The Barre Code has signed a partnership agreement with Franworth, a franchise-focused growth equity firm, to help it expand its business, the companies announced on Nov. 11. They declined to share the amount of the investment.
Founded in 2010 by Ariana Chernin and Jillian Lorenz as a single location in Chicago, The Barre Code has expanded through franchising to 44 studio locations across 17 states.
“Becoming a Franworth partner gives us access to the unparalleled expertise of John Rotche and his team of franchising industry veterans, and we are thrilled for an opportunity to join the company’s portfolio and take The Barre Code to new heights,” Jillian Lorenz, co-founder of The Barre Code, said in a media release.
She said that she looks forward to leveraging Franworth’s expansive resources to build on the company’s momentum.
“The strength and viability of our business model has enabled The Barre Code to weather the COVID-19 pandemic and head into 2021 positioned for explosive franchise development growth in markets nationwide,” Lorenz said.
The partnership offers The Barre Code’s team the space to focus on their mission of creating programming to grow a best-in-class fitness program, while promoting personal growth and self-acceptance, according to the company.
Chernin and Lorenz designed The Barre Code around the mindset, “you have everything to gain and nothing to lose” as clients of all fitness levels access three core formats: Barre, Bootcamp, and Brawl (a high-energy kickboxing style class).
“As fellow University of Michigan graduates with their first franchise location based in Ann Arbor, our Founder and CEO John Rotche developed and maintained a great relationship based on shared values and culture with Jillian and Ariana several years ago,” Dave Keil, president and COO of Franworth, said in the release. “In the midst of the COVID-19 pandemic, the timing for The Barre Code team to join our portfolio allows this established brand the opportunity to collaborate with our team and our other innovative and women-led concepts with membership models on growing retail and athleisure and further expanding their On Demand fitness offering.”
Franworth offers The Barre Code and its partnership brands access to resources and efficiencies for the franchisor through its menu of services that include finance, franchise administration, real estate, construction, operations and on-boarding, marketing, franchise sales, fulfillment and distribution and executive advisory. The company also offers back-office services.
In addition to The Barre Code, Franworth has investments in CITYROW, a high-intensity indoor rowing concept with 60 new territories in development, as well as Title Boxing Club.