April 25, 2013 // Franchising.com // Needham, Mass. - Although the economy is slowly picking up, bank lending is still hard to come by, especially for business owners. As a result, franchised companies are looking for creative new financing options to meet their needs.
To provide increased financial support for its current and potential franchisees, fitness chain Get In Shape For Women recently announced a strategic relationship with Nexus Retail, a company that works with franchises to finance, design and develop new stores. Under the terms of the agreement, Nexus will finance up to $7.5 million in new store development, resales, and refinancing for qualified franchisee candidates.
“This new relationship is going to be highly beneficial for our existing franchisees as well as new franchise owners as we launch a national expansion campaign,” said Lou DeFrancisco, president and COO of Get In Shape For Women. “We plan to add 20-25 new locations this year, with a particular focus on the Northeast, and Nexus Retail will be instrumental in supporting new locations.”
Founded in 2006 by Brian Cook, Get In Shape For Women offers small group, personal training for women in a private, upscale studio. Clients experience weight training, cardio, nutrition support and accountability for a complete fitness program for women. The company currently operates 101 studios in 18 states across the country and expects to add 20-25 additional locations by the end of 2013. Get In Shape For Women plans to grow 25 percent each year toward its eventual goal of 5,000 locations worldwide. The Northeast, particularly New Jersey, is the primary target for growth in 2013. For more information, please visit www.getinshapeforwomen.com.
SOURCE Get In Shape For Women
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