Gold’s Gym International, Dallas, has sold 24 of its corporate-owned facilities in the Washington, D.C., area to former Gold’s Gym International executives, the company announced.
Matt Clifford, Brenda Jorgensen and Josh Fuglsby purchased the franchise rights to the locations under their CFJ Holdings company. Clifford, who started in 2001 as a front desk team member at a Gold’s Gym in the District, eventually worked his way into the role as senior vice president of eastern U.S. operations for Gold’s Gym International. Jorgensen formerly was director of human resources for Gold’s Gym for the eastern United States, and Fuglsby held multiple roles during his 20 years with Gold’s corporate, including regional vice president overseeing Gold’s Gym operations across San Antonio, Colorado and California.
Clifford will serve as president and CEO of CFJ Holdings, Jorgensen will assume the role of chief experience officer for the franchise group, and Fuglsby will serve as the group’s chief operating officer.
In the District, Maryland and Virginia area, Gold’s Gym now has more than 40 franchised locations.
“The fact that the gym I once served as a front desk team member for is now one of 24 Gold’s Gym locations we own and operate is a testament to the incredible opportunities we have access to as part of the Gold’s Gym family,” Clifford said in a media release. “My partners and I see tremendous potential to enhance the Gold’s Gym experience in the D.C. market. We are excited to strengthen the ties between the Gold’s Gym brand and the communities we serve across the greater DC area.”
Gold’s Gym President and CEO Adam Zeitsiff said in the release that the acquisition was a strategic one that will strengthen the brand’s position as a franchisor.
“Matt’s knowledge of the area plus the combined 45 years of Gold’s Gym leadership experience he and his partners bring to the network make them the perfect fits for their new franchising roles,” Zeitsiff said.
Gold’s Gym ranked No. 8 on the Club Industry Top 100 Clubs list with $302 million in 2018 revenue from corporate clubs and franchisee fees. The revenue does not include revenue from franchised locations.