Fast-growing EMS fitness franchise attracts European Wax Center co-founder as a minority investor, plus signs four large area developers in its first year
SCOTTSDALE, Ariz., May 31, 2023 /PRNewswire-PRWeb/ -- OHM Fitness announced today the company was recognized with the prestigious 2023 Franchise Times Dealmakers Award, the 11th annual project recognizing the boldest players driving mergers and acquisitions in franchising.
OHM Fitness was recognized for attracting European Wax Center co-founder Joshua Coba as a minority investor, in addition to signing four large area developers. By the end of 2022 just six months after opening its first location in Scottsdale, OHM Fitness had secured area developers for five territories including Arizona, South Florida, San Diego, Washington D.C., and New Jersey.
Today, the fast-growing EMS fitness franchise has awarded the rights to ten territories totaling more than 150 future studios.
"OHM Fitness is honored to receive the 2023 Franchise Times Dealmakers Award so early in its development," said OHM Fitness CEO and co-founder Doug Payne. "As soon as the news first broke in Franchise Times about a brand new concept called OHM Fitness, I was inundated with requests to chat from franchise friends and other experienced multi-unit franchisees from across the country. Through some of the deep relationships I have developed over my years of franchising, I have been fortunate that franchisees and area representatives have followed me on this OHM Fitness journey. This is just the start of what is going to be an electrifying ride!"
Coba's partnership with OHM Fitness was a strategic move for the new franchise. Coba secured area developer rights, a minority ownership investment in the franchise, and has committed to serve as a board member for OHM Fitness in South Florida. Coba will oversee the development of 34 franchise licenses and he and his wife, Jenni, will open and operate multiple locations themselves. They will also assist OHM Fitness in selling the other licenses to qualified, multi-unit franchisees.
"I knew that Joshua would easily be a widely successful area representative, but the opportunity to bring him closer to the corporate structure was a strategic and important move," said Payne.
Coba's experience in scaling franchises and taking a company public are huge benefits to OHM Fitness and has helped the company to build a corporate infrastructure that serves its franchisees from the start, despite it still being early in the company's formation.
"Being recognized for this award early on is a big deal for OHM Fitness," said Coba. "This franchise is already becoming a disruptor in the fitness industry and we expect it to continue to make a huge impact as locations begin to pop up in all major cities across the U.S. over the next year."
OHM Fitness is a special first-to-market franchise opportunity for entrepreneurs and experienced franchise industry professionals who are eager to capture their share in the $96 billion dollar fitness industry. The initial franchise fee is $39,000 and the total estimated initial investment ranges from $337,500 to $612,700. For more information about franchise opportunities available in your area, please visit http://www.OHMfitness.com or email [email protected].
Franchise Times Dealmakers is an editorial project and awards event designed to highlight excellence in buying and selling franchise companies to drive sustainable growth. Franchise Times calls for nominations in the fourth quarter of each year and presents the finalists to a panel of judges.
About OHM Fitness
OHM Fitness is one of the first franchises to deliver small group workouts using highly-effective electro muscle stimulation (EMS) through the use of wearable technology through its OHM EMPower Suit. This high-tech fitness experience packs the benefits of an intense two-hour workout into a low-impact, 25-minute session with a low rate of wear and tear on the joints, ligaments, and muscles, in comparison to other HIIT workouts. Founded in Scottsdale, Ariz., OHM Fitness currently offers area developer and franchisee opportunities to qualifying entrepreneurs.
For more information, please visit http://www.OHMfitness.com or email [email protected].
Media Contact
Lisa Sass, Serendipit Consulting, 602.283.5209, [email protected]
SOURCE Serendipit Consulting
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