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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
SportSoft UK Ltd
SportSoft UK Ltd

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1 - 15 of 10,385
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Soho House has opened one of the most high-end gyms in London. Kath Hudson finds out more
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Allegra Strategies has researched the UK fitness market for a new report. Analyst Leonor Stanton reviews it exclusively for HCM
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Opinion: Retention Academy 2018: Helping operators improve the customer experience
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Company profile: Matrix Fitness
At Matrix Fitness, our goal is to make innovative commercial fitness equipment that stands out ...
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Directory
Locking solutions
Ojmar: Locking solutions
Exercise equipment
EXF Fitness Equipment: Exercise equipment
Audio visual
Lightmasters UK Ltd: Audio visual
Flooring
Rephouse: Flooring
Furniture suppliers
AJ Products: Furniture suppliers
Retail solutions
Swimrite Supplies Ltd / SRS Leisure: Retail solutions
Fitness equipment
Dyaco International: Fitness equipment
Architects/designers
Zynk Design Consultants: Architects/designers
Lockers
Crown Sports Lockers: Lockers
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Property & Tenders
White Rocks, Hastings
GVA
Property & Tenders
Gravesham Borough Council
Property & Tenders
Diary dates
28 Aug - 01 Sep 2018
tbc, Sao Paulo, Brazil
Diary dates
22-23 Sep 2018
Worldwide,
Diary dates
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