Stretch Zone Gets Princeton Equity Investment After Hitting 250-Unit Milestone

by Emilee Wentland, originally published on FranchiseTimes.com on April 7, 2023

At Stretch Zone, a practitioner-assisted stretching franchise, anyone can be a customer, Princeton Equity Group Co-founder Jim Waskovich said. Waskovich himself is a client. “Through the assisted stretch therapy, I could touch my toes again,” he said.

The private equity firm recently invested in the brand and terms weren’t disclosed. “All of the existing shareholders remain shareholders in the business and are committed to the future of the vision here,” Waskovich said.

Princeton has had its eye on Stretch Zone for a few years. The brand recently hit the 250-unit milestone, but once it hit 100 units, Princeton “started working pretty aggressively to try to take a look at an investment,” Waskovich said.

“It starts with people. We’ve got to feel like we’re backing founders and management teams that truly care about the franchisee,” he said.

Stretch Zone hired Boxwood Partners as its adviser early last year, he said.

Jorden Gold founded the brand in 2004. In 2009, the brand partnered with NBA teams and, in 2010, with NFL teams. Stretch Zone opened its first commercial store in 2015. In 2020, it hit 100 units. Last year, it hit 200.

Related: Stretch Zone Is Personal Passion for Founder Jorden Gold

The franchise focuses on increases its customers’ range of motion, rather than just flexibility. Stretch Zone’s website boasts the ability to assist with stiffness and soreness as well as work with an athlete to improve their performance. The brand is backed by former NFL quarterback Drew Brees.

Princeton invests in so-called “transformative concepts,” Waskovich said, which are brands that “often kind of create their category.” Other brands under the Princeton umbrella include Ellie Mental Health, Mosquito Shield and Bio-One.

Stretch Zone fit the bill in that regard. “We’re really in the very early innings of this industry and this company’s growth,” Waskovich said.

Then there’s the service Stretch Zone provides. “That’s really rare for us that really anyone is a potential customer,” he said. “Anyone who cares about mobility and flexibility, anyone dealing with pain.”

The initial investment required to open a Stretch Zone franchise ranges from $107,480 to $209,624. In 2021, Stretch Zone opened 44 stores, all of which are franchised. In 2021, the highest monthly sales reported were $84,366. The lowest monthly sales reported were $3,844.