In Deal Tracker, StretchLab’s parent company proves attractive
Flexibility is the mission at StretchLab, as this trainer and client demonstrate.
A customer at its Los Angeles location first, Byron Elton said he immediately thought StretchLab was a concept ripe for growth. Then when Xponential Fitness, the group behind explosive brands such as Club Pilates, bought the now four-unit assisted stretching concept, Elton attended its first discovery day and was sold.
“The Xponential team was very impressive and their track record with their other existing brands sold us on them,” said Elton, who created Elton Enterprises and signed a six-unit franchise agreement to develop StretchLab in Los Angeles and Seattle.
This is Elton’s first foray into franchising, making the investment after a career in media, including running the West Coast office for AOL. He said he looked at some other franchise opportunities but ultimately was drawn to Irvine, California-based StretchLab as “the right concept and the right time with the right people.”
“While other concepts have very specific demographics, flexibility is a concern for everybody” from men to women, both young and old, he said. “The experience of being professionally stretched is remarkable. After one session on the table, most people are sold. Even before this opportunity, the idea of assisted stretching seemed to resonate positively with pretty much everybody.”
And unlike other fitness brands with significant capital costs, StretchLab has a simple buildout, Elton noted, and stands out for its one-to-one flexologist to client ratio. The initial total investment ranges from $153,100 to $223,500.
Elton already has two leases in the works for L.A. and expects to have all six of his units, including those in Seattle, open by the end of 2019. He stressed the importance of having strong corporate support, including Anthony Geisler, CEO and founder of Xponential, and StretchLab President Lou DeFrancisco, who “have worked with us every step of the way.” The brand’s four open locations are in California, with more than 30 in development across the country.
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Deal Tracker is the place to find news of multi-unit development agreements, brought to you by Managing Editor Laura Michaels. Want more? Sign up for the semi-monthly e-newsletter at franchisetimes.com/e-newsletter. To share your brand’s multi-unit deals, email details to firstname.lastname@example.org