LifeSport – Case Study

The Missing Piece of the Puzzle

Executive Summary

In 1986, LifeSport owner Steve Wild rescued the former Libertyville Racquet Club and founded the LifeSport Athletic and Tennis Clubs. Wild has grown the business from what initially began as a single tennis club to five locations in the Midwest between Chicago and Milwaukee.

After learning about ITR Economics through a friend and discovering our forecast for a global economic depression in the 2030s more than 10 years ago, the client signed up for the Financial Resilience program, trusting in the insights from ITR Economics to help lead the business through the difficult decade ahead.

  • Before signing up for the Financial Resilience program, LifeSport benefited from several key ITR Economics services, such as the Trends Report™, Insider™, and DataCast™.
  • The Financial Resilience program provided LifeSport with a fully customized 15-year blueprint for navigating the remainder of the 2020s and the forecasted depression ahead in the 2030s.

The program equipped the client with a clear and actionable roadmap to navigate economic uncertainties ahead with confidence.

I think in so many instances, as entrepreneurs, we’re stabbing in the dark and hoping for the best. And I think there’s a reason why financial revenue projections don’t always work out the way you’d like them to. But what I was so impressed with was the fact that ITR Economics could take a look at my 10-year revenue projections and correlate them with various economic indicators and give me a roadmap for what’s going to happen going forward.” – Steve Wild, Founder & CEO of LifeSport Tennis & Athletic Clubs

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"2008 was sort of a traumatic experience for me because my business suffered quite a bit through that...

You develop a little bit of PTSD from that and the healthy respect for how the exogenous or external events can affect your business. And so, when I heard about the financial resilience, I said it's well worth it.” – Steve Wild

LifeSport

Challenges

Just as it was for so many businesses, the 2008 Great Recession was devastating for LifeSport. This infamous event caused significant business struggles following the economic downturn, as LifeSport lacked the necessary tools and insights to make informed, long-term decisions.

Now, equipped with knowledge of the impending depression of the 2030s, LifeSport has consulted the experts at ITR Economics to get a customized company forecast. With this in hand, they can avoid unnecessary risks and ensure the longevity and success of their business beyond the depression.

How Product Helped

As part of the Financial Resilience program, Wild received personalized insights and strategic advice directly from ITR Economics. These meetings with ITR gave Wild a clear and actionable roadmap to navigate any upcoming economic challenges, highlighting the critical economic indicators that impact LifeSport the most. Key aspects were also discussed, from interest rate forecasts to labor market trends, providing solutions to mitigate rising labor costs and increase efficiency.

The client recognized that the potential losses from not being prepared far outweighed the investment in the Financial Resilience program. This realization highlighted the value of proactive strategic planning and the importance of being prepared for the economic challenges ahead.

“I think the Financial Resilience is very much analogous to that in the sense that it's not the cost of the program, it's the cost of not doing it...

It's the millions that you could lose. The devastation. The 2030s is going to wreck on your family, your lives, and everything else. So, to me, is a lot of money for my business? Yes. But it's small in comparison to what the damage could be.” – Steve Wild

LifeSport

Results, Return On Investment, And Future Plans

ITR Economics’ Financial Resilience program proved to be a lifesaver for the client, providing them with the tools and insights needed to navigate future economic challenges. The client viewed these insights as “the missing piece of the puzzle” they lacked in 2008 during the Great Recession, which put substantial strain on the business.

By leveraging expert guidance and adopting a proactive approach, the client was able to ensure the longevity and success of their business, even in the face of significant economic uncertainties. The program’s benefits extended beyond financial metrics, offering peace of mind and a strategic advantage in a highly competitive industry.