Retro Fitness Selects Boefly to Assist Its Franchisees in Obtaining Bank Financing
Leading fitness gym franchisor to offer BoeFly’s Concierge Team Services to its franchisees nationwide.
New York, NY, March 07, 2011 --(PR.com)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Retro Fitness, the leading national fitness gym franchise has selected BoeFly to assist its franchisees in obtaining bank financing.
Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders. In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
Retro Fitness is a national fitness system, offering some of the most advanced equipment and professionals at a low price.
“We at Retro Fitness offer our clients supreme service, so selecting BoeFly was a natural choice for us to support our franchisees, as they offer us the ultimate service of making the process of finding loans much simpler and faster,” said Robbie Sprechman, CFO of Retro Fitness. “BoeFly helps Retro Fitness address an important element in our growth strategy – getting franchisees access to capital – something that has been a challenge for all franchisors over the past few years.”
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital,” said Michael Rozman, President of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Retro Fitness
Founded in 2004 by entrepreneur Eric Casaburi, RetroFitness has evolved from a regional Mid-Atlantic gym concept into a national fitness system with more 100 gyms in its development pipeline. Under Casaburi's leadership, RetroFitness has grown to 70-plus gyms in 10 states. Expansion plans call for 300 gyms in the next three years and growth into new major markets such as Chicago, Dallas and Washington D.C. Each RetroFitness location is equipped with a full service fitness center including 60-100 pieces of equipment supplied by leading manufacturers such as Life Fitness and Intek. For more information, please visit www.retrofitness.net, and to learn more about franchise opportunities visit www.retrofranchising.com.
About BoeFly
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.
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Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders. In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
Retro Fitness is a national fitness system, offering some of the most advanced equipment and professionals at a low price.
“We at Retro Fitness offer our clients supreme service, so selecting BoeFly was a natural choice for us to support our franchisees, as they offer us the ultimate service of making the process of finding loans much simpler and faster,” said Robbie Sprechman, CFO of Retro Fitness. “BoeFly helps Retro Fitness address an important element in our growth strategy – getting franchisees access to capital – something that has been a challenge for all franchisors over the past few years.”
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital,” said Michael Rozman, President of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Retro Fitness
Founded in 2004 by entrepreneur Eric Casaburi, RetroFitness has evolved from a regional Mid-Atlantic gym concept into a national fitness system with more 100 gyms in its development pipeline. Under Casaburi's leadership, RetroFitness has grown to 70-plus gyms in 10 states. Expansion plans call for 300 gyms in the next three years and growth into new major markets such as Chicago, Dallas and Washington D.C. Each RetroFitness location is equipped with a full service fitness center including 60-100 pieces of equipment supplied by leading manufacturers such as Life Fitness and Intek. For more information, please visit www.retrofitness.net, and to learn more about franchise opportunities visit www.retrofranchising.com.
About BoeFly
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.
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BoeFly
Bill Fallon
212-925-6900
www.boefly.com
Bill Fallon
212-925-6900
www.boefly.com
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