Fitness Ventures seizes control of three Crunch gyms in Portland, Targets $75 million growth throughout the city's fitness market.
Fitness Ventures LLC, one of the fastest-growing franchises within the Crunch Fitness system, has announced its acquisition of three existing Crunch Fitness locations in Portland, Oregon. The company plans a $75 million investment to open 15 new Crunch locations in the region over the next several years[1][2][3][4].
The three existing Crunch locations in Portland were built under the smaller 1.0 model. Fitness Ventures is evaluating whether to expand and remodel them or relocate them into larger spaces, with the goal of upgrading all three to the Crunch 3.0 standard[1]. This expansion forms part of Fitness Ventures' broader strategy of rapid growth in the Crunch Fitness franchise nationwide[1].
The new Crunch 3.0 gyms, each expected to be between 40,000 and 50,000 square feet, represent an upgrade from the smaller original 1.0 model of the existing locations[1]. Crunch is renowned for creating one-of-a-kind group fitness classes and unique programming for its diverse members[5].
Crunch Fitness serves a fitness community for all kinds of people with all types of goals[5]. The new Crunch locations will be larger-scale Crunch 3.0 gyms, offering higher-quality and more extensive fitness center amenities compared to older models[1].
Fitness Ventures operates over 70 locations across 28 states, with several more in development[6]. The original content of this press release can be found at this link.
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[1] Fitness Ventures Acquires Three Existing Crunch Locations in Portland, Plans $75 Million Expansion Across the Market. (2023, February 14). PR Newswire. https://www.prnewswire.com/news-releases/fitness-ventures-acquires-three-existing-crunch-locations-in-portland-plans-75-million-expansion-across-the-market-302519047.html
[2] Fitness Ventures Expands Crunch Fitness Footprint in Portland, Oregon. (2023, February 14). Business Wire. https://www.businesswire.com/news/home/20230214005139/en/Fitness-Ventures-Expands-Crunch-Fitness-Footprint-in-Portland-Oregon
[3] Fitness Ventures to Bring 15 New Crunch Fitness Locations to Portland. (2023, February 14). Yahoo Finance. https://finance.yahoo.com/news/fitness-ventures-bring-15-new-crunch-fitness-locations-portland-183200361.html
[4] Fitness Ventures to Invest $75 Million in Portland Crunch Fitness Expansion. (2023, February 14). The Oregonian. https://www.oregonlive.com/business/2023/02/fitness-ventures-to-invest-75-million-in-portland-crunch-fitness-expansion.html
[5] Crunch Fitness: A Fitness Community for All. (n.d.). Crunch Fitness. https://www.crunch.com/about-us/
[6] Fitness Ventures: Growing Stronger Every Day. (n.d.). Fitness Ventures. https://fitnessventuresllc.com/about/
Cloud news indicates that Fitness Ventures, aiming to upgrade its finance and business, is planning to renovate or relocate three existing Crunch Fitness locations in Portland, Oregon, from the older 1.0 model to the newer Crunch 3.0 standard. This news follows Fitness Ventures' announcement of a $75 million investment to open 15 new Crunch locations in the region over the next few years.
