Gold’s Gym Announces Strongest Quarter of Worldwide Growth in Company History
Posted: October 23, 2018 in Chains
DALLAS, TX – Gold’s Gym, a globally trusted fitness authority, has announced a record-setting third quarter, the largest for franchise development in company history. The global franchise celebrated nine international openings, renewed master franchise agreements for Saudi Arabia and United Arab Emirates and signed a new master franchise agreement to enter Turkey. In addition, Gold’s Gym celebrated one domestic grand opening and signed franchise agreements for multiple locations across three states in the U.S.
“Gold’s Gym continues to distinguish itself as the fitness industry leader, which is exemplified by our biggest quarter of worldwide growth in company history,” said Ken Phipps, director of global franchising development for Gold’s Gym. “Our franchise network continues to expand and thrive as we extend our proven business model across the globe with the support of additional sophisticated investors. We anticipate further development in the fourth quarter and look forward to our International Summit in Dubai this November.”
Highlights of Gold’s Gym’s Q3 Performance in 2018 include:
New Domestic Franchise Agreements:
- Three-unit development agreement in West Texas (Midland/Odessa);
- Conversion of original Gold’s Gym Loveland, Colorado, location from a competitor gym;
- Development of a location across the street from the world-famous Daytona Speedway in Daytona Beach, Florida.
New Domestic Grand Openings:
- Chantilly, Virginia
New International Master Franchise Agreements:
- Master franchise agreement to enter Turkey with a 25-unit development plan;
- Renewal of Saudi Arabia’s master franchise agreement, with commitments to add an additional 50 locations in the next 20 years;
- Renewal of United Arab Emirates’ master franchise agreement, with commitments to add an additional 10 units in 10 years, including a new location in Bahrain.
New International Grand Openings:
- Four gym openings in India;
- Two gym openings in Japan;
- Two gym openings in Saudi Arabia;
- One gym opening in Trinidad and Tobago.
In addition to this extensive expansion list accumulated over the course of Q3, Gold’s Gym also held a successful annual global convention in Las Vegas in July.
Gold’s Gym is continuing to revolutionize the fitness experience with world-class personal training, diverse group exercise classes, GOLD’S STUDIO® boutique fitness offerings, and the GOLD’S AMP™ digital personal training app.