Having a sound real estate strategy can make or break a fitness franchise brand just as much as its concept, hiring the right coaches or choosing the right franchisees.

As part of ATN’s DISRUPT video series, commercial real estate experts Jay Siano and Douglas Jerum of SABRE sat down with SWEAT440 co-founder and CEO Cody Patrick and Athletech News founder and CEO Edward Hertzman to reveal key insights into building a scalable and successful fitness franchise real estate program. Their conversation features success stories from SWEAT440 and other industry leaders including Squeeze.

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In an era featuring virtual trainers, AI-designed wellness plans and equipment manufactured for at-home usage, brick-and-mortar continues to stand the test of time. It’s not dragging its feet either. Fitness real estate remains a surging element within the industry, where wellness real estate even embodies the fastest-growing market in its economy prior to the pandemic. 

At the 2025 ATN CEO Summit, Sabre Co-Founder and CEO Jay Siano, Sabre Principle Douglas Jerum, Solidcore President and CEO Bryan Myers, Asana Partners Managing Partner Terry Brown and Athletic News Founder and CEO Edward Hertzman, sat down to explain how operators can successfully drop in on this real estate wave and ride it for years to come. 

While properties with spacious floors and ample opportunity for diversified offerings have a magnetic pull for those involved in fitness real estate, the panel began by applying a bit of caution, arguing operators must first value their core goals and motives in this increasingly saturated market. 

“You can’t be everything to everybody,” said Siano. “We see a lot of concepts that have a little too much square footage and they decide to throw in a cold plunge or a sauna because they now want to get in the recovery business. I will tell you that if Solidcore chose to do that, they would not be Solidcore.”

With ample brands dedicating themselves to specific modalities, you don’t want to steer away from your own, and in some cases, test a market for someone else to eventually take over. 

“By throwing in that recovery, hot and cold thing, chances are you do it for a few hot minutes, and then all of a sudden, Jamie Weeks is going to open a Swthz on your doorstep, and that business is probably going to go away,” Siano added. “You’re going to take your eye off the ball and be less great at what you’re supposed to be great at.”

The bright lights of big cities represent another snare ambitious franchisors often fall into. While many see New York or Los Angeles as their first step toward success, experts agree it should be one of their last.  

“If you can make it here, you may not make it anywhere else,” said Jerum of the Big Apple. “People are totally enamored with having a successful concept here, but this is unlike any other market in the country.” 

Jerum instead advised opening in a second-tier market, where there’s no unlimited supply of customers, requiring brands to establish a disciplined staff and capital expenditures. This gives brands a more legitimate test to ensure they’re ready to take those riskier steps. 

“I’m much more comfortable putting money into a business that is successful in Columbus, Ohio, because then if you go to New York, you’re gonna probably totally crush it,” Jerum added.

Myers agreed from a big picture standpoint. Making it clear to investors you can succeed in secondary or tertiary markets reduces risk, which remains the largest roadblock between brands and acquiring additional investments.  

“What you ultimately are able to do by showing that the model works in multiple different types of markets is actually taking risk off the table for them,” said Myers. “If you are overexposed to just the coastal cities, the New Yorks, the LAs, and then something happens in those cities, economic environment changes happen and those cities are the last to reopen, they want to try to minimize that exposure, that concentration risk. That is huge, as they are thinking about sitting in front of their investment committee and advocating.” 

No business transactions today take place without influential data behind them either. Solidcore, having grown to 110 locations by now, is no different. Before purchasing real estate, the brand looks beyond who their customer is, but who their customer has been to understand how they might evolve, allowing them to better serve them in the future. That includes looking at what a region’s GDP drivers are or if there’s a net inflow or outflow from a population standpoint.

“We want to know that when are signing a lease with an amazing landlord partner like Asana, and we’re saying, we’re committed to this site for at least 10 years, that we’re not just signing that site knowing that the business can be great today, but that we also know that this is going to be great five or 10 years from now,” Myers explained.

Be on the lookout for more information on the ATN Innovation Summit, a can’t-miss two-day event to be held on June 17th and 18th in New York City featuring the biggest names, brands and ideas across fitness, health and wellness.

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Solidcore founder Anne Mahlum and wellness real estate pro Jay Siano have launched a new advisory firm catering to health, beauty, fitness and wellness brands.

The new venture, A. Jaybird, works with companies with at least three existing locations or $2.5M in annual revenue and assists brands through all business phases from start-up to exit. 

“From Solidcore’s founder to CEO to executive chairwoman, I understand every facet of creating, scaling and selling a nationwide fitness company,” Mahlum said. “We started A. Jaybird because we want to see other entrepreneurs focused on consumer health and wellness win and achieve extraordinary success.”

The fitness entrepreneur sold the Pilates-inspired brand in early 2023 for nearly $90 million. Last month, Reuters reported that the rapidly expanding Solidcore is mulling a possible sale that could value the brand at over $750 million, including debt. 

While the firm will focus on guidance, a spokesperson tells Athletech News that A. Jaybird may participate in investing if there is a fit. 

Mahlum most recently invested $500,000 in herbal medicine brand Apothékary, a testament to her belief in healthy living. She’s bullish on longevity and is particularly interested in alcohol-free products that support optimal health — thoughts she shared in a wide-ranging interview with ATN in April. 

“Investing in Apothékary is not just a financial decision for me; it’s a commitment to supporting innovation and empowering entrepreneurs who are reshaping industries,” Mahlum said of the deal.

She’s also invested in The Athletic Clubs, a New York-based group fitness startup and Ice Barrel, a maker of ice bath tubs for cold water therapy.

Just as Mahlum has mastered the fitness and wellness space, Siano played a key role in scaling Soldicore beyond its D.C. area roots. He is also the co-founder of Sabre Real Estate Advisors.

“With decades of spearheading real estate programs for some of the world’s foremost brick-and-mortar brands, I am fortunate to have an unrivaled understanding of the entire process pivotal to achieving unparalleled corporate growth,” Siano remarked, adding that when Mahlum approached him to combine their expertise, he didn’t have to think twice.

“This new venture with A. Jaybird goes hand in hand with Sabre’s national real estate platform that has played a critical role in the success of scaling many elite brands across the country,” Siano said.

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Will 2023 be known as the Year of Ambition? Yes, says Anne Mahlum, founder of Solidcore and Back on My Feet. Mahlum has raised $5 million for Ambition, her new fitness and wellness venture, and she has signed a lease to bring Ambition to 220 Fifth Avenue.

“I love creating and scaling businesses that make a positive impact on people’s lives, and Ambition will be no different,” Mahlum promises.

The new fitness and wellness concept is set to open in February 2023, with three additional locations in Brooklyn and Manhattan in the works. Ambition will offer four different fitness classes and host events centered on wellness experiences. 

The boutique-style fitness studio will have both heated and unheated rooms. Classes include Pure Strength with Fitbench stations and Y bells, Athletic Conditioning, a Yoga-inspired athletic class with isometric holds, and Recovery with yin yoga.

“We feel there is a need in the market right now for a new premium brand to offer multiple fitness modalities under one roof and to provide sophisticated programming and educational tools on how to be your most optimized self to achieve all your goals,” remarked Mahlum on her latest fitness venture.

Solidcore, which she founded in 2013, now has 88 studios in 27 states. Mahlum raised another $50 million in April and promoted Bryan Myers to CEO. Her success caught the eye of Nolen Young, investor and founder of AXLE.  

“After watching Anne build a business, a brand, and such a strong community through Solidcore, I wanted to be a part of the next chapter. I haven’t met anyone else in the fitness space that is able to execute a vision and pivot quickly while building a community around her,” Young said.

The new fitness venture promises to allow guests to meet their individual goals in a group setting while working out in a beautiful and inspiring environment. “Ambition’s four concepts will work together to deliver workouts focused on strength and endurance, cardiovascular conditioning, flexibility and mobility, and mental toughness,” said Jo Gomez, who will serve as Ambition’s Head of Product. “Each class will be taught by a highly knowledgeable and educated coach who will push you at your own level while also facilitating a team environment.” 

Gomez has extensive fitness industry experience, having previously served as Solidcore’s Director of Training and as the Director of Trainer Operations for Openfit, Beachbody’s virtual platform.

Meagan Robar, Ambition’s Head of Experience, will be accompanying Gomez. Robar has also worked at Solidcore and has worked with companies such as Lululemon, Equinox, and Disney. Jayson Siano, Founder and CEO of Sabre Real Estate, will serve as Lead Development Advisor for Ambition, and Stephanie Finigan will serve as Chief of Staff.

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