EoS Fitness Seeking $100M To Fund Growth, Per Report

The low-price chain plans to open over 250 gyms by 2030. It’s reportedly eyeing at least $100 million in private funding to support that goal

EoS Fitness, an amenity-rich, high-value, low-price (HVLP) fitness operator, is reportedly seeking new capital to fuel its growth. In Q1, EoS Fitness opened five new gyms in four states as it aims to open over 250 gyms by 2030.

Bloomberg, citing anonymous sources close to the matter, says bankers have sourced investors, including private credit firms, for at least $100 million to support the HVLP fitness brand’s growth strategy. The bankers are said to have emphasized the profitability of Eos Fitness on a per-location basis, according to the publication, with some lenders viewing the capital infusion as a potential pathway to a future public offering.

The ‘Better Gym. Better Price’ fitness chain, which launched in 2014, has over 125 locations open or in the works and has reinvested $4 million in its gyms to enhance the member experience and plans to invest an additional $12 million throughout the year.

The fitness chain has signed six new leases in the first quarter of the year for Texas and Arizona and plans to open its first locations in Dallas, Celina and Hurst over the next two years.

Texas has been a focal point of EoS Fitness , moving its headquarters to the Lone Star state in 2022 and recently partnering with the NFL’s Houston Texans and becoming a Houston Texans Cheerleaders sponsor to inspire people to conquer their goals. Elsewhere, the fitness chain is a gym partner of the Arizona Cardinals Cheerleaders and an official gym partner of the Las Vegas Raiders and Raiderettes.

Most EoS locations offer three membership tiers starting at $9.99 monthly, with rates varying by gym location.

The chain touts rich amenities and premium equipment, with new facilities featuring EoS Smart Strength Equipment powered by EGYM for an interactive strength-training experience and ‘The Tank,’ an innovative recovery zone with assisted stretch services at select locations before a planned national rollout. Last year, EoS partnered with Power Plate to add its whole-body vibration technology to its gyms.

To appeal to Gen Z, EoS Fitness members, the fitness operator offers The Set, a dedicated space geared for content creators with custom art, fun backdrops, mood lighting and specialty playlists. While The Set has launched in select gyms, it will soon be implemented in other EoS locations.

The clubs also feature elevated fitness fare — turf functional training zones, cardio equipment, free weights, certified personal trainers and weekly group fitness and cycling classes. Select locations tout outdoor workout areas, 20-minute full-body circuit areas, basketball courts, pools, hot tubs, saunas, cryolounges and cryotherapy.

“We’re raising the bar for the fitness industry and empowering people of all fitness levels with affordable options,” EoS Fitness chief operating officer Richard Idgar has said.

Eos Fitness didn’t immediately respond to a request for comment for this article.

EoS’ potential funding comes as the HVLP fitness space is getting crowded, with fitness operators seeing the value of appealing to a wide range of fitness enthusiasts — and budgets. Operators in the U.S. like Planet Fitness, Crunch Fitness and Chuze Fitness, among others, are enjoying steady growth in locations and memberships. The low-price gym model is also resonating in the U.K. , with operators like PureGym enjoying a boom.

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