Vancouver's Fitness World has strengthened its core and is building muscle following weakness during the pandemic.
The venture previously known as Steve Nash Fitness World was mired in insolvency proceedings in the early days of the pandemic, when it was forced to close its gyms. The company at the time owed more than $44 million to creditors.
The company told BIV in an email this morning that it has seen "exceptional growth since 2020, when new ownership stepped in."
It today described president and CEO Chris Smith as an owner. He was also president and CEO of Steve Nash Fitness World between March 2018 and the company's July 2020 demise.
"The journey has been transformative, marked by strategic expansion, groundbreaking programs, substantial investments, and a steadfast commitment to community support, establishing Fitness World as a staple local gym in the community," the company said in an email.
It added that it has invested $6.8 million in equipment and gym upgrades. Its membership now exceeds 80,000 people, up from 50,000 in 2020, according to the company that counts more than 600 employees.
Some of the membership growth may have come from Fitness World donating free memberships to charitable organizations such as Covenant House, Downtown Eastside Women's Centre, individual members and Indigenous organizations.
Fitness World in summer 2020 reopened 15 gyms across Metro Vancouver and Victoria, and soon became profitable, according to the company. It opened two more Fitness World locations in 2022 and then unveiled a new brand, TRAIN by Fitness World, earlier this year with a location on Main Street between East 32nd and East 33rd avenues. Its website now lists 17 locations, including the TRAIN by Fitness World gym.
"We have big plans next year to build on this momentum and continue to bring the most accessible and equitable fitness experience to all," Smith said in a statement.
One perk for members is that in some gyms there is a child-minding service.
"Since 2022, Fitness World has serviced over 2,500 hours of childminding across six of their locations, further reducing the barrier to entry for families and parents on their fitness journey," the company said.
News in 2020 that Fitness World has dropped the Steve Nash name likely came as a relief to eight-time NBA all-star, and Naismith Memorial Basketball Hall of Fame inductee Steve Nash, who was not available when BIV tried to get his thoughts on the name change.
Nash, along with partners Mark Mastrov and Leonard Schlemm, in December 2009, purchased Fitness World – a 13-gym chain that owner Henry Polessky founded in 1978.
Nash later sold his shares to those partners, who also sold the shares. Nash was later stuck in an agreement that said his name could be in the corporate brand. He had a falling out with Steve Nash Fitness World operatives and launched a lawsuit for breach of contract in October 2016, aiming to remove his name from the enterprise. That lawsuit dragged on for years before Nash finally lost.
Nash, who grew up in B.C., then reached an agreement with Steve Nash Fitness World, and, in September 2019, joined the company’s board of directors.
