Global fitness franchise, Gold’s Gym, capped off 2019 with a record-setting 22 U.S. franchise agreements finalized and a total of 35 openings worldwide over the year.
The international grand openings spanned Japan (nine new locations), India (eight), Saudi Arabia (five), Egypt (four), Russia (two), Turkey and Armenia (a single gym in each). New international master license agreements were also signed for Iraq (five units), Australia (30), and New Zealand (10).
As well as growing its overseas portfolio, the workout brand also opened new gyms in New York, Florida, South Carolina, and Michigan, and signed domestic franchise agreements for North Carolina (eight agreements), Tennessee (five), South California (four), South Carolina (two), Michigan, Georgia, and Texas.
Adam Zeitsiff, CEO of Gold’s Gym, said: “This past year of success serves as proof that the Gold’s Gym franchise opportunity is more attractive than ever as an investment in the fitness industry.
“Our continued franchise development achievements from 2019 have set the stage for what we anticipate will be another impressive year of growth on a global scale. With our signature programming we’re providing on a global scale, I look forward to what this new year will bring as we continue our focus on delivering the Gold’s Gym experience to our members.”
Also throughout 2019, Gold’s Gym worked to consolidate and optimize brand ownership through franchisee acquisition of company-owned clubs. Gold’s Gym SoCal franchise group acquired two facilities, and Gold’s Gym Tennessee acquired eight.
“As we head into 2020, I feel we are equipped with the perfect recipe for success: the right corporate leaders, the right franchisees and the right business model,” said Craig Sherwood, Gold’s Gym Chief Development Officer. “With some major expansion opportunities already in the works, my team and I are proud to play a role in continuing to grow this brand 55 years beyond its inception.”
