Orangetheory Fitness, Boca Raton, Florida, opened its 1,000th studio on July 21, eight years after the brand started, the company announced.
The milestone studio is located in Portland, Oregon, which already had two Orangetheory studios.
The Portland studio’s franchisee is Jamie Weeks, CEO of Honors Holdings, which owns and operates 52 Orangetheory Fitness studios with 13 more in development, across the United States. Last year, Weeks signed on as a master franchisee to open 70 studios over the next decade throughout Southern England, including at least 30 studios in London.
Orangetheory Fitness CEO and co-founder Dave Long was on hand for the ribbon-cutting ceremony at the new location.
“It’s fitting that we are celebrating this milestone here in Portland, a city that shares our passion for achieving More Life through greater health and vitality,” Long said in a media release. “With today’s Portland grand opening taking us to 1,000 studios, we’re well on our way to our goal of operating 2,500 studios – serving 2.5 million members – by 2020.”
The company’s 1,000 studios are in 49 states and 18 countries, including the United States, Canada, the United Kingdom, Australia, Mexico, Dominican Republic, Colombia, Japan, Israel, Peru and Chile. The company has more than 500 studios in the development pipeline. At the end of 2017, Orangetheory had 880 studios in 48 states and 17 countries.
Long stated in April that he anticipates to have $1 billion in system-wide revenue at the end of this year. For 2017, the company reported $738 million in system-wide revenue. Revenue from company-owned clubs and franchisee fees made up $136.44 million of that 2017 system-wide revenue, according to the Top 100 Clubs form that the company submitted to Club Industry for this year's list, which will be released in a few days. That list ranks franchisors just on revenue from company-owned stores and franchisee fees since individual franchisees can also apply to be ranked on the list. The $136.44 million landed Orangetheory Fitness in the top 15 on the list.
Orangetheory Fitness was ranked at No. 48 on the 2018 Franchise 500 Ranking by Entrepreneur. It also ranked No. 1 on Franchise Times' 2018 Fast & Serious list, which recognized the company as the smartest-growing brand in the industry.