Lifetime Fitness 2013 Annual Report Download - page 8

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Our offerings also include our proprietary line of nutritional products and supplements, and our award-winning
magazine, Experience Life®. We also operate an Athletic Events division, which offers more than 100 events each
year, including running, cycling and triathlon events from entry-level to ultra-endurance. Additionally, we offer a
portfolio of health programs and assessments to members at our centers as well as employees of corporate clients,
along with partnerships with health insurance companies, with the goal of further extending our Healthy Way of Life
products, programs, services and brand.
Our corporate headquarters are located at 2902 Corporate Place, Chanhassen, Minnesota 55317, and our telephone
number is (952) 947-0000. Our principal website is lifetimefitness.com. The information contained on our websites
is not a part of this annual report.
Our History
Our Chairman, President and Chief Executive Officer, Bahram Akradi, opened the first Life Time Fitness center in
1992 with an unwavering commitment to our members and their experiences with us. From the design of our
centers, to the amenities and services we provide, to the sheer breadth of programming and events we deliver,
everything we do is driven from the member point of view. For example, our company has never required long-term
member contracts, instead preferring to offer month-to-month agreements that provide members flexibility, while
maintaining clear focus on delivering unparalleled programs and value in an effort to earn their business each and
every day.
At Life Time, our mission is clear. We provide an educational, entertaining, friendly and inviting, functional and
innovative experience that meets the health and fitness needs of the entire family. Over the course of more than two
decades, Life Time has raised the standards in the health club industry significantly while also pioneering the
creation of a new comprehensive health and wellness industry we call Healthy Way of Life. Through this, we aim to
deliver best-in-class programs that help organizations, communities and individuals achieve their total health
objectives, athletic aspirations and fitness goals by engaging in their areas of passion. Life Time is well positioned to
help them do so by providing the best programs, best people and best places to deliver exceptional experiences,
quality and value.
We were 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. We then officially changed our corporate name to Life Time Fitness, Inc.
in 1998. In 2004, we completed our initial public offering. Our stock is listed on the New York Stock Exchange
(Ticker: LTM).
Our Competitive Strengths
We offer comprehensive programs and services.
The breadth of our programs allows us to connect and engage members in their areas of passion. Unlike many
traditional health clubs or gyms, which typically offer little more than rooms with equipment, most Life Time
destinations offer an expansive selection of premium amenities and services; comprehensive programming with
dedicated spaces; a large team of certified professionals, service and operations employees; and hundreds of pieces
of best-in-class cardiovascular and resistance equipment and free-weights. Many of the premium amenities and
services are included in the standard membership dues.
We offer a value proposition that encourages membership loyalty.
The broad range of amenities, programs and services we offer exceeds that of most other health and fitness center
alternatives available to consumers. We offer different types of membership plans for individuals, couples and
families including Access and Non-Access memberships. Our Non-Access membership option is for members who
do not access the center, but still want to maintain certain member benefits. Our typical monthly Access membership
dues range from $45 to $160 per month for an individual membership and from $75 to $340 per month for a couple
or family membership. Our typical Non-Access dues are $10 to $20 per month for an individual, couple or family
membership. The majority of our memberships include the primary member’s children under the age of 12 at a