CONTACT: Patrick Strait, Snap Fitness, 952-426-7173
Snap Fitness Ranked #1 on Franchise Market Magazine's Top 100 New Franchises
Top Billing Recognizes "Express" Health Club's Rapid, 750 Percent Growth
CHANHASSEN, MINN. October 15, 2007 - Snap Fitness, the rapidly expanding franchisor of compact, 24/7 fitness centers, today announced that national trade magazine Franchise Market has ranked the company first on its annual list of "Top 100 New Franchises" in its fall 2007 issue. The ranking, based on number of franchise units and growth rate, rewards Snap Fitness' 750 percent expansion in the period between September 2006 and December 2007. The company started this year with 423 clubs and expects to end with more than 1,200 sold, virtually tripling in size. An additional 600 units are projected for next year, including expansion into Canada.
The Top 100 list hits newsstands Wednesday, just as franchise companies representing a variety of concepts and industries converge on Los Angeles for the 2007 West Coast Franchise Expo, October 19-21. A total of eight fitness-related franchisors are included in the Top 100. Snap Fitness is the first to achieve the top ranking; previous years' rankings listed companies alphabetically.
"Fitness is emerging as a new, rapid-growth category of franchising, said Matt Russell, publisher of Franchise Market. "Snap Fitness and other health club franchisors are a fascinating phenomenon to watch, as their growth drives change within the entire fitness industry."
Snap Fitness is a leader among so-called "express" fitness centers that offer members a fast, convenient, affordable workout alternative to traditional big-box health clubs. A typical 2,400-square-foot facility features the same quality equipment as larger, fancier clubs, but in a smaller, non-intimidating setting and at a fraction of the price. The company also is a pace-setter in promoting member-friendly policies: it does not require contracts and allows memberships to be frozen for up to three months a year with no penalty.
The customer-centric approach is a key factor fueling franchise sales. Other factors include an affordable investment price, low-overhead business model and a turnkey operational support system that enables absentee ownership for those who want it. Franchisees can oversee their stores' activities from afar, whether from the comfort of home or thousands of miles away, thanks to a Web-enabled infrastructure and state-of-the-art technology. In fact, approximately 70 percent of Snap Fitness proprietors manage their clubs remotely.
"Franchise Market is a leading publication within the franchising world, and we're honored to be ranked first among this group of innovative, fast-growth concepts," said Peter Taunton, founder and CEO of Snap Fitness. "Our top ranking is further proof that our business model works. We're now taking steps to balance growth with long-term sustainability and maximize our franchisees' investments."
About Franchise Market Magazine
With a circulation of more than 200,000 per issue and readership of 700,000, Franchise Market has a unique, targeted distribution through SCORE offices, Small Business Development Centers and SBA offices located throughout the country that reach out to aspiring entrepreneurs, providing expert counsel and business growth advice. Additionally, Franchise Market is distributed through major franchise trade shows including The West Coast Franchise Expo, Franchise Expo South and the National Franchise & Business Opportunity trade shows.
About Snap Fitness
Fresh off its new #1 ranking on Franchise Market's Top 100 New Franchises, Snap Fitness is experiencing phenomenal growth with more than 1,100 locations sold nationwide, newly-opened locations in Canada and some 30-40 new stores added monthly. Founded in 2003 by CEO Peter Taunton, the Chanhassen, Minn.-based franchisor offers compact, state-of-the-art, 24/7 express fitness clubs that emphasize fast, convenient and affordable workouts in neighborhoods across America. For more information, visit snapfitness.com.