500 Clubs in 5 Years: Retro Fitness Introduces Project LIFT to Raise Fitness Awareness
The fitness franchise says Project LIFT investors will be granted a waived franchise fee & 50% off year one royalties
Health club franchise Retro Fitness has announced Project LIFT, a new initiative that will open 500 health clubs in 50 Black and Brown communities over the next five years.
Project LIFT seeks to fill a void in underserved communities by providing affordable exercise, health, and fitness.
Retro Fitness CEO Andrew Alfano says that Project LIFT will allow the fitness franchise to donate money back to organizations within communities across America. Alfano narrated a video outlining Project LIFT and its mission.
According to Retro Fitness, a study conducted by the U.S. Department of Health and Human Services found that African Americans and Non-Black Hispanic citizens have a higher obesity rate than other groups, which can contribute to high blood pressure, diabetes, and other conditions that have been exacerbated by the pandemic.
Thanks to Retro Fitness’s partnership with BlackRock Impact Opportunities Fund and Eastwood Capital Partners Managing Partner James Collins, there are now 70 new health club locations that are underway.
“We are excited to partner with James Collins on our Project LIFT initiative,” says Alfano. “This investment is the largest development deal in the history of the company, more importantly we are proud that it is about making a significant difference in Black and Brown communities.”
In an effort to bring others on board, Project LIFT investors will be granted a waived franchise fee and 50% off year one royalties.
“Retro Fitness’ intentionality with Project LIFT greatly appealed to me as there’s an opportunity to make a real impact by providing a true sense of community, expansive job opportunities, and access to a high-quality health club at an attainable price point,” says Collins.
“This partnership is a huge accomplishment for me, both personally and professionally, as we raise awareness on the importance of physical fitness, while giving back to these Black and Brown communities financially, and I encourage others to join us as we eagerly, and aggressively, expand.”
