9Round Finalizes Master Franchise Agreement in Ecuador
14 Feb 2019 - 9Round Franchising, LLC, confirmed this month plans for future development in the South American country of Ecuador. The master franchise agreement details development of 10 9Round locations in the country over the course of the next four years.
Following the brand’s first grand opening in Argentina at the end of 2018, Ecuador is now the second South American country to commit to 9Round development. While concrete development plans in Ecuador are still in the works, the brand is aiming for the country’s first 9Round studio to open within six months.
"The strong culture surrounding fitness in Ecuador makes expansion into this country a smart move for the 9Round brand,” said Shannon Hudson, Founder and CEO of 9Round. “Additionally, due to our previous relationship with some of the members of Ecuador’s development team, we are confident that the buildout of the brand in this new country will be a success."
9Round development in Ecuador is led by master franchisees Joseph Arocha Baier, Nicole Marcovici Scholem, William Marcovici Longaver, Carlos Balas and Gerardo Alfaro Soto, all of whom are connected with investment group Boxea Y Boxea, S.A. Balas and Alfaro Soto worked with the brand previously as part of the master franchise team behind 9Round in Costa Rica.
"Since we began expanding the 9Round brand internationally in 2014, we have grown at an accelerated rate,” said Hudson. “In addition to finalizing plans for bringing 9Round to Ecuador, the brand also has agreements signed for future development in Guatemala and Oman, with Guatemala’s first grand opening expected to occur within a month."
9Round is open and operating in a total of 17 countries to-date, excluding the three countries where development of the first 9Round locations is still in progress.