Gold’s Gym has signed a Development Rights Agreement with fitness industry veteran and franchisee Tony Caparotta to open 17 venues in the Greater Toronto and Hamilton area (GTAH) as part of the company’s planned expansion in North America. The first gym is slated for a 2025 opening.
A new Gold’s Gym opened in Calgary, Alberta, earlier this year, and the gym brand said it will have opened eight new gyms in the U.S. and Canada by the end of 2024.
“Growing up in Toronto has shaped my perspective and appreciation for its vibrant culture and diverse communities, and I look forward to bringing the world’s most well-known fitness brand to their neighborhoods,” said Caparotta. “Gold’s Gym has always held a special place in my heart due to my previous supplier relationship with the Canadian clubs, and I’ve admired Gold’s ability to resonate with multiple generations, particularly Gen Z and Gen Y, who are a significant demographic in the fitness industry.”
The GTAH Development Agreement will further expand Gold’s rapid growth in North America. The company opened a new gym in Calgary, Alberta, earlier this year. By the end of 2024, it will have opened eight new gyms in the U.S. and Canada.
“Gold’s Gym is the world’s most famous gym brand, and we are growing by going back to our bodybuilding roots with a focus on strength and performance training in each of our gyms,” said Gold’s Gym VP of Franchising Kevin Christie. “Franchisees like Tony know the power of the brand and will bring it to life in Toronto for the serious fitness buffs and bodybuilders who want to fulfill their potential and reach their fitness goals.”
Gold’s Gym has existing franchise agreements in Atlanta, GA; Long Island, NY; New York City; Miami, FL; San Jose, CA; Southern California; and Washington, D.C.
In 2020, the German fitness company RSG Group acquired Dallas-based Gold’s Gym in a bankruptcy auction for an estimated $100 million.
Image courtesy Gold’s Gym
