Why did they buy those 17 clubs? Can't find the reason for this. Could be that the franchisees are not willing to pay for the transition. I feel it's important to know this.
I also don't think we can extrapolate the revenue and ebitda numbers. Don't think every month is the same. But its a ballpark number.
Can't find the reason either. A franchisee selling after an acquisition could have many different reasons. If the assumptions that franchisees are not willing to pay is true, then that'd be a problem but it's still just an assumption.
Of course, extrapolating those 2-month figures is just a rough estimate yes.
Yeah, I think the selling context is important in this case. Maybe he's 60+ years old and doesn't want to invest in it anymore. But maybe it's something different. Maybe we'll never know.
Solid anaysis on the Clever Fit acquisition angle. The shift to franchising makes perfect sense given their balance sheet constraints but the margin expansion potential is what really catches my eye. I ran similar franchise rollouts in retail where capital efficiency became the unlock for scaling. That 17% underlying EBITDA growth excluding Clever Fit suggests the core busines is firing on all cylinders right now.
Why did they buy those 17 clubs? Can't find the reason for this. Could be that the franchisees are not willing to pay for the transition. I feel it's important to know this.
I also don't think we can extrapolate the revenue and ebitda numbers. Don't think every month is the same. But its a ballpark number.
Can't find the reason either. A franchisee selling after an acquisition could have many different reasons. If the assumptions that franchisees are not willing to pay is true, then that'd be a problem but it's still just an assumption.
Of course, extrapolating those 2-month figures is just a rough estimate yes.
Yeah, I think the selling context is important in this case. Maybe he's 60+ years old and doesn't want to invest in it anymore. But maybe it's something different. Maybe we'll never know.
Solid anaysis on the Clever Fit acquisition angle. The shift to franchising makes perfect sense given their balance sheet constraints but the margin expansion potential is what really catches my eye. I ran similar franchise rollouts in retail where capital efficiency became the unlock for scaling. That 17% underlying EBITDA growth excluding Clever Fit suggests the core busines is firing on all cylinders right now.