Retro Fitness Announces Project LIFT, the Largest Development Deal in Company History

Leading Fitness Franchise Brings Affordable Fitness and Health to Black and Brown Communities

WEST PALM BEACH, Fla., May 20, 2022 /PRNewswire/ — Retro Fitness, one of many quickest rising well being membership franchises, in the present day introduced the launch of Project LIFT, a brand new firm initiative to open 500 well being golf equipment in 50 Black and Brown communities throughout the nation over the following 5 years. In partnership with the BlackRock Impact Opportunities Fund, and James Collins, Managing Partner of Eastwood Capital Partners, 70 Retro Fitness new well being membership areas are actually underway. This program marks the biggest growth deal within the historical past of Retro Fitness.  

According to a research accomplished by U.S. Department of Health & Human Services, African American and Non-Black Hispanic residents have the next weight problems price than different ethnic teams, no matter socioeconomic standing, which ends up in unwanted effects corresponding to hypertension, diabetes, and plenty of others which have solely been amplified throughout the pandemic. Retro Fitness created this unequalled program to assist spearhead change and produce reasonably priced train, well being and health options to Black and Brown communities.

“We are excited to accomplice with James Collins on our Project LIFT initiative,” stated Andrew Alfano, Chief Executive Officer at Retro Fitness. “This funding is the biggest growth deal within the historical past of the corporate, extra importantly we’re proud that it’s about making a big distinction in Black and Brown communities.”

Retro Fitness is seeking to incentivize others to take this journey with them. Project LIFT traders will profit by receiving a waived franchise payment and 50% off 12 months one royalties. Additionally, Retro Fitness will probably be donating a proportion of their royalties again to a company inside the group for the lifetime of the enterprise. This initiative additional helps Retro Fitness’ dedication to creating an enduring, profound influence on the well being membership trade and the communities wherein they serve.

“Retro Fitness’ intentionality with Project LIFT significantly appealed to me as there’s a possibility to make an actual influence by offering a real sense of group, expansive job alternatives, and entry to a high-quality well being membership at an attainable value level,” stated James Collins, Managing Partner at Eastwood Capital Partners. “This partnership is a large accomplishment for me, each personally and professionally, as we elevate consciousness on the significance of bodily health, whereas giving again to those Black and Brown communities financially, and I encourage others to affix us as we eagerly, and aggressively, increase.”

As a world class franchise, Retro Fitness is without doubt one of the few franchisors in any trade that provides a real, full suite of providers. In addition to actual property website choice and negotiation, development and supply of a real turnkey field, devoted space managers and a Support Center for coaching and growth, in addition they supply providers that include an in-house media company, name heart, and extra, all to make sure franchisees and traders are supported from the beginning.

For extra info on Project LIFT and how you can grow to be an investor, please go to https://www.retrofitness.com/franchising/project-lift/

About Retro Fitness:
For practically 20 years, Retro Fitness has been offering members with a timeless method to train, well being and health. With 175 well being golf equipment open or in growth, Retro Fitness is without doubt one of the quickest rising High Value-Low Price franchises in the United States. With a brand new government management crew led by former Starbucks government, Andrew Alfano, Retro Fitness offers traders and franchisees with a full suite of providers together with actual property website choice, coaching, in-club help, advertising providers, and operations to ship a turnkey and operational answer.

About James Collins:
James Collins is an skilled personal fairness investor. During his 22 years of personal fairness investing, Collins has been an integral member of deal groups which have invested roughly $0.5 billion of fairness capital in a number of platform investments – shopper merchandise and retail, enterprise providers, communications, and transportation and logistics corporations. Prior to working as a personal fairness investor, Collins labored as a strategic administration advisor and mergers and acquisitions funding banker at Bain & Company, Inc. and Bowles Hollowell Connor & Co., respectively. Collins earned his Bachelor of Business Administration from Howard University and his Master in Business Administration from Harvard Business School. He at the moment sits on company and not-for-profit boards of administrators, together with Points of Light, the world’s largest group devoted to volunteer service, Board of Directors, chairing its Finance, Investment and Audit Committee, and serving as a member of Points of Light’s Executive Committee.

SOURCE Retro Fitness

https://www.prnewswire.com/news-releases/retro-fitness-announces-project-lift-the-largest-development-deal-in-company-history-301551866.html

Recommended For You

About the Author: Adrian

Leave a Reply