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Health Club Management

Health Club Management

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Health Club Management

Health Club Management

News

Virgin Active co-founder receives investment boost to roll-out Sweat! gyms

We set-up Sweat! because we felt that the budget gym sector lacked a fresh, fun and safe environment for women
– Frank Reed, chief executive, Sweat!

Frank Reed’s gym chain Sweat! has received £3.75m (US$5m, €4.2m) worth of equity investment that will see a roll-out of five new clubs in the next 12 months – doubling its portfolio of sites.

The deal with Puma Investments includes an option for a further equity investment of up to £2.5m (US$3.4m, €2.8m) after 12 months.

Since launching at the end of 2013, Sweat! has focused on attracting female customers.

Sweat! says it has 600 to 800 visits to each of its five gyms every day and a customer base that is 55 per cent female, with most women attending two to three times per week on average.

Welcoming the investment from Puma, Reed, who co-founded Virgin Active in 1997, said: “We set-up Sweat! because we felt the budget gym sector lacked a fresh, fun and safe environment for women.

"Sweat! appeals to both men and women who want to feel more comfortable about going to the gym."

Puma Investments chief executive David Kaye added: “Sweat! is an exciting business with an innovative approach to its market and we're delighted to be investing in its future growth.”

In October, Sweat! agreed a partnership deal with Debenhams to trial gyms at three of its department stores from early 2018.

In October the chain opened its fifth standalone gym in Chelmsford, adding to existing sites in Walsall, Sheffield, Glasgow and Greater Manchester.

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Frank Reed’s gym chain Sweat! has received £3.75m (US$5m, €4.2m) worth of equity investment that will see a roll-out of five new clubs in the next 12 months – doubling its portfolio of sites.
HAF
Sweat! launched at the end of 2013
Focus Training
Focus Training

News

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Focus Training
1 - 15 of 10,491
Features
Report
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Supplier showcase
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Calisthenics: is it just for hardmen, or is it an alternative activity that could appeal to your crossfitters or those in your free weights area? Kath Hudson reports
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Scientists believe floatation therapy could be a shortcut to meditation and much more than just a relaxation amenity for health clubs. Niamh Madigan dives in to find out more
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Tech
Body composition analysers are an excellent way to differentiate your club, as well as help your members get results. Kath Hudson reports
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Cycling
A new age of indoor cycling is upon us, characterised by a more diverse range of bikes and consumers. Steph Eaves breaks down the options in this two-part series
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Catalogue Gallery
Click on a catalogue to view it online
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Company profiles
Company profile: DFC
DFC
At DFC, we offer totally transparent revenue management solutions, with clear pricing and no hidden ...
Company profiles
Company profile: Rephouse Europa Ltd
Rephouse is a leading manufacturer of high-performance fitness flooring systems. With its state-of-the-art production technology ...
Directory
Direct debit solutions
Debit Finance Collections: Direct debit solutions
Lockers
Safe Space Lockers Ltd: Lockers
Trade associations
International SPA Association - iSPA: Trade associations
Flooring
Total Vibration Solutions Ltd: Flooring
Clothing/promotional merchandise
Taylor Made Designs: Clothing/promotional merchandise
Member access schemes
Move GB: Member access schemes
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Exercise equipment
Jordan Freeweights: Exercise equipment
Skincare
The Tides Wellness: Skincare
Spa software
SpaBooker: Spa software
Property & Tenders
White Rocks, Hastings
GVA
Property & Tenders
Gravesham Borough Council
Property & Tenders
Diary dates
31 Oct - 01 Nov 2018
NEC, Birmingham, United Kingdom
Diary dates
27-27 Nov 2018
Harrogate Convention Centre, Harrogate, United Kingdom
Diary dates
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