EōS Fitness is on the move.
news: According to Bloomberg, the HVLP gym operator is seeking up to $100 million in outside funding to support its growth across the US.
EōS has 150 locations open or in development across six states, with plans to expand to 250 locations by 2030.
Big Lift
EōS, which charges a $9.99 basic membership fee, is a rival to Planet Fitness, and while PF has been raising prices amid turmoil, the Dallas-based operator has kept its policies in place, citing per-club profitability.
As it seeks new capital to compete for territory, the company is also upping its game.
Upsell. In the HVLP segment, the ultimate goal is to convert standard membership fees into premium accounts.
To attract avid fitness enthusiasts, EōS spent $7.5 million upgrading its premium-level clubs throughout the first half of the year and reimagined the HVLP experience.
- EōS has partnered with EGYM to equip clubs with co-branded smart strength training machines.
- This year, the company added one-on-one stretch assistance to its in-house recovery lounge, “The Tank.”
- In the first quarter, it opened “The Set,” a highly designed strength-training room for creators to film themselves.
Money moves. Planet Fitness is refinancing for $800 million to shore up its business, while other brick-and-mortar locations are luring investors with lofty growth targets. Snap Fitness’s parent company is preparing for a sale, Equinox is in a deal for $1.8 billion, and Bally’s is in a deal for $1.8 billion. [solidcore] You are blocked.
Future Outlook: To keep members engaged, over 25% of EōS members visit at least eight times a month, and with over 100 gyms this month, the investment in experience may pay off.