Blink Fitness is gearing up to expand into Northern Virginia with five new locations in Arlington, Alexandria and Fairfax.
Northern Virginia-based Cove Fitness LLC inked the 10-year agreement with the New York fitness chain to bring gyms to the region that will create about 70 jobs and occupy 90,000 square feet.
The fitness chain currently has more than 90 locations open or in development across eight states and will now also soon enter Austin, Texas, and Charleston, South Carolina.
The cost to develop a Blink franchise is roughly between $1.5 to $2 million.
Founded in 2011, Blink Fitness came in a No. 2,138 on the Inc. 5000 list of fastest growing private companies, bringing $99.3 million of revenue in 2017.
Justin Bristow and Ned Williams created Cove Fitness in 2017 along with two other partners and said Blink Fitness is their first investment. They said all four partners are members to luxury fitness company Equinox Fitness, Blink’s parent organization.
Williams said the…Read the full story from the Washington Business Journal.