Dec 7, 2007 12:56 PM
Bricks Buy Rights to Planet Fitness Club Locations
DOVER, NH -- Victor and Lynne Brick, owners of the Brick Bodies chain in Maryland, recently purchased the rights to several Planet Fitness locations in their home state, according to Planet Fitness and World Gym President Ben Midgley.
The Bricks reportedly paid $850,000 in a deal that requires them to open 34 Planet Fitness clubs over the next 10 years.
“This purchase is really about broad industry acceptance that the [Planet Fitness] model works very well, as opposed to the past few years where people were thinking that Planet Fitness just hit the low-end consumer and hurt the market,” Midgley says. “The Bricks are making a very smart strategic move that other mutli-club operators could do as well. This purchase will complement their other clubs and allow them to hit each market segment in the communities they serve.”
The Brick Bodies chain features seven clubs, five coed and two women-only clubs. The Bricks have also produced home-exercise videos and home fitness products.
“Planet Fitness serves a part of the market that is presently not being served,” Victor Brick said. “We intend to continue to expand Brick Bodies and the Lynne Brick brand, but we think that the Planet Fitness brand complements it well.”
