Yoga Franchise With Strong Financial Backing Stretches to More Cities
Pure Barre’s Sister Brand YogaSix Has More Than 250 Deals Signed
Yoga studios continue to pop up everywhere with franchises and chains leading the way, each with their own modern spin on the ancient spiritual Hindu practice.
The result is a multibillion-dollar business that many retail center owners and real estate developers love to tap when creating a mix of tenants. These boutique studios typically fill 1,000-2,000 square feet and tend to attract clientele with disposable income.
Landlords keep getting more yoga studio choices. Irvine, California-based YogaSix, backed by the same company behind popular fitness boutique Pure Barre, is emerging as one of the latest options.
It only started franchising in January and recently announced that it had signed more than 250 franchise agreements.
“The rapid growth of Yoga Six is a true testament to the strong tribe we’ve established throughout the past nine months and the incredible demand for a modern approach to yoga in the market,” Lindsay Junk, YogaSix’s president, said in a statement.
YogaSix has 35 locations now. The new agreements put the chain well on its way toward having 300 locations over the next few years.
Its expansion comes after the company's purchase by Irvine-based Xponential Fitness, which has a portfolio of brands that include Club Pilates and CycleBar along with Pure Barre.
Anthony Geisler, Xponential’s CEO, said in a statement that YogaSix was a “perfect fit for our portfolio as it is a great complement to our already robust suite of brands.”
YogaSix started in 2012 in San Diego and eventually expanded to several cities in the Midwest. The latest franchise agreements will take the brand to Boston, Miami, San Francisco, Austin, Dallas, Denver and Des Moines, Iowa.
With its latest push, YogaSix may rival or eclipse industry leader Denver-based CorePower Yoga, which has more than 200 studios around the country but doesn’t franchise.
Both have strong private equity backing, but with an interesting twist. The investor that helped CorePower grow is now involved with Xponential Fitness.
CorePower, founded in 2002, grew with a significant investment from Greenwich, Connecticut-based L Catterton six years ago. Last March, it sold CorePower to Denver-based TSG Consumer Partners, which has a big portfolio of brands that includes Planet Fitness.
In October, Xponential Fitness bought Pure Barre. L Catterton invested in Pure Barre four years ago to help the chain grow to more than 500 U.S. locations. L Catterton contributed its investment to the deal with Xponential.
Marc Magliacano, a managing partner in L Catterton’s Flagship Buyout Fund, said in a statement that “we have known Anthony Geisler and his team at Xponential Fitness since he acquired his first concept, Club Pilates, and are truly impressed by the portfolio of brands that Xponential has attracted.”