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Lifetime Fitness

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Lifetime Fitness

Life Time Fitness is a chain of mega-fitness centers (or health clubs)operating in the United States and Canada, based out of Chanhassen, Minnesota. Many of its large high-end facilities operate 24/7 and feature personal fitness instruction, salons, food courts, large child centers, and indoor/outdoor pools.



History

In 1992, Chairman and Chief Executive Officer, Bahram Akradi, founded Life Time Fitness and has been a director since its origin.[1] The Company was incorporated in 1990 as a Minnesota corporation under the name FCA, Ltd., and subsequently registered to use the name of Life Time Fitness in 1992.[2] The first club opened in Brooklyn Park, Minnesota. [3] Several locations were added to the Minneapolis–St. Paul area before the chain expanded to suburban and exurban communities in other metropolitan areas across several states. Most Life Time Fitness centers are located in exurban or fringe suburban areas in medium to large-sized metropolitan areas, with a handful of locations in central city or inner suburban areas. The oldest Life Time facility is in Eagan, Minnesota.

Facilities and Amenities

Life Time fitness's large multi-level facilities have locker rooms and common areas that are typically outfitted with high-end materials, many utilizing natural stone giving members a high end experience. Life Time also provides its members with an in-club daycare option called the Child Center at many of its locations. Children ages 3 months to 11 years are permitted to be in the Child Center for up to 2 hours at a time while their parent or guardian is in the club. In most clubs, the Child Center includes an infant room with age appropriate toys and play structures, including swings and exersaucers, a large playroom for older children, a large indoor play structure that includes slides, and an outdoor playground with a sandbox. The child center is staffed with a ratio of 1:11 for the older children and 1:4 for infants under 1 year.[4]

Controversies

Several employees of Life Time Fitness took the firm to court regarding a matter of wage withholding during the year 2004.[5] In 2009, a court ruled their favor in the case of Baden-Winterwood v. Life Time Fitness Inc., with a judgment that employees must be paid in accordance with federal and state wage-and-hour laws which require overtime pay for hours worked in excess of 40 in a workweek.[6]

References

External links

  • LTM NYSE stock symbol
  • Life Time Fitness Website
  • The Healthy Way of Life: The Official Blog of Life Time
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