COLTS NECK, N.J. - January 13, 2017 - (BUSINESS WIRE) - Retro Fitness climbs 123 spots to No. 119 in Entrepreneur Magazine’s newly released “Franchise 500” ranking for 2017.
Noted as the world’s first, best and most comprehensive ranking of the top franchise opportunities in the United States, the Franchise 500 list recognizes and celebrates top franchises based on financial strength and stability, growth rate and size of the franchise system.
The fast-growing, national low-cost high-value fitness franchise opened 14 gyms and signed more than 20 new franchise agreements for new or emerging market development in 2016. With more than 150 locations operating in 16 states, Retro Fitness is on track to have 250 gyms open in the next two years. The franchise has been gaining popularity amongst a diverse group of franchise prospects and is increasingly attracting multi-unit franchisees to its system. In the past 20 months alone, 15 separate groups of multi-unit franchise owners have joined the franchise.
“We continue to expand our footprint and boost memberships because we’re constantly adding value for our members and offering workout-goers a more cost-effective solution for them to achieve their goals,” said Retro Fitness CEO and founder Eric Casaburi. “Entrepreneurial-minded people interested in writing their own future can walk into a Retro Fitness and immediately see how positively our guests respond to our low-cost, high-value operation. Then, they take a look at our financials and see that we’re perennially ranked on reputable lists like the Franchise 500. The more Retro Fitness locations we open, the higher the demand – it’s a cycle we’re proud of, and we’re glad Entrepreneur took note.”
Driving the investor-friendly franchise’s growth are strong-unit economics, streamlined business operations and a focused, forward-thinking approach that continuously brings more value to franchisees and members. For example, the top 10 percent of the company’s franchise units are outperforming the national industry average with $2,175,471 average gross sales, $851,008 average EBITDA, 3,200-plus average membership base and $149.50 average revenue per square foot per unit.**
By combining affordable membership options with a first-class gym experience and state of the art equipment associated with big-box clubs, the gyms attract inexperienced and seasoned exercisers of all ages. Meanwhile, ancillary offerings such as the Retro Blends Smoothie Bar, personal training, small group training, child care, group fitness, pro shop and tanning create additional revenue centers that maximize bottom line returns for franchise owners. Further, with the flexibility to open in 15,000 to 18,000 square-foot spaces, the gyms are designed to scale back on square footage without cutting back on services and staff. This results in lower costs for both owners and members, while still offering high-quality equipment and amenities.
View Retro Fitness’ Entrepreneur Franchise 500 profile online at https://www.entrepreneur.com/franchises/retrofitness/329019.
** The top 10 percent of Retro Fitness clubs average, gross sales, average EBITDA and average revenue per square foot numbers as published in Item 19 of the Retro Fitness 2016 Franchise Disclosure Document. Read Item 19 in its entirety for important defined terms, assumptions and qualifiers relating to these figures.
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 150 gyms open in 16 states. Under Casaburi’s leadership, Retro Fitness is expanding its footprint with more than 100 gyms in its development pipeline and plans to have 250 gyms open in the next two years in new, major markets, such as Florida, Illinois, California, Maryland, Michigan, New York, North Carolina, Pennsylvania, Texas, Utah, 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 has placed in the top 300 of Entrepreneur’s magazine’s prestigious Franchise 500 list for six consecutive years. For more information, please visit www.retrofitness.com, and to learn more about franchise opportunities visit www.retrofranchising.com.
SOURCE Retro Fitness
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