2019 Gold’s Gym Franchise Development Outlook
January 10, 2019
Ken Phipps, Director of Global Franchise Development, and Craig Sherwood, Senior Vice President, Franchise and Licensing, are back to give us the rundown of Gold’s Gym’s franchise development progress last year and give us a sneak peek at the year ahead.
Gold’s Gym: How did the Gold’s Gym Franchise Development team wrap up 2018?
Ken Phipps & Craig Sherwood: We’re proud to say 2018 was a record-setting year for Gold’s Gym franchise development. We opened 59 new franchise gyms worldwide – 12 gyms in the U.S. and 37 gyms internationally, including 15 in India alone.
Our success in 2018 also positioned us to continue the strong growth trend over the next year. We executed 20 new franchise agreements in the U.S. We signed a new master franchise agreement in Turkey for 25 locations. We renewed agreements with Saudi Arabia, who’ll grow their gym count from 12 to 72, and renewed UAE, who’ll add 10 new locations to their current count of 14.
GG: What else is growing at Gold’s Gym?
KP & CS: GOLD’S AMP™, our digital personal training app, launched in late 2017 and has grown to over 60,000 users in the U.S. and Canada. The app was recently upgraded to include a new workout tab called Strength that features video-guided workouts. There are some exciting things planned for GOLD’S AMP™ over the next year, as well…
Our group fitness program, GOLD’S STUDIO® continues to expand, with nearly 50 company gyms and 15 franchise gyms offering GOLD’S FIT®, GOLD’S BURN™, and GOLD’S CYCLE™. Egypt launched the first standalone GOLD’S STUDIO® and other countries will add the program in 2019.
GG: How would you describe the state of the fitness industry going into 2019?
KP & CS: The fitness industry continues to show strong growth around the world as more people are seeking to live healthier lives. In fact, many countries have now begun health and fitness initiatives to encourage their citizens to become physically active, including Saudi Vision 2030, UAE Vision 2021, and #FitIndia.
GG: What kinds of changes do you expect to see in the industry through 2019?
KP & CS: Technology will continue to revolutionize the fitness industry in the coming year and Gold’s Gym is at the forefront of that with GOLD’S AMP™. We’re working closely with our equipment partners in tailoring equipment to the needs of our members. We’re also working on exciting partnerships to help elevate our members’ fitness experience both in gym and at home.
Additionally, join-online membership will continue to be in demand around the world and we are tailoring our app to meet that need. In response to a widespread demand for more flexible options, we’ll be rolling out a variety of new membership packages.
GG: What does 2019’s growth strategy look like?
KP & CS: We’ve been seeing increased interest in the Gold’s Gym brand, so we’re bringing on more resources to accommodate that interest. We are adding another Director of Global Franchise Development, along with support staff to ensure that franchisees always have the best-in-class support they’ve come to expect from Gold’s Gym.
Growing the brand globally will continue to be a focus in 2019 as we deliver on our mission to help people achieve their potential through fitness. We will continue to look for candidates who have strong financial capabilities and business acumen, along with a shared passion for that mission.
GG: What are you most looking forward to from the world of Gold’s Gym in 2019?
KP & CS: We’re really excited about the explosion of GOLD’S STUDIO® around the world – that’ll be something to look out for. We’re also excited about some very special new additions to GOLD’S AMP™. There are a few new coaches joining our team in 2019 – names that everyone will know!