In 2019, Gold’s Gym International, Dallas, finalized 22 American franchise agreements and opened 35 locations, the latter of which is a company record.
“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,” Gold’s Gym CEO Adam Zeitsiff said in a Jan. 15 media release. “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.”
In the release, the company recapped some of its 2019 highlights, which included the opening of nine clubs in Japan, eight clubs in India, five clubs in Saudi Arabia and four clubs in Egypt. The company also signed new master license agreements in Australia for 30 locations and in New Zealand for 10 units.
Also in 2019, franchisee group Gold’s Gym SoCal franchise group acquired two corporate locations, while 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,” Chief Development Officer Craig Sherwood said in the release. “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.”
Gold’s Gym was founded in 1965 and currently claims more than 700 locations with three million members worldwide.
Gold's Gym ranked No. 8 on Club Industry's 2019 Top 100 Clubs list with 2018 revenue from corporate-owned clubs and franchisee fees of $302 million. Its full franchise revenue (including revenue from individual franchisees) was reported by the company as $872 million in 2018.
For more on Gold's Gym, listen to Club Industry's May 2019 podcast with Zeitsiff. This was Club Industry's second most popular podcast episode in 2019.