Ritual Gym Signs Extension of Franchise Area Development Agreement in Spain
SINGAPORE, Oct. 29, 2021 /PRNewswire/ -- Leading homegrown boutique fitness brand, Ritual Gym, has entered into an extension of its Franchise Area Development Agreement in Spain, which will see the presence of Ritual Gym in Spain grow to 10 outlets in the next three years across the country.
The agreement is a partnership between Ritual Gym and entrepreneur Ludovic Holdeberke, who learned about the 30-Minute Gym’s concept during his time in Singapore on an MBA program. Since making its European debut in Madrid in 2018, Ritual has since grown in popularity throughout the region with a franchised outlet in Zurich opening its doors a year later.
Holdeberke started his career in banking at J.P. Morgan and moved on to consulting at Boston Consulting Group afterwards. He opened his first Ritual studio in Madrid, Spain, only 6 months after graduating from his MBA program in Singapore. After a COVID-induced streamlining of the business model and convinced by the scalability upside, he will open his 2nd and 3rd studio in early 2022.
The Ritual franchise is owned and operated by serial entrepreneur, Brad Robinson and industry veteran, Ian Tan. The brand was founded in 2013 in Singapore, and now has multiple locations across four continents. Offering high-intensity, 20-minute workouts, the Ritual method focuses on free weights and bodyweight movements designed to build strength with respect to the way the body is designed to move.
The extension of its Franchise Area Development Agreement in Spain is part of a resumption to global expansion for the company since the COVID-19 pandemic began early last year. Initially poised for franchise in several more territories, the implementation of lockdowns around the world paused expansion plans. During this time, Ritual developed the home workout app, Ritual FIT. The app, focused on personalized audio coaching, has since evolved into a standalone product used by both Ritual members and workout enthusiasts around the globe.
“This new Spanish agreement, along with our previously announced development agreements, means Ritual Gym now has commitments for almost 20 international studio locations,” said Sharma Das, COO of Ritual Group. “Ludo and his partners have carried the brand extremely well through the pandemic and we’re looking forward to our expansion within the region.”
For more information on owning a Ritual Gym franchise, visit www.ritualfranchising.com.
ABOUT RITUAL GYM
Ritual Gym is a leading boutique gym franchise that started in Singapore in 2013 and now has multiple locations across four continents. The first Singaporean gym to franchise globally, it now has multiple franchises in Spain, Brazil, United States and most recently, Switzerland. Ritual is owned and operated by serial entrepreneur, Brad Robinson and fitness veteran, Ian Tan. Offering high-intensity, 20-minute workouts, the Ritual method focuses on free weights and bodyweight movements designed to build strength. With four levels of progressions, varied daily workouts and small class sizes which are socially distanced by design, everyone gets plenty of personal attention.
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SOURCE Ritual Gym