HispanicBusiness

Brothers Angel and Willy Banos currently own Gold's Gym locations in Hollywood, North Hollywood, and Downtown Los Angeles. By combining their strong retail background with an emphasis on detail, they have succeeded in propelling themselves to the top of the industry.

More than ten years ago, the Banos brothers acquired the rights to their first Gold's Gym, in North Hollywood. In their first year of operation, they were selected as Rookie of the Year –- an honor bestowed by Gold's Gym Enterprises, which comprises 550 gyms worldwide, on gym owners who have had significant success in their first year of business.

In the following year, the brothers acquired their second Gold's Gym location, in the heart of Hollywood. The gym opened in May 1991 to rave reviews. Catering to Hollywood's elite, the Hollywood location is frequented by such celebrities as Leonardo DiCaprio, Morgan Freeman, and Jennifer Lopez.

The 23,000-square-foot club has annual revenues of $4.2 million, with profits running about 24%. At last year's Gold's Gym convention, the brothers were chosen for Licensee of the Year and Gym of the Year awards and won the Outstanding Interior, Publicity, and Group Exercise honors.

The Cuban entrepreneurs attribute much of their success to their extensive background in the retail industry. In 1987, Angel, who now serves as CEO, recognized the potential of applying retail strategies to the health and fitness business. Selling their chain of high-end shoe stores, the brothers entered the industry with fresh concepts that translated into rapid business success.

The brothers' retail orientation infuses every aspect of their gyms -- the variety and quality of the equipment, the visual presentation of the facility, the appealing environment, and the availability of a wide range of products for gym-goers. From 1999 to 2000, retail sales in the shop jumped from $4,224 to more than $15,000.

In November, the Banos brothers will celebrate the opening of their third venture -- Gold's Gym Downtown Los Angeles, in the heart of the city's high-rise district. The gym will target the corporate crowd, offering spa services, an Olympic-size pool, golf practice area, child care services, car wash and detailing, and dry cleaning services, among other amenities.

Angel and Willy Banos have graced the cover of a number of health and fitness magazines, including CBI. Their gyms have been featured in such magazines as Shape, Oxygen, Muscle & Fitness, and Iron Man. Their gyms also have been featured on entertainment news shows such as Extra, Entertainment Tonight, and E!Entertainment Television.