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February 12, 2016 11:49 AM ET

Hotels, Restaurants and Leisure

Company Overview of Snap Fitness, Inc.

Company Overview

Snap Fitness, Inc. operates and franchises fitness centers. The company was founded in 2003 and is based in Chanhassen, Minnesota. It has locations in Australia, Canada, India, Mexico, New Zealand, the United Kingdom, the United States, Egypt, Singapore, Thailand, Hong Kong, the Philippines, Indonesia, and Malaysia.

2411 Galpin Court

Suite 110

Chanhassen, MN 55317

United States

Founded in 2003





Key Executives for Snap Fitness, Inc.

Founder and Chief Executive Officer
Senior Vice President of Franchise Sales
Vice President of Personal Training
Vice President of National Club Support
Vice President of Franchisee Training
Compensation as of Fiscal Year 2015.

Snap Fitness, Inc. Key Developments

Snap Fitness Signs Four Master Franchise Agreements

Snap Fitness announced that master franchise agreements were signed for four countries in one week. The company will expand to Netherlands, Belgium, Luxembourg and Georgia. Han Walet and Theo Vermeeren will grow the brand in the Benelux region, backed by Gijs den Hartog on behalf of Capital Mills. The group has several years of experience owning and operating health clubs. Their first club is set to open in the Netherlands before the end of 2015. Snap Fitness will work with three partners to develop and grow the brand in Georgia: Archil Piriashvili, Levan Diasamidze, and Zaza Pachulia. The three partners come from bank and hotel ownership backgrounds.

Snap Fitness To Raise Funds

Snap Fitness, Inc. is planning to raise funds. Snap Fitness plans to invest INR 3.5 billion to open 300 health clubs in India in the next three years, and will raise funds for the same. B M Vikram, Chief Executive Officer of Snap Fitness said, "The company will look at funding from the parent company, through equity or through an IPO."

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