Body Fit Training Celebrates Signing of Master Franchise Agreement for Scandinavia

Rhea-AI Summary

Body Fit Training (BFT), an Xponential Fitness brand, announced a Master Franchise Agreement in Scandinavia, aiming to open at least 40 studios over the next 10 years. This move marks BFT's entry into the Scandinavian market, with seasoned fitness operator Tage Flugeim spearheading the rollout. Flugeim plans to open initial studios in Oslo, Stockholm, and Copenhagen within the next 12 months, serving as flagship locations. The agreement builds on BFT's European expansion, with their first studio in Barcelona opening in March 2024. BFT's growth reflects increasing demand in Europe and the U.S., with Xponential Fitness driving strong U.S. growth, adding 30 studios in 2023.

Positive

• Signed Master Franchise Agreement to open at least 40 BFT studios in Scandinavia over the next 10 years.
• Initial studios set to open in major Scandinavian cities within 12 months, potentially boosting brand visibility.
• The agreement builds on BFT's European presence, including the upcoming Barcelona studio opening, marking the brand's 300th global studio.
• Strong U.S. growth driven by parent company Xponential, with 30 new studios in 2023.

Negative

• No immediate financial impact or revenue projections disclosed in the press release.
• Risk of market saturation or competition in the Scandinavian fitness market not addressed.

The Global Group-Strength Training & Conditioning Brand Set to Further Expand European Presence

IRVINE, Calif.--(BUSINESS WIRE)-- Body Fit Training (BFT), an Xponential Fitness brand and the global boutique fitness brand offering 50-minute group strength training classes led by highly accredited coaches, announced today that it has signed a Master Franchise Agreement in Scandinavia with a commitment to open at least 40 studios over the next 10 years. BFT is the first Xponential brand to enter the Scandinavian region.

The agreement has been signed with Tage Flugeim, a seasoned fitness operator who launched his own gym and brought Barry’s Bootcamp to Scandinavia 15 years ago as the first international market outside of North America. Scaling the brand to seven locations, he will now focus on the BFT rollout across Scandinavia.

“We are excited to expand into the thriving Scandinavian market for the first time with BFT’s best-in-class group strength training and conditioning experience,” said Bob Kaufman, President of Xponential International. “Tage has proven experience growing fitness franchises in this market and we look forward to seeing consumers experience the BFT workouts.”

“BFT will be in great hands with Tage Flugeim and his team. He is a seasoned operator and has had great success developing fitness brands in Scandinavia,” said Richard Burnet, Director and CEO of BFT International. “The boutique fitness space is still a relatively niche offering right across the region which creates a huge opportunity for BFT to establish itself there. Scandinavians are passionate and committed to their fitness, so we know they'll embrace our unique model and we are excited to support Tage and his team in bringing the BFT product to as many cities as possible.”

Tage Flugeim will begin with opening a BFT studio in Oslo, Stockholm, and Copenhagen within 12 months. These studios will serve as flagship studios in their respective countries. Once they are successfully established, Tage and his team will focus on building new partnerships and attracting sub-franchisees, with the goal to have 20 studios in the first 5 years and 40 BFT studios across Scandinavia within 10 years.

“BFT checked all the boxes for me due to the quality of the workouts, the unique approach to strength training sessions, the thoughtful programming, the emphasis on people, and the inviting, inclusive atmosphere of the studios,” said Tage Flugeim. “Scandinavians appreciate foreign fitness brands. We look up to the US, UK, and Australia, and introducing BFT’s culture, story, and high-quality workouts to our region will be a perfect fit for Scandinavia.”

The Master Franchise agreement builds upon the brand’s growing presence across Europe, with their first studio opening in Barcelona in March of 2024, marking BFT’s 300th global studio overall. It also signals the growing demand for BFT outside its well-established APAC markets, specifically in Europe and the U.S. The first Scotland BFT studio in Glasgow will open later this month and the first BFT studios in Indonesia and South Korean are set to open in July, continuing the global expansion of the brand. The brand has also experienced strong growth in the United States, driven by parent company Xponential Fitness, opening 30 studios across the country in 2023 and expanding further into New Jersey, Kansas, Missouri, and California so far in 2024.

For more information about BFT, please visit www.bodyfittraining.com.

About BFT

Founded in 2017 in Melbourne, Australia by fitness industry veteran Cameron Falloon, BFT offers a community-based 50-minute group strength & functional training program across 14 workouts. BFT uses science and technology-based training techniques to drive individual member health goals in an inclusive, coach-led group environment. By combining cardio with resistance programs, members benefit from training a different energy system and different muscle types every day to diversify movement patterns that aim to reduce fat and create lean muscle. BFT is headquartered in Irvine, CA and backed by Xponential Fitness, the largest franchisor of health and wellness brands. To learn more about BFT, visit www.bodyfittraining.com.

About Xponential Fitness

Xponential Fitness, Inc. (NYSE: XPOF) is a leading global franchisor of boutique health and wellness brands. Through its mission to make health and wellness accessible to everyone, the Company operates a diversified platform of ten brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running, strength training, metabolic health and yoga. In partnership with its franchisees, Xponential offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations throughout the U.S. and internationally, with franchise, master franchise and international expansion agreements in 49 U.S. states and 22 additional countries. Xponential's portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; CycleBar, the largest indoor cycling brand in the United States; StretchLab, the largest assisted stretching brand in the United States offering one-on-one and group stretching services; AKT, a dance-based cardio workout combining toning, interval and circuit training; YogaSix, the largest yoga brand in the United States; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements, and the largest Barre brand in the United States; Rumble, a boxing-inspired full-body workout; BFT, a functional training and strength-based program; and Lindora, a leading provider of medically guided wellness and metabolic health solutions. For more information, please visit the Company’s website at www.xponential.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625200130/en/

Media:

David Robertson, Fishman Public Relations

drobertson@fishmanpr.com or 847-945-1300

Source: Body Fit Training

FAQ

What is the recent expansion plan for Body Fit Training (BFT) in Scandinavia?

BFT has signed a Master Franchise Agreement to open at least 40 studios in Scandinavia over the next 10 years.

Which cities will BFT target first in its Scandinavian expansion?

BFT will open initial studios in Oslo, Stockholm, and Copenhagen within the next 12 months.

Who is leading the BFT expansion in Scandinavia?

The expansion is led by Tage Flugeim, a seasoned fitness operator with prior experience growing fitness franchises in Scandinavia.

What milestone will BFT achieve with its new studio in Barcelona?

The Barcelona studio opening in March 2024 will mark BFT’s 300th global studio.

How many new studios has Xponential Fitness opened in the U.S. in 2023?

Xponential Fitness opened 30 new studios in the U.S. in 2023.