FLORIDA, United States — Fast growing fitness franchise Orangetheory Fitness is strengthening its foothold on the market with 61 new studios across the globe, 54 new lease agreements and 34 franchise agreements, all in the first quarter of 2018.
Fueled by the company’s ongoing success, the brand is on course to achieve its goal of opening 1,100 studios by the end of 2018.
“Orangetheory Fitness has experienced incredible and unparalleled growth in less than a decade, and the compounding success we’ve already achieved this year is indicative that the brand’s global domination is just beginning,” commented Mike Mettler, Senior Vice President of franchise development for Orangetheory Fitness.
“This relentless momentum has allowed us to accelerate our franchise development efforts in several prime expansion markets like California and Texas, and we’re thrilled to continue tapping into the wealth of potential in these regions,” he added.
First launched in 2010, Orangetheory Fitness has transformed into one of the world’s top fitness franchises, with more than 935 studios in 49 states and 17 countries. Based on excess post-exercise oxygen consumption (EPOC), the science-backed, technology tracked workout uses heart-rate monitoring technology to measure members’ performance and improvement over time — a model that’s become increasingly popular within the boutique fitness market.
Along with its impressive domestic growth, with an annualized growth rate (CAGR) of 76% over the past five years, the fitness brand has also been busy growing its presence internationally. Throughout the first quarter of the year, it has launched nine new studios in Canada, two in Australia and one in Guatemala. The company has also signed five new international franchise agreements and 11 new studio leases, which will further drive its global presence throughout the year.
Currently on track to achieve $1 billion in system-wide revenue and open more than 270 additional new studios by the end of 2018, next year the brand has it sight set on growth in Japan, the UK and Australia, where it plans to open multiple locations.