The Fernwood franchise has announced plans to divest interest in its remaining 18 company-owned clubs.
According to gym franchise founder Diana Williams, the new direction will allow the company to focus more intently on franchising and expansion into other markets.
"Fernwood is best suited to franchising given that the company's model is so heavily focused on servicing our members,” she said. “The move will also allow us to concentrate more heavily on growth, both domestically and internationally.
"This is a great opportunity for people to have equity in a major national brand. Profitability of our franchised clubs is 65 per cent higher than that of company-owned clubs, with the highest profit of $930k showing in 2005."
Fernwood Women's Health Clubs was established in 1989 as a single club in Bendigo, Victoria. Today, Fernwood claims to be the largest women's only health club in Australia with over 80,000 members, 2,000 employees, 70 health clubs and an annual turnover in excess of $90 million.
1-Feb-2007