Sasquatch Strength Buys Out Private Equity Partners as Franchise Expands Nationally
Seattle-based fitness concept prepares for aggressive national growth
December 11, 2020 // Franchising.com // SEATTLE - As Sasquatch Strength continues to dot the Seattle metro landscape with new gyms, the Redmond-based fitness chain has bought out its private equity partners in preparation for national expansion going into 2021. The education-based fitness concept that has thrived even during the pandemic plans to sign deals for 14 new locations in the next 12 months.
After opening its first franchise location this year, the concept currently has four gyms in the Seattle metro area with another expected to open in Kirkland in the spring. Sasquatch Strength has also already signed its first out-of-state deal in Orlando and plans to continue expansion on both a local and national front. The franchise has bought out equity from The Franchise Founders Group, who specializes in launching and growing successful franchises.
“We believe that, thanks to our model’s resilience to the pandemic, we are on the brink of explosive growth,” said Founder and CEO Isaac Vaisberg. “We are so grateful to The Franchise Founders for their support and guidance in our early stages of franchising. They have been so critical to our success and we are very excited to keep them on our team as a minority partner.”
The franchise plans to dramatically extend its footprint in the next 12 months to double down on growth. In the next three to five years, Sasquatch Strength has a goal to sell 100 units in markets across North America, specifically looking to partner with Area Representatives.
“The Franchise Founders Group is very excited to see one of our portfolio companies really spread its wings,” said Stewart Newman, CEO of Franchise Founders. “Sasquatch Strength was one of the first concepts that our group signed and we are proud to be a part of their development and growth. Isaac and his team have been a pleasure to work with from the beginning. Together, we have built a dynamic franchise business that we believe is positioned for a terrific 2021 and beyond.”
Even as gyms across the country were shut down, Sasquatch Strength’s unique model allowed the brand to quickly pivot during times of crisis. During the first lockdown, the brand launched the “Sasquatch @Home” initiative, which offers free resources for anyone (including non-members) to stay in shape while gyms are closed. This platform helped the chain retain over 95% of its members. The digital program has now been revamped to offer over 50 classes per week, where participants can join in live to interact with their coach, or watch an archived class any time of the day. Sasquatch is also loaning out equipment so that members can get their full workout in without any limitations. The franchise has also committed to keeping all staff members employed and is taking strides to create new content and keep members engaged.
When gyms were allowed to reopen at a limited capacity throughout the year, Sasquatch really had been able to shine because of its small-group curriculum. With classes that accommodate eight members at a time, members were designated their own space, 6 feet apart from each other, with sanitized equipment individually laid out for their use only. After every class, there is a 10-minute transition period where members are dismissed one at a time followed by a 30-minute disinfecting procedure to prepare the space for the next class.
Sasquatch’s “purpose-based” programming focuses on educating and empowering members for life. As a truly functional program, the difficulty level of the daily workouts is designed to be increased or decreased, depending upon the individual. This makes them doable by anyone and creates a community of support and accountability where everyone feels welcome and safe. Daily workouts can include: core conditioning, rowing, sprinting, gymnastics, lifting, etc. And all the workouts are designed to improve overall flexibility, strength, speed, endurance, and agility.
SOURCE Sasquatch Strength
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