Gold’s Gym franchisees Angel and Willy Banos have acquired three health clubs in Santa Barbara, California, from The Bay Club Co., San Francisco, for an undisclosed amount, the brothers announced in a media release.
The three clubs are the uptown location on State Street, the downtown location on Carrillo and the Goleta location on Calle Real.
At one time, the clubs had been Gold's Gym locations before being sold to Spectrum Athletic Clubs. When The Bay Club Co. purchased Spectrum Athletic Clubs' 11 remaining locations in April 2015, these three facilities were rebranded as The Bay Club Co., according to a spokesperson for Gold's Gym SoCal. Now, the clubs are once again under the Gold's Gym brand.
The Banos brothers plan to renovate the locker rooms, install new flooring, add new group fitness programs, update the pro shops (Gold’s Gym retail center), add bottle drinks and bars and add Super Nutrition by dotFIT.
“Our main focus is to make a positive impact on people’s lives through our passion for fitness and maintaining a healthy lifestyle,” said Willy Banos, vice president and COO of Gold’s Gym Santa Barbara. “As one of the top-performing franchisees, we are dedicated to raising the bar for the Gold’s Gym experience and developing, evolving and expanding the brand.”
The brothers do not plan a rate increase, and they are offering reduced rates for longer contracts, according to the release.
“Santa Barbara is particularly special to us as it has been our home for the last four years, and we are looking forward to providing a positive influence within the community,” said Angel Banos, president and CEO of Gold’s Gym Santa Barbara. “We are committed to reinvigorating Gold’s Gym as a place that not only allows you to achieve your health and fitness goals, but a place where you want to be: to connect, to escape, to relax and - of course - sweat.”
The Banos brothers opened their first Gold’s Gym in 1987 in North Hollywood, expanding to 15 gyms in California since then. Their passion for health, wellness and fitness led them to Gold’s Gym where they now operate the largest Gold’s Gym franchise group in the state.
The Gold's Gym franchisees celebrated their 25th anniversary earlier this year along with a renovation of its Hollywood, California, location.
In 2012, Angel Banos received the Gold’s Gym Hall of Fame Award at the annual franchisee convention.
In July, the brothers became active partners in PTontheNet and PTA Global where they will contribute their health club operations experience to content development.
The Bay Club Co. ranked No. 8 on Club Industry's 2016 Top 100 Health Clubs list with 2015 revenue of $219.33 million.