On the back of the Optimum Nutrition and other supplement deal from Derrimut, comes a super 12 month gym membership rate. The 12 months begins once the gym reopens of course. They have 16 locations in Victoria and South Australia and are due to have 25 locations soon. $377 for 12 months for everyone or $299 for police, ambos, firies and special forces personnel. Being a 24/7 gym too, this offers amazing value equating to just $31.42 a month or $24.92 a month respectively.
Do you even lift.. i mean read brah?
Memberships can be purchased online and will commence when the gyms reopen, guess they are trying to maintain cash flow whilst their gyms are closed.
Agree. No point to spend money on something you have no idea when you can start using and there's also a risk may never be able to use it if the gym goes bankrupt.
They are opening 9 more gyms. I don't suspect that is a sign that they are going bankrupt anytime soon.
@power71: That is a pretty brave move, expanding a business (that is currently closed with no firm idea when it will re-open).
It doesn't preclude them from going bankrupt though.
@power71: You have this ass backwards.
This company always announces a gym "coming soon" before they have council approval, before fit out, etc. How do I know? Because I'm a member and they've opened 2 gyms within 10 minutes of me, both plagued by last minute delays that pushed the opening dates by months. One place announced they just found out they wouldn't be opening until further notice… during the opening day event.
They are financially committed to opening 9 more gyms… THEN the pandemic hit and cash flow halted.
Now they're pre-selling memberships at discount pricing, merch at 80% off, and supps (slightly different because they have a shelf life) at probably under cost.
Looks a lot more like they're trying very hard to get cashflow to cover their financial commitments, which shows they ARE at higher risk of bankruptcy.
trying to maintain cash flow
And if they are unsuccessful in maintaining that cash flow?
This is OzBargain not OzHandout
Don't the police and armed forces have enough big guns?
I love how they added special forces staff, they are hardcore.
Time to take a screenshot of my COD stats.
You would have to have balls of steel to be pumping money into gyms now - no guarantee they'll still be around by the time gyms are allowed to reopen.
This is a bit of a blind cash grab and should be treated as such.
Agreed.
With 9 more gyms opening soon, it wouldn't suggest that they are doing it that bad.
Grand announcements like that don't mean anything until they're actually open. I could tell you my company is about to open 15 new Kauflands, would that be enough for you to invest in it?
I could tell you my company is about to open 15 new Kauflands, would that be enough for you to invest in it?
Sure sounds like a better deal than this gym. Where do I send the money?
Please send me your BSB/Account for speedy transfer of funds
That is a pretty brave move, expanding a business (that is currently closed with no firm idea when it will re-open).
It doesn't preclude them from going bankrupt though.
Why not though? They can essentially hibernate until this all blows over. Most all ongoing biz fees are waived anyway. Just some cleanup fees once they reopen. Is it not?
They'll still have to pay all their lease costs and other bills during the shutdown I would imagine.
Yeah, gyms are usually huge spaces.
Anytime fitness called me to say that they're "not certain" that they would be reopening my local gym. If they can't survive it, I'm not sure how smaller gyms would.
@nmur: The difference with Anytime Fitness is that they franchise their gyms, so doesn't mean if your local closes, that the whole company would go bankrupt. Derrimut gyms are company owned.
Derrimut are run by bikies. They've got plenty of steel in those balls.
Good gym. Never seen a worst airconditioning anywhere else. Scorching in summer, freezing in winter [SA]. usually has $365 annual deal on
God i miss this gym
Like some have said above, I’d personally wait until the gym opens before buying into a deal like this. I did read a report the other day that gyms might open up earliest September. Realistically, who knows when it’ll open, but I’d be cautious about getting membership especially knowing that many companies are indeed a higher chance of becoming bankrupt.
Realistically, if gyms do make it out on the other side when restrictions are lifted etc, I’d be betting that they would have similar deals to lure people/cash in.
When are they coming to NSW?
Ha. We’ve all discovered PE Joe, we ain’t paying
![[VIC, SA] Derrimut 24/7 Gym - 12 Month Membership - $377 or $299 for Emergency Services & Special Forces staff](https://files.ozbargain.com.au/n/38/533138.jpg?h=3867ced0)
theHMASfriendship on 24/04/2020 - 15:11 Comment score below threshold.