Lift Brands, the parent company of six fitness and wellness brands including Snap Fitness, has partnered with YogaFit to begin franchising a 24/7 yoga concept under the name YogaFit Studios.
Peter Taunton, the founder of Lift Brands, expects the franchise to succeed based off the popularity of yoga, an age-old method practiced by an estimated 20 million Americans. “I’ve been a student of the health and fitness space for 32 years,” said Taunton. “I’ve watched concepts come and go. I feel that yoga is here to stay.”
Beth Shaw founded YogaFit in 1997. Since then, around 200,000 Americans have become licensed instructors under the concept. Lift Brands acquired YogaFit in 2013.
Lift Brand’s goal is to open 1,000 domestic YogaFit Studios, at a cost as low as $80,000 per location, over the next five years. The first location will open in Excelsior, Minn. — five miles down the road from Lift Brand’s headquarters — in May 2014.
At $49 to $79 a month for a membership, Taunton believes YogaFit Studios will resonate with consumers who site cost as an objection of why they don’t practice yoga inside a studio setting. “The price point makes sense for the consumer,” said Taunton. “I believe many people will appreciate the value we bring.”
In addition to live instruction, YogaFit Studios will offer virtual classes during non-peak hours. By offering classes 24/7 at an affordable price, Taunton believes consumers will enjoy the services and experience that YogaFit Studios has to offer. “We feel really good about the product,” said Taunton.
Lift Brands is currently taking reservations for territories through yogafitfranchise.com.
By Rachel Zabonick
