In addition to this acquisition, the company outlined its retail expansion plans for the second and third quarter which include nine new store openings and the conversions of two independent running specialty stores to Fleet Feet Sports franchises.
The company will open six new franchises in May and June: Fort Mill, SC; Decatur, IL; Plattsburgh, NY; Scottsdale, AZ; Richmond, VA; and Des Moines, IA.
Fleet Feet Sports Development Company will also open new locations in Cincinnati, OH, Asheville, NC and Longmeadow, MA. Longmeadow is a suburb of Springfield and will be the company’s first store in Massachusetts. These stores will be part of the company’s Operating Partner Program – a unique employee-to-owner program that provides the opportunity for elite retail employees to build a new business from the ground up, gain equity, and ultimately buy the store and become a franchise business owner.
In addition to new store openings, two independent running store owners will convert their stores to Fleet Feet Sports franchises. Both of these conversions are planned for July and details will be announced at a later date. They will join the franchise system to access additional tools and support provided by the Fleet Feet Sports team to help them meet their goals for growth.
“We are hitting on all cylinders right now in terms of driving brand growth through expansion of our retail footprint,” said Fleet Feet President and CEO, Jeff Phillips. “Our position within the specialty running channel is unique because we have developed so many ways to grow: new franchisees, existing franchisees opening multiple locations, company stores, acquisitions, and independent conversions – all strategies that align with our locally owned and operated model.”
Fleet Feet, Incorporated has 123 locations in 35 states and the District of Columbia.
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