This is the second roundtable with this group (check out the first). In this chat, they discuss:
- Favorite Parts of Working in the Industry
- Pet Peeves of the Industry
- DIY Projects from the Inventor’s Perspective
- Why Are Equipment Prices Going Up?
This episode can be watched on Spotify and YouTube or listened to wherever you get your podcasts like Apple and Anchor.
(0:40) Favorite parts about working in the fitness industry?
- The industry is filled with people that are passionate about helping others.
- A genuinely good cause. They are working in an industry that is ultimately supposed to promote humanity, make lives easier, and help them live healthier lives.
- Product development part is exciting and constantly changing, which always keeps it interesting.
(4:56) Pet peeves of working in the fitness industry
Most seemed to be on the same page with this one. The top answers included:
- Those only in it for the money.
- High egos of some, which can spread easily.
- The idea that they are doing the right thing and you are not.
- As inventors many expressed angst with copycat products after it took them years to develop certain items, especially if they simply have more resources to begin with.
- None of these are massive companies here. It’s tough for them to compete with what larger companies can do and the perception that they should be able to offer everything someone like Amazon does.
(14:29) DIY projects from the inventor’s perspective
There were some mixed feelings and some have definitely been affected by this in either a negative or positive way. Key themes included:
- Issues start to happen when someone decides to market it as a product to specifically replace a certain product.
- If you decide to do it, proper notice and acknowledgement to the inventor should be given.
- Several discussed that they do not see it as much of a threat.
- The “DIY” crowd may not necessarily be their ideal customer. What they sell is convenience.
- Many in the DIY community are solving problems that have not yet been solved. This can ultimately add some inspiration for them and can potentially advance the industry.
Sometimes DIY projects turn into real products…
(33:13) Why are the prices of gym equipment going up?
All were in the same boat on this question. This was a really insightful conversation for those in the thick of it and there are many reasons for the increases.
- “UPS, Jeff Bezos, Mark Zuckerberg, next question.” – Dylan
- The cost of materials going up is likely the number one reason for everything going up. For example, cardboard is up 30% and steel prices are 3x higher than they’ve been in the recent past.
- Shortage of supply and increase of demand.
- Keeping skilled labor is extremely difficult right now.
- Ultimately none of them believe that the cost of gym equipment is going to go down.
