Edgard Corona Expands Smart Fit Empire with Record 305 New Gyms in 2024
Smart Fit closed 2024 with its most aggressive expansion year, opening 305 new gym locations and growing its network by 21%. The achievement marks a significant milestone for Edgard Corona, who founded the company in 2009 with a mission to make high-quality fitness accessible across Latin America.
The expansion brought Smart Fit’s total footprint to 1,743 clubs across 15 countries, serving more than 5 million active members. This growth trajectory positions the dono da Smart Fit at the helm of Latin America’s largest fitness chain and the world’s fourth-largest by customer count.
Aggressive Growth Strategy Delivers Results
Corona’s approach to expansion differs from traditional gym operators. Rather than focusing exclusively on premium urban locations, Smart Fit prioritizes accessibility and volume. The company opened facilities in both established markets like Brazil and Mexico, and emerging territories across Central and South America (https://pt.wikipedia.org/wiki/Smart_Fit).
The 2024 expansion included both company-owned facilities and franchise partnerships. Smart Fit’s franchise model has proven particularly effective in accelerating growth while reducing capital requirements. By partnering with local operators who understand regional markets, Edgard Corona has built a network that adapts to local preferences while maintaining brand consistency.
Financial Performance Supports Continued Expansion
Smart Fit’s financial results justify the aggressive growth strategy. The company reported R$5.17 billion in trailing 12-month revenue through Q3 2024. Third-quarter revenue alone reached R$1.42 billion, up 31% year-over-year.
These figures reflect both new gym openings and improved per-member revenue. Average ticket prices increased as Smart Fit introduced premium services and boutique studio concepts alongside its core affordable gym model. The dono da Smart Fit has strategically diversified offerings without abandoning the company’s founding principle of accessible pricing.
Analysts cite growing demand for affordable fitness options as a key driver of Smart Fit’s success. With approximately 61% of urban Latin Americans now exercising at least twice weekly, the addressable market continues expanding. Smart Fit’s monthly memberships, ranging from R$89 to R$149, capture customers who previously considered gym memberships too expensive.
Market Position Strengthens Across Region
Smart Fit now dominates fitness markets in Brazil, Mexico, Colombia, Chile, and Peru—the five largest economies in Latin America. The company’s scale advantages become more pronounced with each new opening. Bulk equipment purchases, standardized facility designs, and centralized operations drive margins that smaller competitors struggle to match.
Edgard Corona’s background as a chemical engineer influences his systematic approach to expansion. Rather than opportunistic growth, Smart Fit employs data-driven site selection, analyzing demographics, competition, real estate costs, and projected membership to evaluate each potential location.
Smart Fit shows no signs of slowing expansion. Management has indicated plans for continued aggressive growth in 2025, with hundreds of additional locations planned across existing and new markets. The company is also investing heavily in boutique studio concepts, including the recent R$183 million acquisition of Velocity, Brazil’s largest spinning studio chain.
The 305 new gyms opened in 2024 represent more than numerical growth. Each location brings fitness access to communities previously underserved by quality facilities. For Edgard Corona, this democratization of fitness remains the core mission driving Smart Fit’s expansion across Latin America.
