Gold’s Gym Unveils New Value Concept
DALLAS – (March 14, 2011) The brand that has defined America’s fitness experience for more than 46 years with industry-leading innovation is once again breaking new ground.
Gold’s Gym International (GGI) today announced the launch of Gold’s Gym Express ™. Drawing inspiration from the company’s storied history of delivering the ultimate fitness experience, the Gold’s Gym Express is designed to help people of all fitness levels achieve their goals at a great price. In addition, to support the aggressive growth plans for Gold’s Gym Express, the company also announced the formation of Gold’s Gym Capital, a new financing arm of Gold’s Gym International created to help existing and future franchisees secure financing for both Gold’s Gym Express and full-amenity Gold’s Gym locations.
More than 20 corporate-owned and franchised Express locations around the country are already in the planning stages. With excitement for the new concept generating demand in the investment community and with GGI’s current franchise base, the company expects to have more than 100 new Gold’s Gym Expresslocations in the pipeline by the end of 2011. That number is expected to grow significantly in 2012 and beyond.
“The new Gold’s Gym Express will allow us to expand the Gold’s Gym brand in ways not possible before,” said Jim Snow, President of Gold’s Gym International. “It will provide Gold’s Gym International and our new and existing franchisees with another option to grow. From city centers to small towns, this concept is nimble enough to thrive in any setting, and the incredible value combined with Gold’s Gym expertise will help us attract more members than ever. “
Gold’s Gym Express was developed with today’s wide spectrum of consumer needs in mind. From the Gold’s Gym Express‘ signature circuit training area to its strength equipment, collection of cardio machines and Cardio Cinema™, every piece has been put in place to foster easy-in and easy-out access. Even the club’s well-appointed locker rooms and tanning beds offer unrivaled convenience.
The standard monthly dues are expected to start at $9.99, with an upgraded membership available at $19.99 which includes unlimited guest privileges, additional services and access to all Gold’s Gym Express
Gold’s Gym Express will provide investors and franchisees with a fully-managed, turnkey solution that allows them to quickly and easily get their club up and running. This includes support in the areas of construction, site selection, architecture, marketing, operations training and purchasing.
The Gold’s Gym Express’ footprint requires between 10,000 to 25,000 square feet of space, less than a typical full-amenity Gold’s Gym. Its lower cost structure permits expansion into previously undeveloped areas, including rural and urban areas that might not be able to support a full-amenity gym.
Continued Snow, “There is not a more powerful name tied to an express fitness concept in the marketplace. Period. We are redefining the value category with a world-class concept and unmatched service delivery.”
Gold’s Gym Capital Helps Franchisees with Heavy Lifting
Through the creation of Gold’s Gym Express, GGI forecasts growing the company’s total footprint (for both Gold’s Gym Express and its traditional clubs) to more than 1,000 locations in just three years.
Gold’s Gym Capital has been formed to solidify the company’s aggressive outlook, giving franchisees the much-needed support to get gyms financed. Chuck Lemar, recognized as one of the most knowledgeable finance professionals in the fitness industry, is joining Gold’s Gym as Senior Vice President of Gold’s Gym Capital, bringing to his new position more than 10 years of experience at Cybex and a career dedicated to financing. Lemar’s previous work in the fitness industry includes assisting gym owners in obtaining financing, along with developing and sustaining collaborative relationships with bankers, vendors and franchisees.
“Gaining access to capital has been one of the greatest barriers to growth in our industry,” said Lemar, whose successful career in finance began more than 40 years ago. “Now GGI has a concrete way to help new and existing franchisees overcome this obstacle and I am excited to help them with the financing process. The growth opportunities under the Gold’s Gym umbrella are now endless.”
For investors looking to join the storied brand as part of the franchise system, the Gold’s Gym Express lowers the barriers to entry into the Gold’s Gym system. In addition, it provides experienced entrepreneurs from a variety of backgrounds the rare opportunity to invest in one of the world’s most popular brands and have a positive effect on the communities they serve.
About Gold’s Gym
Established in Venice, Calif. in 1965, Gold’s Gym is the largest full-service gym chain in the world with more than 700 locations in 42 states and 30 countries. The iconic brand ranks in the top 15 percent of Entrepreneur magazine’s 2011 “Franchise 500.” Gold’s Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, group cycle, Pilates and yoga. With nearly 3.5 million members worldwide, Gold’s Gym helps all kinds of people achieve their individual potential through fitness. For more information please visit www.goldsgym.com or www.facebook.com/goldsgym.