Retro Fitness, Inc., Inks Development Agreement to Add Two New Locations in Philadelphia
1980s-Themed Gym Chain to Open Locations in King of Prussia and East Norriton
September 14, 2009 // Franchising.com // Colts Neck, New Jersey - Retro Fitness, Inc., a national 1980s-themed gym chain, announced today that it has signed a franchise development agreement to open two new locations in East Norriton and King of Prussia, PA. The agreement will bring the total number of Retrofitness locations in the Philadelphia market to six. Company plans call for an additional 14 new locations to open in the region during the next 36 months.
"Philadelphia is a prime expansion market for Retrofitness and we are thrilled to be executing our strategic growth in the area," said Eric Casaburi, CEO of Retro Fitness, Inc. "The Retrofitness business model continues to attract qualified investors who seek job security, flexibility and the chance to secure their financial futures amid an unstable economy. We look forward to increasing Retrofitness presence in the market and are armed and ready to offer consumers a fitness experience of a lifetime."
The anticipated business development indicates that Retrofitness and its franchisees will infuse more than $20 million into the Philadelphia market through local investments. Once complete, the expected 20-plus locations together will employ at least 350 people.
Retrofitness features an ambience unlike any other fitness club, appealing particularly to Generation Xers seeking an escape back to the days of big hair and tapered jeans at an affordable monthly rate of $19.99. Gyms feature retro-style color schemes, classic pop-culture 80s music and a 'RetroTheatre' where members can burn off calories on treadmills, recumbent bikes and ellipticals while watching famous 80s flicks such as Sixteen Candles and Ferris Bueller's Day Off, as well as a full collection of more than 50 top-of-the-line strength equipment and cardio machines complete with individualized LCD television monitors.
In addition, Retrofitness offers members a full-service RetroBlends juice bar serving drinks packed with a nutritional punch, providing franchisees an additional revenue stream. Personal training, tanning and locker rooms are among the amenities available at every Retrofitness location.
Each club is 10,000 to 15,000 square feet and contains about $400,000 worth of equipment. About 80 percent of Retrofitness gyms offer in-house chiropractic and childcare services. Potential investors need approximately $1 million to get a club up and running, which includes equipment, franchise fee and build-out costs. Retrofitness offers franchise investors a full suite of support services including: access to strategic leasing and financing partners, site selection, full staff training on-site or at Retro-University, ongoing operational assistance, sales consulting, architecture and marketing.
Founded in 2004 by Eric Casaburi, Retrofitness was created to provide an exciting and inviting environment for all levels of fitness enthusiasts. Each Retrofitness location is equipped with a full service fitness center including 60 to100 plus pieces of equipment supplied by the leading manufacturer of equipment supply, Life Fitness. In addition to equipment, members can enjoy a RetroBlends Juice Bar, personal training services, tanning and a retro cardio movie theatre featuring famous 80's flicks. The company currently has 39 clubs open and in operation, with an additional 80 locations under development.
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