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Health Club Management

Health Club Management

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Health Club Management

Health Club Management

News

Soho Gyms feels the heat from low-cost chains

Aggressive low-cost operators and political uncertainty are putting pressure on London-based fitness chain, Soho Gyms, but its new site at Tower Hill – acquired from Fitness First - is trading well.

In its latest filing to Companies House, Soho Gym's parent company, Ovalhouse Ltd, reported that turnover dipped a little to £7.9m (US$10.4m, €8.8m) in 2016, down from £8.2m (US$10.8m, €9.1m) the previous year – a fall of 3.7 per cent.

The filing said: “Budget operators (particularly Pure Gym and The Gym Group) are being aggressive with offers such as no joining fees, plus the introduction of group exercise.”

The report goes on to add “political uncertainty is not helping the consumer or staff recruitment” and that the burden of costs is increasing “in particular with rents, wages and business rates”.

Despite 2016 being a “difficult year at a few gyms, the business as a whole is still trading well,” the report said.

Soho Gyms now operates 10 studios but profits after tax dropped 24 per cent to £449,633 (US$590,991, €499,512) last year, from £589,760 (US$775,172, €655,184) in 2015.

Membership numbers were up 1.3 per cent but gym membership income was down 2.5 per cent.

Last year, the group introduced a lower price point at its Farringdon branch, which it said proved “very successful" due to the high population of workers and students in the area. A monthly membership at Farringdon costs £44.99 (US$59.1, €50), whereas at Camden it costs £69.99 (US$92, €77.8).

The group also acquired a Fitness First site in Tower Hill, which has undergone refurbishment, helping numbers rise from “a low 700 members, well into four figures”. Tower Hill uses a similar pricing structure to the Farringdon site.

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Aggressive low-cost operators and political uncertainty are putting pressure on London- based fitness chain, Soho Gyms, but its new site at Tower Hill – acquired from Fitness First - is trading well.
HAF
Membership numbers at Soho Gym were up but gym membership income was down
Perfect Gym Solutions SA.
Perfect Gym Solutions SA.

News

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Perfect Gym Solutions SA.
Perfect Gym Solutions SA.
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Features
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I wanted to learn a skill – as an adult you don’t often get the chance to master something new. We called it a school, because we’re all learning all the time - David Jackson
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The IHRSA European Congress, which takes place next month in Lisbon, Portugal, is a must-attend, must-experience event for industry leaders doing business in Europe says IHRSA’s Kristen Walsh
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Supplier showcase
GoCardless & Speedflex
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people
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people
We’re offering members the convenience of having a workout and a chance to shop in a lively, welcoming environment
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people
The ultimate goal of WHO’s Global Action Plan on Physical Activity is a 15 per cent reduction in the global prevalence of inactivity by 2030
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people
Performance is about how you truly ignite a human being, so they want to eat well, have self-discipline and exercise and can find the motivation by focusing on the outcomes they want
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People profile
Aerial is tough initially, but people get addicted because of the results they see and because it makes you completely switch off
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There’s no doubt in my mind that training outdoors is a huge mood booster, and a better mood will always result in a better workout
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Our large-format clubs require a high population density, so we created a small box model at 5,000 - 8,000sq ft to create a vibrant, friendly, local gym concept - Francine Davis
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I want to build a social lifestyle brand that combines music and wellness to create something that inspires people. I want to change the way people think of working out, so it’s like going to a club or a concert
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Catalogue Gallery
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Featured suppliers
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Video Gallery
Welcome to Active IQ
Active IQ
Active IQ is an awarding organisation recognised and regulated by Ofqual within the Active Leisure sector designing qualifications that support clear career pathways. Read more
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Company profiles
Company profile: EXF Fitness
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Company profile: Taylor Made Designs
Taylor Made Designs (TMD) supplies all manner of uniform, workwear, performance clothing, PPE and branded ...
Directory
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Spa software
SpaBooker: Spa software
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Skincare
Clarins: Skincare
Member access schemes
Move GB: Member access schemes
Locking solutions
Ojmar: Locking solutions
Clothing/promotional merchandise
Taylor Made Designs: Clothing/promotional merchandise
Computer solutions
SportSoft UK Ltd: Computer solutions
Fitness equipment
Dyaco International: Fitness equipment
Flooring
Gerflor Ltd: Flooring
Property & Tenders
White Rocks, Hastings
GVA
Property & Tenders
Diary dates
22-23 Sep 2018
Worldwide,
Diary dates
24-27 Sep 2018
Omni La Costa Resort & Spa, Carlsbad, United States
Diary dates
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