CUSTOMER STORY


How Omega Fitness Abstracted 74 Leases For Free, using Cakebot
How the second largest Anytime Fitness operator manages their real estate leases.
Background
Omega Fitness, a thriving Anytime Fitness franchisee, encountered challenges managing leases across 74 locations following a company acquistion. Bob Folsom, overseeing Real Estate and lease management, grappled with manual consolidation, scattered documentation, and the absence of a centralized database. This case study explores how Omega Fitness addressed these issues with Leasecake’s free AI abstraction tool, Cakebot.
Omega Fitness is the second largest Anytime Fitness platform in the U.S. with nearly 70 gyms in the United States.
With nearly 70 gyms across Wisconsin, California, and Florida, Omega is operated by proven leaders in the Anytime Fitness franchisee space, and was recently acquired by Rainer Partners.
Challenges
After an acquisition, Omega Fitness faced complexities in consolidating real estate records and leases across 74 locations. The absence of a centralized database made tracking leases, especially with the expanded reach, an overwhelming task. Over half of the leases lacked organized documentation, stored inconsistently on Google Drive or as scattered scanned PDFs. Extracting critical lease information became intricate due to diverse lease structures and varying documentation levels.
The urgency to consolidate and manage leases became apparent as Omega Fitness aimed to close 50 new deals within the year. Additionally, there was a pressing need to get organized and start on the right foot after the company M&A. The lack of a centralized system hindered collaboration and decision-making, impacting the business’s overall growth strategy. Upon comparing available technologies, Bob found Leascake’s Lease Management platform to be the only consolidated, affordable solution designed specifically for service-retail and franchise operators to tackle a situation like this.
"We were ambitious in trying to get this project done in a few weeks. We were actually able to pull it off in a few days instead, using Cakebot."
Bob Folsom
Director of Real Estate, Omega Fitness
Solution
Omega Fitness solved its challenges by utilizing Leasecake’s Cakebot – a free, user-friendly AI abstraction tool, included in their Lease Management platform. Cakebot simplified the abstraction process, enabling Omega Fitness to abstract, load leases, and centralize their database faster and more cost-effectively than other options. The tool’s efficiency in extracting lease details, including commencement dates and key terms, was noteworthy.
Cakebot’s capability to read scanned PDFs and other spreadsheets allowed it to gather essential information for Bob and his team. This included property addresses, landlord contact information, CAM responsibilities, and much more. Cakebot presented this information, enabling Bob to effortlessly input each location into Leasecake with all the relevant details. Consequently, the entire team could use Leasecake to easily search, verify, and interpret lease information across their entire portfolio.

Results
1
Rapid Lease Extraction
Cakebot enabled Bob Folsom to extract 74 leases in just days, reducing a task initially estimated at four weeks to a week and a half, saving both time and outsourcing costs.
2
Efficiency and Usability
Once familiar with Cakebot, Bob could abstract leases with the required information in under 5 minutes, showcasing the tool’s intuitive and swift functionality.
3
Enhanced Lease Management
Beyond abstraction, Leasecake supports Omega Fitness by improving lease accessibility, tracking historical data, and enabling informed negotiations during renewals.
Leasecake is a top rated solution
G2 is an independent review site where real users rate software. Since 2019, we’ve been highly rated, earning badges that showcase our value and customer satisfaction.













Their Success Started Here.
Yours Can Too.
Let’s turn your lease headaches into automated solutions.