Today’s shopping center owners are looking to offer experiences to their customers — and they are looking for tenants that offer experiences that bring those customers back frequently.
Boutique fitness concepts — with their devoted followers that often work out multiple times per week — are a great addition to a center.
Founded in 2017, boutique fitness brand Xponential Fitness offers a curated selection of high-quality concepts that are attractive to all ages. These brands include Club Pilates, touted by the company as the nation’s largest and fastest growing Pilates franchise; CycleBar, an indoor cycling franchise; StretchLab, an assisted stretching concept offering one-one-one personalized stretching services; Row House, an indoor rowing concept; and AKT, a dynamic dance concept, deeply rooted in community and movement.
Row House, an indoor rowing studio, is one of Xponential Fitness'
boutique fitness concepts.
“The company is sitting at about 1,300 franchise agreements sold, with 500 stores open in the U.S., so we have another 800 locations to open over the next 24 months that we’re actively seeking leases for,” says Anthony Geisler, CEO of Xponential Fitness.
The company is seeking locations predominantly in grocery-anchored centers. “We’re looking for spaces with high traffic and shoppers with disposable income, which you often find in grocery-anchored retail centers,” says Geisler. “The better the anchor and co-tenants, the better we feel about a location.”
A major benefit for centers that open an Xponential Fitness concept is the high foot traffic that these locations attract. “Our members workout a couple of times per week on average and we have approximately 500 members per location,” says Geisler. “We have people constantly coming back to the center to attend workout classes, which is great for our co-tenants. Shoppers can come to the center, get a workout in and do their shopping all in one place.”
Xponential Fitness recently kicked off an international expansion with the announcement of a master franchise agreement with entrepreneur Oliver Chipp, who expects to open at least 30 CycleBar studios in the U.K. over the next five years. The first U.K. CycleBar is set to open in London by June of this year. The company also has a CycleBar location that recently opened in Dubai.
“We’re focused on building a sustainable, legacy business that is going to be here for a long time,” says Geisler. “We’re making sure that we’re doing our due diligence and partnering with great people internationally — just as we’ve done domestically — as we continue to build our brand.”
— Sponsored post written by Katie Sloan, associate editor of Shopping Center Business. For more information about Xponential Fitness and its brands, click here.