Additional Resources Will Help Franchise Expand Nationally
Princeton Equity Group has invested in Stretch Zone, a franchise that provides stretch therapy services. The private equity funding from Princeton Equity Group will support the growth of Stretch Zone franchises and will help the brand expand the clientele of its practitioner-assisted services.
In announcing the deal, Jim Waskovich, co-founder and managing partner of Princeton Equity Group complimented its “talented management team.” He pointed out that while growing steadily, Stretch Zone has “instilled a phenomenal culture throughout its franchisee base. … We’re looking forward to this next chapter of the company’s trajectory, preserving its core values and continuing to drive positive change for its client base.”
Background of Stretch Zone
Florida-based Stretch Zone was founded in 2004 by Jorden Gold, who designed a patented strapping system for practitioner-assisted stretch therapy. For several years after the advent of Gold’s breakthrough, Stretch Zone worked with professional athletes (retired NFL quarterback Drew Brees owns a Stretch Zone franchise and several other franchises), sports organizations, and top spas and resorts to advance its proof of concept. Stretch Zone opened its first corporate location in 2015 and followed with its initial franchise site in 2017.
In a news release about the teaming with Princeton Equity Group, Gold remarked that ”stretching has always been a personal passion of mine, and it’s heartwarming to know that Stretch Zone has provided such a key wellness service for people of all ages.”
Stretch Zone CEO Will Stay On
CEO Tony Zaccario has nurtured Stretch Zone’s fast-paced growth. The company opened its 200th location in 2022 and is on track to exceed 250 locations this year. Zaccario and his team will remain in their current roles as they continue building the franchise.
Zaccario said in the news release that “an immense amount of passion and purpose has driven this brand to the remarkable growth it has accomplished so far.” He added that “we look forward to keeping the client and franchisee experience a top priority.”
Role of Princeton Equity Group
Zaccario also said he’s confident that support from Princeton Equity Group will exert a positive force on the Stretch Zone franchise. “We are excited to have partners that are aligned with our vision and culture,” the CEO said. “Together, we will continue to bring opportunities to entrepreneurs and wellness services to clients.”
New Jersey-based Princeton Equity Group invests in franchisors and other multi-unit companies in the United States. Princeton Equity leaders have stated that they take long-term stakes in companies and support the businesses’ founders and management teams in increasing the values of the enterprises.