F45 Training Holdings Inc., Austin, Texas, will open studios inside private golf and country clubs owned by Concert Golf Partners, F45 Training announced on Dec. 21.
Through this licensing agreement partnership, Concert Golf Partners will open and operate new F45 studios across its network of 22 golf courses and country clubs throughout the United States. The first location will open at the Indian Spring Country Club in Boynton Beach, Florida, in spring 2022.
F45 will get a flat monthly licensing fee from Concert Golf Partners, and Concert will keep the profits, according to F45.
In the future, rather than a licensing agreement, the model may change to a management agreement between Concert and F45 franchisees, according to F45 Training.
F45 is seeking to execute on its “large and expanding total addressable market” by partnering with its first golf and country club partner, according to Adam J. Gilchrist, F45 president, CEO and chairman, who also noted that there are 14,000 golf and country clubs around the country.
Peter Nanula, CEO of Concert Golf Partners, said: “Concert Golf Partners has always been committed to offering its members the very best experiences and services. To that end, we are thrilled to announce this innovative partnership with F45, which will allow us to deliver to our members a new best-in-class fitness offering.”
Concert Gold Partners has $250 million in long-term equity capital to invest in and upgrade large-scale private clubs located in major metro areas, according to the announcement.