The Picklr, a popular indoor pickleball franchise, has seen significant growth as it wraps up the first quarter of 2024, with a total of 276 units sold across 36 distinct franchising groups.
This expansion translates to roughly 2,760 new indoor pickleball courts slated for development by the end of Q1 2024.
The company also revealed plans to open 38 new clubs in 23 different U.S. states, alongside 52 additional leases that are nearing final negotiations for openings slated for 2024 and 2025.
In a strategic move to bolster its growth and enhance membership offerings, The Picklr has formed a partnership with Pickleball, Inc., the conglomerate behind entities such as the Carvana Professional Pickleball Association (PPA Tour), Pickleball Central, and others including PickleballTV and Pickleball.com.
Adding to its high-profile initiatives, former NFL quarterback Drew Brees was announced as the Brand Ambassador in February 2024. Brees is not just the face of the brand but also an investor and owner/area developer of 30 Picklr franchises in Indiana, Ohio and Michigan.
With an eye on global expansion, The Picklr is finalizing discussions to extend its franchise operations to three additional continents, aiming to finalize master franchise agreements in Canada, Australia, New Zealand and the European Union by Q2.
To support its rapid growth, the company has promoted Kathryn Bullough to chief marketing officer and Chris Walker to chief development officer, with Madison Walker stepping up as VP of people. Women now comprise 50% of the executive leadership team overseeing the franchisees.
On the innovation front, The Picklr has applied for five provisional patents and has secured global trademarks for its brand. Additionally, it has partnered with the Utah Black Diamonds professional pickleball team to establish the first-ever dedicated facility for a professional team, the Utah Black Diamonds Pickleball Center, located just outside Salt Lake City, Utah.
Jonathan Fornaci, President and COO of The Picklr, highlighted the company’s performance in a statement: “Q1 was a significant quarter with the franchisees delivering strong EBITDA results on average of 38% along with rapid 62% membership growth while the annual churn rate was less than 12%. These key metrics drive the success of our franchisees. All Picklr’s open with a minimum of 250 founder memberships, but year to date, the new clubs are opening in the 500-600 range, which makes the clubs’ cash flow positive from day one. The Picklr provides outstanding operations and marketing support for all franchisees, to ensure the financial success of existing and all new clubs. We are so pleased with our Q1 results, and as we push into Q2, we look forward to opening new clubs around the country.”
