Dec 28, 2007 4:22 PM
Gold’s Gym Announces Year-End Results
DALLAS -- Gold’s Gym International announced that it is ending 2007 with a company-record number of club openings and new franchises. During the 12-month period, the company unveiled more than 60 new Gold’s Gyms around the world and signed more than 75 new franchise agreements.
In 2007, Gold’s Gym opened 52 franchise and 10 corporate-owned locations. This includes new clubs in U.S. cities such as Los Angeles; Dallas; Atlanta; Birmingham, AL; Sacramento, CA; Indianapolis and Austin, TX. It also includes international cities such as London; Tokyo; Jakarta, Indonesia; Caracas, Venezuela; and Mumbai, India. In the coming year, targeted expansion plans include U.S. markets such as New York, Boston, Detroit, Philadelphia, Milwaukee, and San Diego, and international markets such as Madrid, Spain, and Oslo, Norway.
With more than 150 gyms now in its development pipeline, the company anticipates even more growth in 2008.
“What makes this growth phase so exciting is both the excellence of the facilities being built and the type of partners we’re attracting,” David Schnabel, CEO of Gold’s Gym International, said in a statement. “The Gold’s Gyms of today have been built to deliver the ultimate fitness experience for consumers, and our franchise model has made it easier than ever for sophisticated investors to capitalize on our booming industry. This includes individuals who want to make fitness their full-time job as well as institutional players who understand that the future is bright for businesses focused on health and wellness.”
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