The fitness brand’s latest expansion deal confirms plans for continued growth in Australia as well as its landmark entry to the New Zealand market
Gold’s Gym has entered into a new master franchise agreement for brand development in Australia and New Zealand with Australian investment group Colour Capital.
According to the deal, Colour Capital’s development commitment entails a minimum of 30 new locations in Australia and a minimum of 10 new locations in New Zealand.
In addition to the development of new units, through this deal Colour Capital will acquire the master rights to Gold’s Gym’s six directly franchised gyms currently open and operating in Australia: Fyshwick, Mandurah, Miranda, North Sydney, Port Kennedy, and Rockingham. New Zealand is a brand new territory for the Gold’s Gym brand.
Adam Zeitsiff, president and CEO of Gold’s Gym said: “Through this partnership with Colour Capital, we now have the opportunity to not only grow Gold’s Gym’s Australian presence exponentially but to expand into the exciting New Zealand market as well
“We look forward to working closely with Matt Hope and his team to deliver to these wonderful countries the best of what our global brand has to offer.”
Colour Capital specializes in franchise growth and management, and while Colour Capital’s franchising portfolio is extensive, the deal with Gold’s Gym marks the investor’s inaugural entry to the fitness industry.
Matt Hope, CEO of Colour Capital said: “As we researched options for expanding our portfolio by stepping into the health and wellness space, we immediately recognized an opportunity in the fitness markets of Australia and New Zealand that only the legendary Gold’s Gym brand can fulfill.”
As Colour Capital begins putting in place the infrastructure necessary for their expansion efforts, the Global Franchise Award-winning Gold’s Gym will work closely with the partner to make their transition to master franchise ownership of the previously directly franchised Gold’s Gym locations in Australia as seamless as possible.
