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Wednesday
Sep172014

Formula to increase locations by more than 50 percent

Fórmula, a Brazilian chain, will open 16 new sites in the country this year, bringing its total to 42 units - 25 of them company-owned, and 17 franchised.

The company currently has a presence in Cuiabá, Feira de Santana (in the state of Bahia); Florianópolis, Londrina (in the state of Paraná); Rio de Janeiro; Salvador; Santa Catarina; and São Paulo (where it has two sites and intends to open three more).

Fórmula facilities range in size from 4,300 to 8,600 square feet, and charge an average monthly membership fee of $58. The company plans to continue expanding by opening both company-owned and franchised units. Last year, Fórmula generated $150 million in revenues, and, this year, expects to hit $195 million.

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