Franchise news

13.06.2008

Snap Fitness poised for continued growth

In a press release, published on the Internet portal, marketwire.com, Snap Fitness, Inc., a franchisor of compact, 24/7 express fitness clubs, has announced it has received a minority equity investment from Summit Partners, a private equity and venture capital firm. Terms of the transaction have not been disclosed.

Founded in 2003 by CEO Peter Taunton, Snap Fitness offers fitness clubs that emphasize fast, convenient and affordable workouts in neighborhoods across North America. A typical 2,500-square-foot facility features the same quality equipment as traditional health clubs, but in a smaller, friendlier setting and at a fraction of the membership price.

Snap Fitness currently has more than 1,500 locations across the United States and Canada and is experiencing rapid growth with around 30-40 new stores being added each month. According to the information provided, overseas expansion is projected for later this year.

Peter Taunton, Snap Fitness' Founder and CEO, commented, “Our relationship with Summit Partners will allow us to fuel our international expansion operations, fortify our brand, and lay the groundwork for long-term growth.” (kb)


Snap Fitness (USA)

Fitness Studios
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