The award criteria included the brand's global intentions, marketing efforts, relationships fostered between franchisor and franchisee and the "extent to which this brand has advanced the cause of international franchising," according to the magazine.
“The fitness industry continues to grow and post year-over-year record health club membership,” Ken Phipps, Gold’s Gym's director of global franchise development, told the magazine. “We had a great year [in 2017]. As more people worldwide have realized the benefits of a healthy lifestyle, they embrace our approach to fitness.”
Gold's Gym opened 49 clubs in 2017, including 15 clubs in India and seven in Japan, in addition to striking a development deal in Iraq. Its biggest 2017 venture was a record-sized 140,000-square-foot club in Amman, Jordan, that opened in May.
“Our global footprint is in the best shape financially and physically to make 2018 our strongest year to-date,” Phipps said in a story by Club Industry earlier this month.
Gold's Gym currently operates 701 clubs worldwide, with 550 franchised locations and 151 corporate-owned locations.
Minimum capital required for franchisees is $500,000 in liquid assets and $1 million in net worth.
Gold's Gym plans to add 25 U.S. clubs in 2018, mostly in markets it considers “hot,” such as Atlanta, Minneapolis and Orlando