Honors Holdings was already the biggest Orangetheory Health franchisee within the system. The corporate has simply acquired 24 extra areas throughout six states, in markets like Las Vegas, New York Metropolis, and the Washington, DC metro space. The multi-unit operator now has 102 Orangetheory Health areas in its portfolio.
Honors Holdings has been franchising with Orangetheory Health since 2017 and operates studios in Georgia, Kansas, Massachusetts, Nevada, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, and Washington state. The multi-unit franchisee additionally acts as an space consultant for the model and helps greater than 50 sub franchisee areas throughout quite a few markets.
“The Honors customary has all the time been to offer one of the best expertise for everybody,” says Jamie Weeks, founder and CEO of Honors Holdings. “Our progress can’t be achieved with out specializing in the well being of our new and present members, workers, and native communities. We have been lucky to climate the pandemic whereas nonetheless paying our workers, and we’ve remained centered on offering instruments to assist our workforce, studio members, and native communities develop.”
Honors Holdings had a monitor file of aggressive progress methods earlier than the pandemic struck. It grew from simply 14 areas on the finish of 2017 to greater than 70 within the first quarter of 2020. Now the corporate is planning to open greater than 20 new studios within the upcoming 12 months.
Honors Holdings has partnered with non-public fairness agency Prospect Hills Development Companions since 2017. Extra lately, Honors Holdings acquired a most well-liked fairness funding from an affiliate of Denver-based KSL Capital Companions, LLC.