- Gold's Gym
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Gold's Gym International, Inc. 
Type Private[1] Genre Fitness Founded 1965 Founder(s) Joe Gold Headquarters Irving, Texas, U.S. Owner(s) TRT Holdings Website www.goldsgym.com Gold's Gym International, Inc. is an international chain of co-ed fitness centers (commonly referred to as "gyms") originally started in California by Joe Gold. Each gym features a wide array of exercise equipment, group exercise classes and personal trainers to assist clients. Its headquarters are in Irving, Texas.[2]
Contents
Corporate history
The first Gold's Gym opened in fall 1965 in Venice Beach, California.[3] Dubbed "the Mecca of bodybuilding", it was frequented by Arnold Schwarzenegger[4] and featured in the 1977 movie Pumping Iron. The movie brought attention not only to the gym itself, but also to the world of bodybuilding and physique in general. Jim Morrison of The Doors was also a frequent visitor to the Gold's Gym in Venice.[citation needed] To this day, it is considered a landmark in the bodybuilding subculture[5] and has even achieved cult status[6] In 1970, Joe Gold sold the chain.
Today, Gold's Gym claims to be the largest chain of co-ed gyms in the world, with more than 650 locations in 42 states and 30 countries.[7] Gold's Gym has a membership of more than three and a half million, split almost equally between male and female patrons.[citation needed] Gold's Gym locations are equipped with cardiovascular and strength training equipment and offer group exercise classes such as group cycling, pilates, Latin dance, yoga[8] and stretching through the company GGX (Gold's Group Exercise) program. Many gyms also offer basketball, swimming pools and boxing studios.[citation needed]
The company also licenses its name to products such as fitness equipment and clothing. The famous original Gold’s Gym logo, a bald-headed weightlifter holding a barbell, was designed in 1973 by Ric Drasin, who was Arnold Schwarzenegger’s training partner for four years.[9] Gold's Gym's membership had included such celebrities as Jodie Foster, Morgan Freeman, The Rock, Hilary Swank, Keanu Reeves, Tiger Woods and Jessica Alba. [10] To this day, the original Gold's Gym in Venice is considered a sports landmark and is recognized by ESPN.com on its list of the 100 most important sports venues.[11]
Corporate information
Gold's Gym Stride Trainer 300 Elliptical
Gold's Gym is privately owned. It was acquired from its previous owner, private equity firm Brockway Moran & Partners, by Robert Rowling's TRT Holdings in 2004 for approximately $158 million. Brockway Moran had acquired the company in 1999.[12] The current chief corporate officers include President and CEO Jim Snow,[13] David Fowler as senior divisional vice president, and Aaron Watkins as senior vice president of finance and accounting.[14] Corporate headquarters are in Irving, Texas which is in the Dallas metropolitan area.
Since Gold's Gym opened its first international location in Canada in 1985, the company has expanded its global franchising program to include nearly 180 international gyms including operations in Russia, Japan, the United Kingdom, Germany, Egypt,Saudi Arabia, Mexico, India and Peru.[10] In 2009, the company opened its first locations in Spain, Poland and Venezuela.
In 2004, the company introduced the Gold's Gym Fitness Institute to serve as a think tank on critical health and fitness issues. The Gold's Gym Fitness Institute's members includes Dr. Belisa Vranich, Robert Rheames, Mike Ryan and Eric Plasker, among others.[15]
Gold's Gym operates a national corporate wellness program. Clients include Whole Foods, the U.S. House of Representatives, American Airlines and Exxon Mobil.[16]
In 2004, Gold's Gym became a national fitness sponsor of the American Diabetes Association's Tour de Cure. In 2006 the company became a National Strategic Partner of the American Diabetes, the ADA's highest designation for a corporate partner. Since their relationship began, Gold's Gym has raised more than $2.5 million to benefit diabetes research, education and awareness.[17]
In 2009, Gold's Gym partnered with video game manufacturer Ubisoft to create the "Gold's Gym Cardio Workout" video game for the Wii. The game received positive reviews.[18]
Gold's is one of two official health clubs of the AARP, where it offers month-to-month memberships, and is the official health club of the Blue Cross and Blue Shield Association. Gold's has begun offering online enrollment.[19][20][21]
Criticism
Numerous customers have reported Gold's Gym franchises acting in dishonest and unscrupulous ways. They have reported advertised deals not being honored, billing irregularities, contract terms being fraudulently altered by sales staff after signing and problems canceling accounts or relocating.[22] A Gold's Gym in Provo, Utah was successfully sued for fraud in 2006 for changing a contract after it was signed in 1999.[23] Like many gyms, some Gold's Gym franchisees lure customers with "free" sign-up or gift certificates with fabricated nominal values, and then require long term contracts that are very difficult to get out of without paying cancellation fees and following long and inconvenient procedures (such as having to send a certified letter to their central billing office a month in advance). In the past, gym websites did not give membership rates and the gyms would usually not tell customers the rate over the phone, asking instead that customers come to the gym to have a tour and discussion, which often included a heavy sales pitch.[24] Some Gold's gyms require "fitness assessments" before supplying a membership.
Cardio Cinema
Gold's Gym was one of the first companies to introduce the "Cardio Cinema" concept, which is an actual movie theatre inside the facility with treadmills instead of seats. Gold's Gym now has more than 50 cardio cinemas across the U.S., more than any other competitor.[17][25]
References
- ^ Brown, Erika (2003-08-07). "Investing In Obesity". Forbes. http://www.forbes.com/2003/08/07/cz_eb_0807obesity.html. Retrieved 2007-09-24.
- ^ "Contact Gold's Gym Corporate." Gold's Gym. Retrieved on October 22, 2011. "The corporate offices are located at: Gold's Gym International 125 E. John Carpenter FWY, Suite 1300 Irving, TX 75062"
- ^ About Gold's. URL retrieved on July 26, 2008.
- ^ Seeing Stars: Where the Stars Work Out. URL retrieved on January 9, 2007.
- ^ Emery, Mike. Men's Bodybuilding: A Short History. January, 2003. URL retrieved on January 9, 2007.
- ^ The cult of the gym: The new puritans. The Economist. December 19, 2002. URL retrieved on January 9, 2007.
- ^ "Pressroom: Facts and Stats". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/golds/pressroom/index.php. Retrieved November 3, 2009.
- ^ "Gold's Story". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/golds/index.php. Retrieved November 3, 2009.
- ^ Perine, Shawn (December 2005). "Gold’s goes bald". Flex. BNET. http://calbears.findarticles.com/p/articles/mi_m0KFY/is_10_23/ai_n15894870. Retrieved 23 November 2008.
- ^ a b Smith, Stephen P. (2005). "America's Greatest Brands, Volume IV".
- ^ Caple, Jim (September 19, 2008), "America's 100 Most Important Sports Venues", espn.com
- ^ "TRT Holdings Inc. is new owner of Gold's Gym". Dallas Business Journal. June 15, 2004. http://www.bizjournals.com/dallas/stories/2004/06/14/daily20.html. Retrieved 2009-03-02.
- ^ Gold's Gym and related industry info. Hoover's. URL retrieved on January 9, 2007.
- ^ "Gold's Gym International Announces Executive Changes". businessweek.com. Business Week. February 1, 2009. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=97408. Retrieved 2009-08-04.
- ^ "Pressroom: Fitness Institute". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/golds/pressroom/institute.php. Retrieved November 3, 2009.
- ^ "Corporate Wellness". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/golds/wellness.php. Retrieved November 3, 2009.
- ^ a b http://www.diabetes.org/how-to-help/sponsor/national-strategic-partners.html
- ^ "Press Release: Gold's Gym Partners with Ubisoft on New Cardio Workout Video Game". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/golds/pressroom/press_release.php?id=66. Retrieved November 3, 2009.
- ^ Gold's Gym/AARP Program - Online Enrollment Program
- ^ American Diabetes Association - ADA Program Page
- ^ Gold's Gym – Blue Cross of Idaho
- ^ Ryn Gargulinski (January 13, 2009). "Complaints against local gyms triple since 2005". Tucson Citizen. http://www.tucsoncitizen.com/ss/fromcomments/107570.php. Retrieved 2009-03-02.
- ^ Andreason vs. Felsted, Viertel, Peterson and Gold's Gym of Provo (May 11, 2006). Text
- ^ "Oxnard, CA Membership Information". goldsgym.com. Gold's Gym International. http://www.goldsgym.com/gyms/page.php?gymID=721&sec=6751&cid=2408. Retrieved November 3, 2009.
- ^ http://www.wivb.com/dpp/news/Movie_theater_workout_20081108
External links
Categories:- Companies established in 1965
- Companies based in Irving, Texas
- Franchises
- Health clubs in the United States
- Privately held companies based in Texas
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