Gold’s Gym Appoints Sole CEO, Eyes Significant Expansion in US & Abroad

Gold’s Gym is ditching its co-CEO model, appointing Brad Reynolds as its lone chief executive as it promises a “fundamental transformation” in franchise operations

Gold’s Gym has appointed Brad Reynolds as sole CEO, consolidating leadership after nine months under a co-CEO model. 

Danny Waggoner, who has been with the brand for more than 26 years and previously served as co-CEO alongside Reynolds, assumes the chief operating officer role focused on new gym development and operations.

Reynolds, who joined Gold’s Gym last September, said the brand is pursuing aggressive expansion. He expects 20 to 25 openings this year, a mix of domestic and international units, he told Franchise Times — a goal that follows a significant portfolio shift last fall, when low-price operator EoS Fitness acquired 23 Gold’s Gym locations in Southern California.

In a press release, the operator said that with Reynolds at the helm, it will undergo “a fundamental transformation in how it grows and serves its franchise network.”

Gold’s Gym which, like other fitness operators, filed for Chapter 11 bankruptcy in 2020 due to pandemic-related pressures, closed around 30 corporate gyms that year. RSG Group, which also owns brands including McFit, John Reed and Heimat, acquired Gold’s Gym for $100 million that same year.

“Gold’s Gym is, in my opinion, by far the most iconic name and brand in multi-unit fitness,” Reynolds told Franchise Times, which noted Gold’s Gym now has roughly 550 units globally, with 180 in the U.S. “When that call came, it was an absolute no-brainer for me to be a part of this story.”

Remodeling efforts will be a part of Gold’s Gym’s comeback story. Recent openings, including a flagship in Austin, feature HydroMassage, saunas and CryoLounge recovery zones alongside traditional strength equipment.

Gold’s Gym also opened North America’s first Hyrox Performance Center in Little Elm, Texas, jumping on board with the booming competitive fitness trend.

Gold’s Gym plans to open a flagship Dallas-area location later this year as a testing ground for equipment and member experiences.

“Gold’s Gym has always been built on the belief that serious results are within reach for everyone,” Reynolds said in a release. “This brand has earned its place in fitness history. Now, we earn what comes next. We are going to build a best-in-class franchise organization, raise the bar on member experience, reflecting the full weight of what Gold’s Gym means to people, and make Gold’s Gym the standard every other fitness brand measures itself against. The standard we are setting is our own.”