December 21, 2010 // Franchising.com // COLTS NECK, N.J. - RetroFitness was ranked 236 in Entrepreneur's 32nd Annual "Franchise 500," the world's most comprehensive franchise ranking. It's the brands first appearance on the list. The national gym chain known for providing great value at a low retro-price also ranked 83 in the list of "Top Fastest-Growing Franchises," and 10 in the "Top New Franchise" category.
"This is the first year RetroFitness has been eligible to participate based on number of years operating, and this high level recognition out the gate speaks volumes for the brand," said Eric Casaburi, founder and CEO of RetroFitness, LLC. "To be recognized as one of the fastest-growing franchise systems while ranking in the top half of the list – we really couldn't be more proud of our successes. We look forward to much more to come."
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
"Franchises are not only a great avenue to business ownership for many with a thirsty entrepreneurial spirit, but they're also capable of playing a key role in carrying us into a growing economy," said Amy Cosper, VP and editor in chief of Entrepreneur. "The $153.7 billion in total payroll and 7.9 million jobs they account for speak to that loud and clear, and the ones that made this year's Franchise 500 are a great place for anyone to start their search for the right business."
Less than five years since it began franchising, RetroFitness currently has more than 100 new clubs in its development pipeline, more than 200,000 members, and 60-plus clubs operating. The company projects 300 gyms in the next three years and key markets for growth include Chicago, Atlanta and New York. Additionally, RetroFitness' revenues surpass the national fitness club average by more than 120 percent.
The RetroFitness franchise model continually attracts high quality, single and multi-unit investors who have a strong business acumen. Offering entrepreneurs the opportunity to open in flexible 10,000 to 16,000 square-foot spaces in key U.S. markets where prime real estate is more affordable than ever before, RetroFitness is "fit" for investors in the current economy. Plus, buzz around the brand is reaching a feverish pitch, and several industry icons have taken notice. RetroFitness recently completed a major deal to be a retailer of Under Armour performance apparel, a clear indication of RetroFitness' ability to partner with top class fitness brands.
To view RetroFitness in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January issue of Entrepreneur.
Founded in 2004 by entrepreneur Eric Casaburi, RetroFitness has evolved from a regional Mid-Atlantic gym concept into a national fitness system with more 100 gyms in its development pipeline. Under Casaburi's leadership, RetroFitness has grown to 70-plus gyms in 10 states. Expansion plans call for 300 gyms in the next three years and growth into new major markets such as Chicago, Dallas and Washington D.C. Each RetroFitness location is equipped with a full service fitness center including 60-100 pieces of equipment supplied by leading manufacturers such as Life Fitness and Intek. For more information, please visit www.retrofitness.net, and to learn more about franchise opportunities visit www.retrofranchising.com.