Ggi And The Ggfa Announce Formation Of The National Franchise Council

By: Gold's Gym | 0 Shares 164 Reads

(Wednesday, November 15, 2006) - Gold's Gym International (GGI) and the Gold's Gym Franchisee Association (GGFA) announced today a 10-year agreement and the formation of the National Franchise Council, a groundbreaking steering committee designed to discuss and resolve matters of interest to the Gold's Gym system.

Created out of continued dialog between GGI and the GGFA, the NFC will be a six member Board of Directors whose collective mission is to shape the future of Gold's Gym. They will meet regularly to discuss matters raised by either side and will address key issues facing the Gold's Gym network, such as the format of Gold's Gym's national vendor program and the Gold's Gym national Ad committee.

"The National Franchisee Council reflects the increased spirit of collaboration between GGI and its franchisees," said Keith Albright, Senior Vice President of Franchising for Gold's Gym International. "As we continue to grow our franchise operations, we believe that it is critical to have the support and input of the GGFA."

In addition to meeting to address matters that affect the entire brand, the NFC will serve as a forum to resolve issues amongst Gold's Gym franchisees.

"A franchisee must have a mechanism for change as the world changes around us," said Blair McHaney, Vice President of the GGFA. "The NFC gives Gold's Gym franchisees a collective stake in change and in the future of Gold's Gym, as well as a structure to resolve issues that impact their business. As the Gold's Gym brand continues to grow and evolve, we think that transparency and cooperation between GGI and the GGFA is critical…and the NFC provides that."

The NFC Board of Directors will consist of three members from the GGFA and three from GGI. The representatives from the GGFA will include the Chairman of the GGFA and two other members elected or appointed by the GGFA. GGI representation will include the company's CEO and two other officers of the company.

The GGFA's franchise attorney, Andrew Selden of Briggs and Morgan in Minneapolis, observed that "The NFC promises to be an extremely positive development for both the Gold's Gym Franchisees, and the brand itself. It helps make a Gold's Gym an attractive franchise investment, because the NFC structure catapults Gold's Gym to the front of the pack in terms of modern 'best practices' in American franchising."

Any franchisee can raise an issue for discussion with the NFC so long as they are a member of the GGFA and in good financial standing with GGI. Subcommittees to address and resolve various issues will be formed regularly and can include franchisees from around the Gold's Gym system, so long as they meet the requirements mentioned above.

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About Gold's Gym
Established in Venice, Calif. in 1965, Gold's Gym is the largest co-ed gym chain in the world with over 600 locations in 42 states and 27 countries. Gold's Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, spinning, Pilates and yoga, while maintaining its core weight lifting tradition. With nearly 3 million members worldwide, Gold's Gym continues to change lives by helping people achieve their individual potential.