24 Hour Fitness Chairman Mastrov Resigns
January 16, 2008 by Sean Kelly
Filed under Business
(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.”
I don’t think 24 is a franchise.
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?
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…
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.
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.
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.
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.
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.
Jeanne I have been to your so called two gyms and they suck balls. you are all sooo full of it half of your stuff your team doesn’t even know how to fix and you yourself have taken too much money from me. so go blow steam I am going back to 24hr fitness
Oh disgusted member you are probably the worst of all. Stop being a lazy fat bastard and pick up after yourself, your mom doesn’t work there and if she did, she would give you a whooping and dude stop using the wall dryer as your crotch blower. trust me its not going to get any bigger just smaller . there sales pitch is better and better and if you think it was a bad pitch. well you know what they say no real bad sellers just bad buys. Good buy and out the door with your candy ass night
Mark Mastrov is a great role-model. Starting 24 Hour Fitness he demonstrated how a person can make their dreams into reality. Working with 24 Hour Fitness provided me with the opportunity to make a positive change in the lives of many others. 24 Hour Fitness taught me many great values that have assisted me to grow as a person and achieve my wildest dreams. Thank you Mark!
Also a special thanks to: Brian, Danny, Joe, Adam, Dave, Liz, Keith, and Rod