TITLE Boxing Club, a boutique boxing fitness franchise with more than 170 clubs across the U.S. mainland, announced Tuesday a new international deal that will bring the brand to Dominican Republic and Puerto Rico.
Plans for Puerto Rico call for opening two locations, in Condado and Guaynabo. The first gym will open during the latter half of 2018 and the second a year after that.
Each gym will generate about 10 jobs, this media outlet confirmed.
The initial investment for a TITLE Boxing Club franchise varies based on the market and site selection, however the average costs range from $143,256 to $394,227, according to the company’s website. The company offers potential franchisees financing options, including Small Business Administration loans.
The deal for the Dominican Republic and Puerto Rico expansion marks the first signed agreements in Latin America for the fitness franchise. The brand already operates one international location in Cancun, Mexico. Dominican entrepreneur Manuel Corripio-Alonso, vice president of the Corripio Group will run the franchise in both islands.
“I discovered TITLE Boxing Club while visiting my son in Boston. He is a member at a club in the city and invited me to join him for a workout. By the end of the hour-long class, I was sold – not only on the workout, but on the investment opportunity,” said Corripio, who also operates multiple franchise brands including Burger King, Papa John’s, Krispy Kreme and Orangetheory Fitness in the Dominican Republic, employing more than 12,000 people.
With the global fitness and health club industry generating more than $80 billion in revenue per year, the market remains hot for TITLE Boxing Club to continue its domestic and international expansion, the company said.
“This is a landmark agreement for TITLE Boxing Club and we couldn’t be happier to add Manuel and his team to our TITLE Boxing Club family,” said company President Susan Boresow. “This expansion marks a new era for our brand and we are looking forward to offering our one-of-a-kind fitness experience to customers in the Dominican Republic and Puerto Rico.”