Gold's Gym International Opens Gym In Formerly Franchised Briargate Location

Gold's Gym International Opens Gym In Formerly Franchised Briargate Location

Franchisor Reaches Agreement to Add Briargate Facility to Its Portfolio of 65 Corporate-Owned Clubs, Looks to Expand In Colorado Springs

COLORADO SPRINGS – November 22, 2011 - Gold’s Gym International (GGI), the franchisor of the independently owned and operated Briargate Gold’s Gym location at 7655 N. Union Blvd., announced today that it has entered into a lease for the facility through one of its subsidiaries.

GGI, which franchises more than 600 Gold’s Gyms in 43 states in 30 countries, also owns and operates 65 corporate facilities. GGI had recently stepped in to manage the Briargate location when a dispute between the franchisee and the landlord of the shopping center temporarily closed the gym. GGI immediately flew its own staff to Colorado Springs to re-open the gym so that the dispute would not affect members. Now, the company has reached an agreement to operate the facility and will officially bring it into the GGI’s family of corporate-owned locations.

“We are thrilled to add Gold’s Gym Briargate to our growing portfolio of corporate-owned gyms,” said Jim Snow, president of Gold’s Gym International. “Members can look forward to a strong management team that is customer service-driven and heavily focused on the community. We were happy to step in so that members could continue their workouts and will immediately begin re-staffing the gym and making sure it delivers the ultimate fitness experience.”

GGI will honor all existing membership rates from the previous ownership group. In addition, the company has immediately begun the process of re-staffing the gym and hopes to bring back as many employees from the former ownership group as possible. It will also be hiring managers, sales people, group exercise instructors, personal trainers and other positions from the Colorado Springs Community.

During the staffing process, some services may be temporarily suspended, but the company expects to have the gym fully operational very soon. Updates will be posted at the gym and on goldsgym.com as the process moves forward.

Gold’s Gym Briargate members will now be serviced by a strong ownership group with years of award-winning customer service experience. GGI is one of the largest and most respected companies in the fitness industry. Founded in 1965, the company has more than 46 years experience delivering life-changing results for its members and is universally perceived as the authority in fitness. In addition, GGI has invested heavily in club enhancements and development in recent months. This includes investing more than $20 million in club improvements, new gym development, franchise growth and acquisitions, all of which demonstrate the momentum behind the company.

“We look forward to servicing the members of the Briargate location and the entire Colorado Springs Community,” added Snow. “We have aggressive growth plans for the market and this acquisition only represents the first step. We will be looking to expand rapidly in the future and look forward to providing the community with the best in fitness for years to come.”

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 650 locations in 43 states and 30 countries. Gold’s Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, group cycle, Pilates and yoga. With nearly 3 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.

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