A 38-year-old health club in the Washington area wants to muscle its way to more Maryland locations.
After getting an undisclosed sum of cash last year from Capital One, Sport & Health Clubs is ready to expand, says Nancy Terry, the health club's senior vice president of marketing. That money comes on top of the $25 million the McLean, Va., company received from investors in 2009.
Sport & Health will open two to three new sites this year. Each location will be between 40,000 and 50,000 square feet. Terry wouldn't say exactly which towns or counties health club managers are eyeing because the leases have not been signed.
"There's lots of great opportunities throughout the Maryland area and we're exploring all of those options right now," Terry says.
The company is looking at both shopping centers and freestanding locations in high-income areas.
Sport & Health recently opened its 25th location in Frederick in a former Gold's Gym spot.
Describing the industry as somewhat "recession resilient," Sport & Health had a solid financial year last year, Terry says.
Writer: Julekha Dash
Source: Nancy Terry, Sport & Health