Orangetheory Fitness, Boca Raton, Florida, announced it opened 294 new studios across the globe in 2017, in addition to reporting $738 million in annual revenue. This represents a 7.5 percent increase in same-store sales, according to a Jan. 30 media release from the company.
Orangetheory Fitness has accelerated its development strategy by signing 291 new franchise agreements in 2017, the release noted. To reach $1 billion in annual revenue, Orangetheory plans to open 300 new studios in 2018, with an emphasis on international growth in countries such as France and Germany.
“Orangetheory Fitness’ explosive success has further established the brand as a truly exceptional concept with a strong business model that allows for tremendous growth," CEO Dave Long said in the release. "Less than 10 years since its conception, our brand has become the leader in the fitness industry, and the passion of our franchisees has been a driving force behind these achievements. ... 2017 was a huge year for Orangetheory Fitness, and moving into our new global headquarters has allowed us to expand our team alongside the company’s growth. We look forward to accelerating this momentum and going ‘all out’ as we take the brand to new heights in the years to come."
In May, the brand signed its 1,000th American franchise development agreement since being founded a decade ago. Long expects the company will operate at least 1,130 studios by the end of 2018.
Also in 2017, Orangetheory established a master franchise agreement to develop 70 studios across the United Kingdom through 2027.
Orangetheory currently claims 880 studios in 48 states and 17 countries.
The brand ranked No. 17 on Club Industry's Top 100 Health Clubs of 2017, reporting a 62 percent revenue jump year-over-year, as well as 438,536 members. The revenue reported in the Top 100 included revenue from corporate-owned locations and franchisee fees but not revenues from each franchised location.