If members clubs are booming, why did the biggest one in the world lose $163 million? Meanwhile one club in London made $17 million in profit. Soho House didn’t fail because members clubs are a bad business. It failed because it borrowed heavily to build dozens of them and the interest outran the profit. Part 1 on why these clubs are taking over New York is up now. #sohohouse #membersclub #privatemembersclub #businessstrategy #businessmodel