Two of the northshore’s most recognizable fitness brands are stepping into a new chapter together, as Franco’s Health Club and Spa and Cross Gates Family Fitness enter a strategic partnership that brings their management under one umbrella while keeping both club names — and ownership — local.

Under the new arrangement, the ownership team behind Cross Gates Family Fitness in Slidell will assume management of Franco’s facilities in Mandeville and New Orleans. Cross Gates, founded in 1981 and long established as a powerhouse on the eastern side of St. Tammany Parish, operates three locations in the Slidell area. Franco’s, meanwhile, has spent nearly four decades as a landmark on the western side, anchored by its 80,000-square-foot flagship club on 10 acres off Louisiana 22.

“We’re going to be leading both operations,” said Nate Welch, who co-owns Cross Gates with his uncle, Larry Welch. Between the five locations, the combined footprint now serves around 30,000 members and employs more than 400 people — a scale that gives the partnership significant influence in the northshore fitness market.

Welch described the deal as a strategic partnership rather than a takeover, declining to go into financial details. What he emphasized instead was continuity: both Franco’s and Cross Gates will keep their own names, brands, and community identities. For longtime Franco’s members, he stressed, this is meant to be an evolution, not an erasure.

That point was underscored in a news release announcing the move, which noted that Ron and Sandy Franco — who built Franco’s over the past 37 years — will remain actively involved. They will continue to help steer the brand and uphold the club’s longstanding commitment to members, staff, and the wider community. According to Welch, the relationship between the two families goes back years, making this partnership feel less like a cold business transaction and more like a natural extension of an existing friendship.

“Franco’s is an institution,” Welch said, explaining why preserving the name and legacy was non-negotiable. For decades, Franco’s has been woven into the fabric of western St. Tammany life, not only as a workout destination but as a community hub. Its signature Iceman Dip & Dash — a bracing New Year’s Day run along La. 22 capped off with a swim across the chilly Tchefuncte River before heading back to the club — has become one of the area’s most distinctive fitness traditions.

The partnership also comes with tangible promises for current and future members. Welch said the group is planning a multimillion-dollar renovation and expansion focused on both Franco’s locations. Those upgrades will range from cosmetic improvements inside the buildings to enhancements on the fitness floor and work on pickleball courts — a nod to the rapidly growing popularity of the sport. Additional projects are expected to be announced later, suggesting that this is just the first phase of a broader reinvestment strategy.

For now, Welch said members shouldn’t expect any immediate changes to their memberships. That stability is deliberate: in a region where many residents have deep, longstanding ties to their home clubs, sudden shifts to pricing or policies could trigger backlash. Instead, the new leadership seems intent on building trust by improving facilities first and adjusting the business model, if needed, more gradually.

The timing of the move is noteworthy. The northshore fitness landscape has become increasingly competitive as national chains push into the market. Pelican Athletic Club in Mandeville was recently acquired by Kansas-based Genesis Health Clubs, signaling that large, out-of-state operators see opportunity in the area. Meanwhile, Crunch Fitness has planted a flag in Mandeville, and Planet Fitness now operates in both Slidell and Covington, offering low-cost memberships that appeal to price-sensitive gym-goers.

In that context, the Franco’s–Cross Gates partnership looks like a strategic response from two homegrown players seeking to hold their ground and grow without ceding control to national brands. Instead of selling outright to an outside company, Franco’s ownership chose to align with another local operator that shares its regional roots and community focus. The combined organization now effectively brackets St. Tammany Parish, with Cross Gates dominating the east and Franco’s anchoring the west.

Asked whether the deal was motivated by rising competition or a desire to expand westward, Welch kept his answer broad but positive. He said that the clubs have always had connections with one another and that he views other gyms — even national chains — less as enemies and more as partners in promoting healthier lifestyles. “I’m cheering everyone on,” he said, adding that he believes strongly in the industry as a whole.

Still, the reality is that scale, brand recognition, and capital for renovations matter in a market where consumers have more options than ever. By pooling management and planning a hefty round of upgrades, the Franco’s–Cross Gates alliance positions itself as the northshore’s largest locally owned fitness network — an identity that could resonate with members who prefer staying loyal to regional businesses rather than sending their dollars to corporate headquarters in another state.

For now, members at both brands can expect familiar faces at the front desk and on the fitness floor, with gradual improvements rolling out over time. Behind the scenes, though, the partnership marks a significant reshaping of the local fitness landscape. It aligns two long-standing institutions under shared leadership while preserving the names, stories, and community quirks that made them successful in the first place.

“I love this mission of being locally owned and operated,” Welch said. If the renovations and member experience live up to that sentiment, the move could strengthen both Franco’s and Cross Gates at a moment when staying independent — and competitive — is getting harder to do.

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Buying a second home is an exciting financial milestone — whether it’s a lakeside getaway, a mountain cabin, or an investment property meant to generate steady income. But in today’s housing climate, far fewer buyers are choosing to finance those purchases with mortgages. According to Redfin, just 86,604 mortgages were issued for second homes in 2024, the lowest number since 2018 and a sharp drop from the peak of more than 258,000 in 2021.

That decline is partly driven by higher interest rates, which have discouraged many from borrowing altogether. Instead, an increasing number of well-capitalized buyers are paying cash — a move that speeds up the buying process and appeals to sellers eager for quick, secure deals. But for others, tying up that much liquidity can feel risky, especially in an uncertain economy. The key question is whether it’s smarter to pay cash for your second home or finance it with a mortgage — and the answer depends on your financial goals, tax situation, and appetite for flexibility.

Paying Cash: Speed, Savings, and Simplicity

For buyers who can afford it, paying cash offers an undeniable sense of freedom. According to the National Association of Realtors (NAR), about 28% of all home sales last summer were all-cash transactions, and roughly 16% of those involved second homes. Even as that share slipped slightly to 25% by year’s end, cash deals remain a significant force in the market.

The advantages are clear: no interest, no lender fees, and no waiting for underwriting or appraisals. Paying in full can save tens or even hundreds of thousands in financing costs over time. For example, a $400,000 second home purchased with a 6.5% mortgage would cost roughly $819,000 over 30 years — with more than half of that total going toward interest. Paying cash avoids that entirely.

Cash buyers also enjoy negotiation power. Sellers are often more willing to lower their price or accept a cash offer quickly since it removes financing uncertainty. The closing process is faster, and owning the property outright offers immediate peace of mind.

However, paying cash has trade-offs. It can significantly deplete savings, leaving little room for unexpected expenses such as repairs, taxes, or medical emergencies. It also eliminates potential tax deductions — second-home mortgage interest is deductible within certain limits, an advantage you forgo with a cash purchase. And while owning the home outright builds equity instantly, it ties up funds that might otherwise earn higher returns in the market or other investments.

Using a Mortgage: Flexibility and Financial Balance

For buyers who prefer to maintain liquidity, financing a second home with a mortgage can be the more strategic route. Even with rates in the 6% range, borrowing preserves capital for other priorities — such as renovations, investment opportunities, or simply maintaining a healthy emergency fund.

Mortgages also come with tax benefits. Homeowners can deduct mortgage interest payments up to IRS limits, which can offset some of the costs of borrowing. A second loan can also enhance credit strength over time, as consistent on-time payments demonstrate reliability to future lenders.

Still, there are drawbacks. Taking out a mortgage means committing to years of interest payments and monthly obligations — something that can strain finances if you’re still paying off your primary residence. Closing can also take longer and involve more paperwork, appraisals, and fees, from loan origination to underwriting.

Choosing the Right Path

The decision ultimately comes down to your financial picture and comfort with liquidity. If you have ample savings and want to avoid debt, a cash purchase offers clarity, savings, and immediate ownership. But if you prefer to keep more flexibility, benefit from tax deductions, and maintain access to your funds, financing your second home could be the wiser move — even if it means paying interest over time.

Experts often recommend a hybrid approach: put down a large cash payment to reduce the loan amount while retaining some reserves. This balances both advantages — smaller monthly payments and greater financial security.

Whether you opt for cash or credit, buying a second home is a major decision that should align with your long-term goals. Take time to assess your finances, explore lender options, and weigh how much liquidity you’re comfortable parting with. A dream home should offer freedom and enjoyment — not financial stress.

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