June 16, 2014 // Franchising.com // COLT’S NECK, N.J. – Retro Fitness, a leading low-cost, high-value fitness franchise, has been named one of America’s Best Franchises, according to Forbes magazine’s first-ever list of the best and worst franchises in the nation.
The Forbes "Best and Worst in Franchising" was created from performance and revenue metrics compiled and analyzed by FRANdata, a research and consulting firm that focuses on studying the comparative performance of franchise brands. FRANdata went through publicly available information on 3,000 franchise brands and measured them according to three main criteria: five-year unit continuity rate, unit growth rate and franchisee support score. The franchisee support score is comprised of three categories that are important to prospective franchisees, including financing, marketing, and initial and ongoing operational support programs.
With a growth rate of 24 percent and continuity of 94 percent, Retro Fitness was ranked second among franchise chains with entry costs of $500,001 and up.
"We are humbled once again to be recognized as one of the best franchises in America – especially by such a prestigious publication like Forbes," said Retro Fitness Founder and CEO Eric Casaburi. "We have had tremendous growth since we began franchising in 2006 and are honored that others are taking note of this. Our goal, although, is to be number one."
In 2013, Retro Fitness opened more than 25 clubs and attracted a 20 percent increase in members. All told, the fitness franchise has more than 110 gyms operating in 13 states with another 100 planned to open this year.
Retro Fitness has proven to be an innovative leader in the fitness industry, offering entrepreneurs the opportunity to open in flexible 12,000 to 16,000 square-foot spaces during a time when prime real estate is more affordable. Plus, each facility is designed to offer high-quality equipment and amenities while scaling back on square footage to lower costs for both owners and members, without cutting back on services and staff.
The average initial investment to own and operate a Retro Fitness franchise is between $1,006,600 and 2,065,500 – which includes a one-time franchise fee of $69,000 and a full equipment package. Retro Fitness is currently on track to have more than 300 locations open in the next three years and has territories available in all 50 states.
Full results of the Forbes "best" and "worst" in franchising can be found at http://www.forbes.com/best-worst-franchises-to-buy/.
Founded in 2004 by entrepreneur Eric Casaburi, Retro Fitness has evolved from a regional Northeast gym concept into a national fitness system with more than 110 gyms open in 13 states. Under Casaburi’s leadership, Retro Fitness is expanding its footprint with more than 100 gyms in its development pipeline and plans to open 300 gyms in the next three years in new, major markets, such as Florida, Illinois, California, Maryland, New York, Virginia, and Washington, D.C.. Each Retro Fitness location is equipped with a full-service fitness center, including 60-100 pieces of equipment supplied by leading manufacturers. The burgeoning franchise was named one of America’s best franchises by Forbes magazine and has placed in the top 300 of Entrepreneur’s magazine’s prestigious Franchise 500 list for four consecutive years. For more information, please visit www.retrofitness.com, and to learn more about franchise opportunities visit www.retrofranchising.com.
SOURCE Retro Fitness
Fishman Public Relations