Less than a decade ago, most products and services came with one glaring loophole.
You had to sign up and commit to some sort of agreement beyond just a handshake. In fact, everything from cell phones to cable and everything in between carried with it a stubborn, cumbersome and unwanted contractually agreement.
If you wanted a cell phone, you had to sign up for two years. Cable typically carried some sort of annual contract as well. Even the idea of exercising and getting healthy came with a long term deal involved. Most gyms and health clubs not only sported high prices for walking on a treadmills or lifting weights but also asked you to sign up for one year at a time.
Fast forward to present day, and the idea of a contract hardly carries the kind of weight it once did not that long ago. Cell phone companies still deal in contracts, but that hardly is the first offer they put on the table. The heavy hitters like AT&T and Verizon offer plans that include a monthly fee for phones but minus the long term contract.
Cable is in the same boat as Comcast and Verizon ditched the contracts in favor of month to month plans that still include fairly decent pricing and incentives to join their team versus the competition. Even your neighborhood health club and litany of franchises such as Planet Fitness and L.A. Fitness have cut their prices in half and allow you to stop whenever you'd like, whether you've been on that elliptical for 45 minutes or decide to stay at the gym for years.
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