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In celebration of Black History Month and building on its Project LIFT initiative, Retro Fitness has announced progress in achieving its goal of bringing affordable, high-quality fitness to 50 Black and Brown communities across the U.S.
Launched in May 2022 in partnership with the BlackRock Impact Opportunities Fund and James Collins, Managing Partner of Eastwood Capital Partners, Retro Fitness aims to open 500 gyms in 5 years through Project LIFT. Collins became the first investor under Project LIFT, with a commitment to open a minimum of 80 gyms in four different territories: Dallas/Ft. Worth, Houston, Southeast Florida, and Long Island/Queens.
“Project LIFT aligns perfectly with my values,” says Collins. “We’re investing in communities while creating jobs and fostering holistic well-being for all our members. These clubs will be predominantly in working- and middle-class Black and Brown communities and staffed by people of that community.”
Project LIFT investors will benefit by receiving a waived franchise fee and 50% off Year 1 royalties. Additionally, Retro Fitness will be donating a percentage of its royalties back to a mutually agreed-upon organization for the entire life of the business.
“We have an opportunity to demonstrate how organizations — big or small — can give back and support their local community,” said Retro Fitness CEO Andrew Alfano. “At its core, Project LIFT is about giving back to these communities in the form of exercise, health, and fitness, monetarily and through sincere engagement. James is not just opening a gym — he is giving back and helping people live their best lives by becoming a part of the fabric of these communities as well as creating jobs and career paths.”
Collins currently owns locations in Texas (Garland, Pasadena, Mesquite, North Dallas, and Richardson), New York (Bay Shore, Ronkonkoma, and Elwood) and Florida (Delray Beach, Lauderhill, Lake Worth, and Wellington). Memberships at the Pasadena, Delray Beach, and Lauderhill locations are available for presale.
Retro Fitness, franchising since 2006, currently has 200 health clubs open or in development. For more information, visit retrofitness.com.