At a time when consolidation, private equity and shifting member expectations are reshaping the health club industry, Physiq Fitness is pursuing growth with a notably disciplined approach.
Led by Landon Burningham, Physiq Fitness has expanded to seven locations across Oregon and Arizona, with an eighth currently in development. But Burningham is clear that growth alone isn’t the goal.
“Our goal is be 10 strong by end of 2027,” said Burningham. “And then really the biggest thing is we want to make sure we’re continually reinvesting in our current locations.”
Acquisitions Rooted in Strategy — Not Opportunity Alone
Physiq’s recent acquisitions reflect a consistent philosophy. In 2024, the company acquired a former Crunch Fitness location in Gilbert, Arizona, marking its first entry into the state. Later that year, Physiq acquired Pursue Fitness in Springfield, Oregon — a locally owned club that had struggled as newer competitors entered the market.
Burningham stresses that acquisitions must serve a broader purpose.
“You don’t just buy a club because it’s a good deal,” said Burningham. “That’s a silly reason to do it.”
Instead, Physiq evaluates each opportunity through multiple lenses: profitability, total reinvestment required, time to ROI, geographic fit and brand alignment. Burningham also weighs whether existing locations can support a new club during its turnaround period.
“Can your cash flow at your other locations sustain this?” asked Burningham. “Or can you get the financing or a partner that can help sustain this location in its cash flow deficit until we can become profitable?”
Reinvestment as a Core Operating Principle
While growth continues, Burningham believes reinvestment is non-negotiable. His reasoning mirrors the mindset of the members Physiq serves.
“Our members are going there to invest in themselves and to make themselves improve or become a better version of themselves,” explained Burningham. “And so our goal at Physiq is to do the exact same thing.”
That philosophy has led Physiq to invest heavily in new strength equipment, improved aesthetics and expanded amenities across its portfolio. All locations have recently transitioned to 24-hour access, and recovery-focused upgrades are underway systemwide.
“We believe in constant reinvestment in our facilities,” said Burningham. “We can’t be the same gym tomorrow that we are today, because our members aren’t the same as they are tomorrow.”
Recovery Becomes Essential, Not Optional
Physiq was among the early adopters of recovery-focused amenities, initially offering massage chairs, compression therapy and percussion tools. Burningham sees recovery now entering a more comprehensive phase. “For us over the next two years is really the reinvestment both in the strength training equipment that everyone wants, but also the wellness and recovery options that are becoming so popular,” he said.
Future additions include infrared and traditional saunas, cold therapy, red light therapy and, at one upcoming location, a fully integrated medical wellness center offering IV therapy, peptide therapy and hormone replacement — all housed within the gym.
“The aim is really to provide the full-service health club, without actually needing to go have the expensive price of a country club,” said Burningham.
Why Physiq Went 24/7
One of Physiq’s most notable strategic shifts has been its move to 24-hour operations — a decision Burningham attributes to generational change rather than operational convenience.
“We’re seeing the younger generation is the majority of the signups across the country,” he said. “Under 35 have a different work life than what we were used to.”
Flexible schedules, remote work and gig economy jobs have changed when members want to work out. For many, the gym has also become a social destination.
“We see people going to the gym for date night,” said Burningham. “We see that’s where friends are going on a Friday night at 9 p.m. instead of going to the bar or the club.”
Equipment Strategy Has Evolved
Burningham also points to a shift in how operators should think about equipment. Rather than relying on a single vendor, Physiq curates best-in-class options across multiple manufacturers.
“It’s no longer a market where you go into one big vendor partner and say, ‘Hey, I want to just buy all 36 pieces of strength equipment that you offer,’” he explained.
Missing even small trends, he notes, can be costly.
“The club that I just got had no hip thrusts,” Burningham said. “We know that posterior chain work and all the glute stuff that’s coming out, people want that like crazy.”
A Call for Operator Collaboration
As private equity-backed brands continue to expand, Burningham believes collaboration among independent operators is more important than ever.
“We are living in an ever more competitive market,” he said. “And there’s a lot of private equity coming into it.”
Without endless capital, smaller operators must rely on shared knowledge and peer support.
“It’s important to have other people to stick together — to lean on other operators to help see what the best practices are,” said Burningham.
In an era where growth is often pursued at all costs, Physiq Fitness is demonstrating that intention, reinvestment and adaptability may be the most sustainable competitive advantages of all.
