Colts Neck, N.J. – Retrofitness, a 1980s-themed fitness chain, had a record day in growth by opening three franchise locations in one day. The concept has expanded in the following markets: Dix Hills, N.Y., Monroe, N.Y. and Fair Lawn, N.J.
“We’re definitely making a splash and yesterday is proof of it,” said Eric Casaburi, the founder and CEO of Retrofitness. “Our company is a first-class, high-service fitness concept with a low-monthly cost and now residents in all of these areas can benefit greatly from our services.”
When it comes to posting numbers, Retrofitness is proving its worth as a heavy lifter in the fitness industry during a down economy. The top 33 percent of Retrofitness clubs experienced average gross sales per unit of $1.4 million from March 2008 through February 2009. Projected s
ystem-wide revenue in 2009 is expected to be $40 million, an 82 percent increase over 2008. Retrofitness has more than 130,000 members with membership increasing 56 percent from 2008.
Each Retrofitness facility has an unparalleled ’80s atmosphere with retro color schemes, classic ’80s music and “RetroTheatres” that show film classics like Ferris Bueller’s Day Off on screens up to 20 feet wide while customers put in their cardio workouts. Customers get it all for an affordable $19.99-monthly-membership rate that is guaranteed to never increase. Massage therapy, chiropractic therapy, physical therapy and childcare services are also available.
“We are the Target of the fitness industry in terms of value,” Casaburi says of his gyms, each outfitted with more than $400,000 worth of equipment including 60 to 100 pieces of cardiovascular equipment, three different types of circuit training and free weights. “We have all the good stuff people want. There are other low-cost providers, but they are very vanilla. With our atmosphere and equipment, consumers know they are getting high value at a low cost.”
Retrofitness first launched its franchising program in 2006. Bolstered by a 2008 partnership with Chicago-based private-equity firm, Lake Capital, Retrofitness already has 54 locations open in nine states with 80 more clubs in various stages of development. The company plans to open 300 gyms within in the next three years, extending south and west from its East Coast roots.
