22 Jan 2020
Gold's Gym reports 'strongest year of growth in company history'
BY Tom Walker
Gold's Gym completed 22 US franchise agreements and a total of 35 new openings worldwide during 2019 – the most in a single year in the company's history.
The franchised fitness giant's growth during the year focused on emerging markets, with nine new sites opening in Japan, eight in India, five in Saudi Arabia and four in Egypt.
It also secured new international master license agreements for Iraq (five clubs), Australia (30 clubs) and New Zealand (10 clubs).
On its domestic US market, its biggest new franchise deals were for North Carolina (eight clubs), Tennessee (five clubs) and Southern California (four clubs).
Also throughout 2019, the company worked to consolidate and optimise brand ownership through franchisee acquisition of company-owned clubs.
"This past year of success serves as proof that the Gold's Gym franchise opportunity is more attractive than ever as an investment in the fitness industry," said Gold's Gym president and CEO Adam Zeitsiff.
"Our continued franchise development achievements from 2019 have set the stage for what we anticipate will be another impressive year of growth on a global scale.
Craig Sherwood, Gold's Gym chief development officer, added: "As we head into 2020, I feel we are equipped with the perfect recipe for success: the right corporate leaders, the right franchisees and the right business model.
"With some major expansion opportunities already in the works, my team and I are proud to play a role in continuing to grow this brand 55 years beyond its inception."
Gold's Gym now has more than 700 locations serving 3 million people across six continents.
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