Gold’s Gym Finalizes Master Agreement for Australia and New Zealand
Posted: August 15, 2019 in Chains
DALLAS, TX – Gold’s Gym, a trusted fitness authority, recently entered into a new master franchise agreement for brand development in Australia and New Zealand with Australian investment group Colour Capital. According to the deal, Colour Capital’s development commitment entails a minimum of 30 new locations in Australia and a minimum of 10 new locations in New Zealand.
In addition to the development of new units, through this deal Colour Capital will acquire the master rights to Gold’s Gym’s six directly franchised gyms currently open and operating in Australia: Fyshwick, Mandurah, Miranda, North Sydney, Port Kennedy and Rockingham. New Zealand is an entirely new territory for the Gold’s Gym brand.
“Through this partnership with Colour Capital, we now have the opportunity to not only grow Gold’s Gym’s Australian presence exponentially, but to expand into the exciting New Zealand market as well,” said Adam Zeitsiff, President and CEO of Gold’s Gym. “We look forward to working closely with Matt Hope and his team to deliver to these wonderful countries the best of what our global brand has to offer.”
Founded in 2005 and based in the Sunshine Coast, Colour Capital specializes in franchise growth and management. While Colour Capital’s franchising portfolio is extensive across other verticals, this deal with Gold’s Gym marks the investor’s inaugural entry to the fitness industry.
“As we researched options for expanding our portfolio by stepping into the health and wellness space, we immediately recognized an opportunity in the fitness markets of Australia and New Zealand that only the legendary Gold’s Gym brand can fulfill,” said Matt Hope, CEO of Colour Capital. “In the months since we began working with Gold’s Gym, we’ve already seen what an invaluable resource this experienced team’s support will be to us, and we are excited to continue our efforts with them as we work to grow the brand’s presence in these two countries.”
As Colour Capital begins putting in place the infrastructure necessary for their expansion efforts, Gold’s Gym will work closely with the partner to make their transition to master franchise ownership of the previously directly franchised Gold’s Gym locations in Australia as seamless as possible.