With nearly 100 locations throughout New Jersey and the New York City Metro area alone, and 35-plus additional locations throughout the United States, Retro Fitness plans to continue expanding its footprint nationwide with further developments in the California, Texas and Florida markets. Building on this momentum, the company’s goal is to develop each of these populated markets with a Retro Fitness club within every 3-5 miles. As part of its growth strategy, the national low-cost, high-value fitness franchise is exhibiting at the International Council of Shopping Centers (ICSC) New York convention (Level 1, Booth No. 1255) December 7-8, 2015.
“Retro Fitness is born and bred out of New Jersey – we know the Northeast and are being tactical in our development approach,” said Eric Casaburi, founder and CEO of Retro Fitness, which is based out of Colt’s Neck, NJ and has more than 135 locations, operating in 16 states. “We want to make sure we’re expanding in the right markets with the leading real estate landlords and brokers, and exhibiting at ICSC New York is a great opportunity for us to get one-on-one face time with these key players in the development industry.”
Recently named the No. 1 Fitness Franchise in America by Forbes and top franchise over $500,000 by Franchise Times magazines – Retro Fitness is penetrating the market at a fast pace and expects to open more than 25 locations by year end, with 4-5 additional gyms in pre-sale. The burgeoning franchise is on track to grow beyond 700 locations by 2020. Retro Fitness Vice President of Real Estate & Development Ray Lauletti will be presenting these expansion plans to 2,000-plus attendees at the conference’s Retail Runway on Monday, Dec. 7 from 3 – 4:15 p.m. EST in the Special Events hall.
The franchise’s commanding national demand is evident through the success of its franchise system. The top 10 percent of the company’s franchise units are outperforming the national industry average with $2,310,030 average gross sales per unit, $798,350 average EBITDA, 3,500-plus average membership base and $160 average revenue per square foot.** Franchise owners enjoy the flexibility to open in 15,000 to 18,000 square-foot spaces that are designed to scale back on square footage without cutting back on services and staff. This results in lower costs for both owners and members, while still offering high-quality equipment and amenities.
“Our business model is built on delivering members the quality and value they deserve,” said Casaburi, noting that the brand is popular for its $19.99/month membership rate. “No matter which location our members walk into, they can always expect a fun, friendly, clean and non-intimidating work-out environment. That’s the key to our brand’s success.”
** The top 10 percent of Retro Fitness clubs average, gross sales, average EBITDA and average revenue per square foot numbers as published in Item 19 of the Retro Fitness 2015 Franchise Disclosure Document. Read Item 19 in its entirety for important defined terms, assumptions and qualifiers relating to these figures.
