1 rich Libsyn https://www.libsyn.com 300 600 It's Thursday and that means a 2 Minute Financial Drill! Now that we're slowly creeping into the fall and the pending restart of the HALO Academy in a new format (more on that later) keep an eye out for these. This one is clipped from&amp;nbsp;Pete Moore's panel with Brian Smith at Piper Sandler at this past Athletech News ATN Summit in NYC. ● PureGym US, Crunch area developers, and Planet Fitness area developers are the three strategic buyers actively circling independent clubs right now. ● These buyers are contractually obligated, through franchise development milestones, to open in a market whether or not an independent operator agrees to sell. ● Irrational development, i.e. overclubbing a market, is described as the biggest risk to profitability for independent operators and investors alike. ● If a strategic buyer reaches out, engaging is recommended over ignoring the outreach, since they will build around an operator who doesn't transact. HALO Talks: Elevating Wellness https://www.halotalks.com <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/42423210/height/300/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="300" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/205063685