation's expedited freight needs? Are you staying home to avoid becoming sick and alone out on the road?
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