24 Hour Fitness Chairman Mastrov Resigns
(FranchisePick.com) What’s going on at 24 Hour Fitness?According to a company statement sent to Club Industry’s Fitness Business Pro, Mark Mastrov, the founder of 24 Hour Fitness, has resigned as chairman of the board to “pursue other opportunities.
Mastrov founded the [del]* 24 Hour Fitness in 1983, and has been at the helm for 25 years. According to the Fitness Business Pro article, “24 Hour grew from a one-club company into the highest-revenue producing company in the fitness club industry. 24 Hour serves more than 3 million members in more than 400 clubs worldwide.”
Mastrov was moved to the chairman of the board position in 2006, a year and a half after Forstmann Little & Co. purchased 24 Hour for $1.6 billion.
Read the article here: Mastrov Resigns as 24 Hour Chairman
SHARE YOUR OPINIONS AND INSIGHTS INTO THE 24 HOUR FITNESS FRANCHISE AND/OR MARK MASTROV’S RESIGNATION.
* This post incorrectly stated that 24 Hour Fitness was a franchise. Thanks to Don Beauregard for the correction. 24 Hour Fitness, which has grown to more than 385 clubs and more than 3 Million members worldwide, claims to be ”the largest privately owned and operated fitness center chain in the United States and world.”
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POSTED IN: 24 Hour Fitness
11 opinions for 24 Hour Fitness Chairman Mastrov Resigns
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Jan 16, 2008 at 2:32 pm
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Don Beauregard
Jan 16, 2008 at 10:44 pm
I don’t think 24 is a franchise.
sean
Jan 17, 2008 at 5:17 am
Don Beauregard said: I don’t think 24 is a franchise.
Don is right. 24 Hour Fitness does not appear to be franchised - at least domestically. I don’t know what the arrangement is in Asia. I believe I was thinking of Anytime Fitness. Good catch, don.
It will be a benefit to be corporate owned if their trademark is ever ruled too generic for its Federal Registration, don’t you think? When “convenient food store” was protectable until the term “convenience stores” became widespread. I wonder if “24 Hour Fitness” is still distinctive enough now that there are clubs using that as their taglines. Anyone know?
chris
Jan 19, 2008 at 7:32 pm
Mr. Mastrov is one of the smartest guys I have ever known. I wish him nothing but the best for his future. He is a great man, friend, father and husband. Remember he made 24 Hour Fitness from nothing starting with one lone club and a dream. Good luck Mark, you da man…
sean
Feb 5, 2008 at 8:15 am
The list of all FranchisePick.com articles & posts on 30 Minute Fitness Franchise news & issues has been updated:
30 Minute Fitness Club Franchises: Blogliography
Links include the Forbes story, FitnessBusinessPro article and links to stories on the Curves franchise, the Contours Express franchise, the Butterfly Life franchise, the 1-2-3 Fit franchise and others.
Feel free to check it out and let me know if there are links I should add.
Janeane
Feb 10, 2008 at 11:07 pm
24 Hour Fitness is a well known name however unless you go to a brand new one, most are dirty, run down and the equipment is old. There are some that are not even open for 24 hours. The sales pitch they do on you is also a bit much. I had considered looking into the availability in franchise opportunities however I guess they no longer sell them. I would not recommend anyone open a gym unless they have experience, a good attorney, lot’s of money and go into a community where there isn’t a gym on every corner. Do your homework. I own 2 gyms in small towns and I’ve had good luck in the business. If I lived in the big city I would join a smaller independent gym as the owners usuallly take better care of their facilities and offer better service than a big chain like 24 hour. Good luck to all.
Mad Member
Feb 16, 2008 at 11:26 pm
After Mr Mastrovs departure, 24 Hour Fitness will be increasing their current members dues by 3%, 5% in California. Lots of changes coming as they venture to become a publicly traded company.
Wake Up
Feb 27, 2008 at 10:19 pm
To Mad Member- The economy is on a downslide and the U.S. dollars value is as well. A majority of clubs in the industry raise dues annually with inflation. Don’t be a mad member over a $1.
To Janeane- I am a member of 24 Hour and they are just as dirty as the next gym. We don’t pay $150 either so wake up to the real world and start cleaning up after yourself. The equipment works fine. You need a trainer to show you how to use it. The only clubs that are not open 24 hours never have late guests or are located in the ghetto. I’m very surprised you run a gym. Remember that the successful ones don’t need to bash on their competitors to gain business.
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Disgusted Member
Mar 10, 2008 at 4:54 pm
Steer away from joining 24 Hour Fitness! Mark Mastrov has lost touch with the business and doesn’t understand what it is today. 24 Hour Fitness has to be one of the most disorganized, dishonest, dirty fitness centers ever! I have belonged to plenty so have a wide range of experience over 30 years and never have I seen such money grubbers, such incompetence in personal training ethics and principles, in the aerobics program, in the idiocy of the front desk staff - it is really unbelievable all the promises they make and readily break without regard for member interests. I don’t mind paying good money for a good gym, but I resent being lied to and ignored repeatedly from the local gym level all the way up to corporate. It is just not a good way to do business and I recommend people steer away from joining, regardless of how good the sales pitch is in the beginning.
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