6 Things You Need to Know About the New Gold’s Gym Express Franchise Concept
1. Gold’s Gym held grand openings last month for its first two Express Clubs in Brownsville, TX and Victoria, TX. Two more locations (one in Normal, IL and the other in Draper, UT) are slated to open soon. More than 20 corporate-owned and franchised Gold’s Gym Express locations are already in the planning stages. Gold’s expects to have more than 100 new Express clubs by the end of this year.
2. Monthly dues start at $9.99, which gives members access to tons of cardio equipment, a circuit area, full locker rooms, and free group fitness classes. This low month-to-month rate enables Gold’s to compete head on with other n0-frills gyms like Planet Fitness.
3. Express members have the option to upgrade to a Gold membership, at $19.99 a month, which gives them unlimited free guest privileges, unlimited massage chair use, unlimited tanning, 50% off cooler drinks every day, and limited access to Gold’s Gym.
4. A unique feature of Gold’s Gym Express is their exclusive cardio cinemas, so members can burn calories and watch movies on the big screen with surround sound at the same time.
5. Gold’s Gym Express clubs will be between 10,000 and 25,000 square feet, less than a typical Gold’s club. The lower cost structure will allow expansion into rural and urban areas that might not otherwise support a full-amenity Gold’s Gym, and provide new and existing franchisees with another option to grow.
6. The company also announced the formation of a new financing arm called Gold’s Gym Capital, created to help existing and future franchisees secure financing for both Gold’s Gym Express and full-amenity Gold’s clubs. Gaining access to capital has been one of the greatest barriers to growth in the gym industry. Now, Gold’s Gym has a concrete way to help new and existing franchisees overcome this obstacle.