Retro Fitness announced plans to execute an aggressive expansion strategy, to significantly increase the franchise’s presence in the New York City area within the next year. To do so, the company has opened a limited number of franchise territories for the market.
Retro Fitness currently has five gyms operating throughout the five boroughs in New York City. According to Retro Fitness, as part of this growth plan, Retro Fitness is looking to sign franchise agreements with qualified investors for both single and multi-unit franchises in every borough, within the next 90 days.
“This rapid plan opens up a limited number of units available to investors in a very exciting market,” said Eric Casaburi, the CEO and founder of Retro Fitness. “The five boroughs are primed for expansion; the existing clubs in the area are experiencing explosive growth with large spikes in membership. Retro Fitness just makes sense in this market. We deliver the best in health and fitness without the heavy price tag for members and investors. Plus, with our manager-driven investment model, franchisees are free to be the investor, focusing on growing the business, rather than an operator inside the club.”
According to Retro Fitness, opportunities for single and multi-units will be based on financial qualification. The approximate cost for developing an average-size, Retro Fitness facility is $1.4 million. In order to qualify for a single unit, candidates must have a minimum net worth of $1.5 to $2 million. For financing of a single unit, candidates will need liquid assets of approximately $350,000.
Potential franchisees interested in opening a Retro Fitness in the New York City Boroughs area can visit www.retrofranchising.com or contact Mark Mele, the vice president of franchise development, at 732.431.0062, for more information.
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Rachel Zabonick-Chonko is the editor-in-chief of Club Solutions Magazine. She can be reached at rachel@peakemedia.com.
