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Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Exclusive: Latest 1Rebel crowdfunding round values chain at £10m

Boutique fitness chain 1Rebel has launched a new £1.5m round of crowdfunding to fuel expansion – an offering which values the current business at £10m.

Having launched two studios in London this year, 1Rebel plans to continue this rate of expansion over the next four years, with a view to reaching 10 sites in 2019.

The business hopes to raise £1.5m from investors via Crowdcube – the same crowdfunding platform which helped 1Rebel attract £1.5m of equity last summer at a pre-money valuation of £3m. Eighteen months on, investor appetite doesn’t appear to have weakened, with nearly half of the target raised within the first three days of the listing, which runs until 9 December.

In addition to the crowdfunding round, 1Rebel also plans to issue a £1m convertible debt "in the near term" to raise a total of £2.5m. This money will be used for day-to-day costs of running current and future clubs, as well as to cover capital expenditure in opening new clubs – mainly equipment and leasehold improvements.

As a result of the latest funding round, it is understood that current investors’ stakes in the company will dilute proportionally to the amount raised. 1Rebel co-founder James Balfour has been fielding potential investors’ queries on Crowdcube and said despite the dilution, shares bought for £1 last summer are now worth £2.19.

Explaining the £10m valuation on the Crowdcube forum, Balfour said 1Rebel expects its first two sites to earn £800-900k EBITDA each at maturity, on which a 10x multiple would see the business valued at £14m when head office costs have been subtracted.

Balfour said that the £10m figure therefore “represents a discount to expected forward valuation” and pointed out that the current boom around fitness is seeing brands valued at far higher multiples.

“I think an important point to mention is how the multiples have changed in the current climate,” Balfour added.

“Soul Cycle is IPO'ing at 20x forward EBITDA and is expected to have a US$1bn valuation on just 36 clubs. Closer to home, The Gym Group is IPO'ing at 17x forward EBITDA.”

To read an interview with the team behind 1Rebel, from the February edition of Health Club Management, click here.

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Boutique fitness chain 1Rebel has launched a new £1.5m round of crowdfunding to fuel expansion – an offering which values the current business at £10m.
HAF,FIT,IND,PHR
33380_365823.jpg
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Jo Smallwood

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Aaron Smith

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‘KX’ stands for ‘the Kaizen Experience’, which means ‘change for the better’ in Japanese. It’s a philosophy that focuses on continuous improvement. We’re always seeking to improve, not only as a company but as individuals
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We see ourselves as a truly European player. We’re analysing France, Germany, Italy and the UK for development
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17-23 Oct 2020
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27-30 Oct 2020
Messe Stuttgart, Germany
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27-28 Nov 2020
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News

Exclusive: Latest 1Rebel crowdfunding round values chain at £10m

Boutique fitness chain 1Rebel has launched a new £1.5m round of crowdfunding to fuel expansion – an offering which values the current business at £10m.

Having launched two studios in London this year, 1Rebel plans to continue this rate of expansion over the next four years, with a view to reaching 10 sites in 2019.

The business hopes to raise £1.5m from investors via Crowdcube – the same crowdfunding platform which helped 1Rebel attract £1.5m of equity last summer at a pre-money valuation of £3m. Eighteen months on, investor appetite doesn’t appear to have weakened, with nearly half of the target raised within the first three days of the listing, which runs until 9 December.

In addition to the crowdfunding round, 1Rebel also plans to issue a £1m convertible debt "in the near term" to raise a total of £2.5m. This money will be used for day-to-day costs of running current and future clubs, as well as to cover capital expenditure in opening new clubs – mainly equipment and leasehold improvements.

As a result of the latest funding round, it is understood that current investors’ stakes in the company will dilute proportionally to the amount raised. 1Rebel co-founder James Balfour has been fielding potential investors’ queries on Crowdcube and said despite the dilution, shares bought for £1 last summer are now worth £2.19.

Explaining the £10m valuation on the Crowdcube forum, Balfour said 1Rebel expects its first two sites to earn £800-900k EBITDA each at maturity, on which a 10x multiple would see the business valued at £14m when head office costs have been subtracted.

Balfour said that the £10m figure therefore “represents a discount to expected forward valuation” and pointed out that the current boom around fitness is seeing brands valued at far higher multiples.

“I think an important point to mention is how the multiples have changed in the current climate,” Balfour added.

“Soul Cycle is IPO'ing at 20x forward EBITDA and is expected to have a US$1bn valuation on just 36 clubs. Closer to home, The Gym Group is IPO'ing at 17x forward EBITDA.”

To read an interview with the team behind 1Rebel, from the February edition of Health Club Management, click here.

Sign up for FREE ezines & magazines
Boutique fitness chain 1Rebel has launched a new £1.5m round of crowdfunding to fuel expansion – an offering which values the current business at £10m.
HAF,FIT,IND,PHR
33380_365823.jpg

News

ukactive has announced that Active Uprising and the National Summit are going digital as part
Industry body ukactive has today (1 July) hosted a delegation of government and public health
Health and fitness company Ingesport – which operates the GO fit chain of gyms in
Mountainside Fitness in Arizona has filed a lawsuit against state's governor, Doug Ducey, after he
Physical activity levels in England have continued to fall from those recorded at the initial
Franchise operator Club Pilates has shown that there is growing confidence in the US fitness
EMD UK
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Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a
Gymbox has broken ranks and announced it will reopen all its gyms on 4 July,
Stretching and fitness chain Topstretching has opened a large gym and studio on Palm Jumeirah
Gyms and health clubs in Northern Ireland have been given the green light to reopen
A large-scale academic study has concluded that there is "no threat of increased COVID-19 spread"
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Features
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Features
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Features
Opinion
The over-70s were treated as one homogenous group during the lockdown and advised to shield. Colin Milner, founder and CEO of the International Council on Active Aging says this is leading to an increase in ageism that the industry must fight to overcome
Features
Statistics
More than 65,000 people responded to a survey designed to gauge what members want and expect from the sector after lockdown, as Leisure-net’s Dave Monkhouse reports
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David Lloyd Leisure has launched a raft of outdoor classes, including an enhanced role for its Battlebox concept, as Liz Terry reports
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People
HCM people

Jo Smallwood

general manager, Oldham Leisure Centre
We saw the opportunity to initiate new partnerships with the Oldham Foodbank to help local residents during the COVID-19 crisis. We can’t serve our community in the way we would usually do, so we’ve moved resources to help where people need us most
People
HCM people

Aaron Smith

Founder, KX Pilates
‘KX’ stands for ‘the Kaizen Experience’, which means ‘change for the better’ in Japanese. It’s a philosophy that focuses on continuous improvement. We’re always seeking to improve, not only as a company but as individuals
People
We see ourselves as a truly European player. We’re analysing France, Germany, Italy and the UK for development
People
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Ben Lucas

Founder, Flow Athletic, Sydney
We advise our Flow Athletes to complete classes at a ratio of one yoga class to one strength class to one cardio class. This combination has very positive effects
People
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Dr Jonathan Leary

Remedy Place, West Hollywood: Founder and CEO
Remedy Place teaches people how to take care of themselves and gives them the tools they need to be holistically healthy
People
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Michael Ramsay

Founder and director, STRONG Rowformer
There’s something about the combination of fast-twitch and slow-twitch fibres working together that absolutely destroys you and gives you an almost euphoric feeling at the end of every workout
People
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Professor Zhen Yan

director of the Center for Skeletal Muscle Research, University of Virginia
Regular exercise may help people survive COVID-19
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Around 50% of our members are currently continuing to pay full membership, with another 10% taking up virtual-only digital membership
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Kate Cracknell talks connected health and digital transformation with Chris Blackwell-Frost, Martin Friend and Rick Crawford from Nuffield Health’s senior management team
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Featured supplier news
Featured supplier: Fisikal chosen as tech partner for ‘JP4’; new health app from fitness expert, Jessie Pavelka
Fitness expert and television host, Jessie Pavelka has collaborated with Fisikal, experts in digital management solutions, to create the new JP4 app, a premium 12-week personal health and fitness transformation programme that takes the user on a journey of change through four key elements of health.
Featured supplier news
Featured supplier: myFitApp launches branded live-streaming as part of its COVID-19 support package
Innovatise, the company behind myFitApp, has announced the immediate availability of its customer- branded live-streaming solution.
Video Gallery
Temple Gym - Nautilus Equipment
Core Health & Fitness
Temple Gym - Nautilus Equipment Read more
More videos:
Company profiles
Company profile: Healthcheck Services Ltd
Here at Healthcheck Services, we want to empower you, your clients & your staff to ...
Company profiles
Company profile: Jordan Fitness
Jordan Fitness have been at the forefront of premium gym design, with a strong reputation ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Lockers/interior design
Fitlockers: Lockers/interior design
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Wearable technology solutions
MyZone: Wearable technology solutions
Fitness Software
FunXtion International BV: Fitness Software
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Locking solutions
Monster Padlocks: Locking solutions
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Spa software
SpaBooker: Spa software
Management software
Fisikal: Management software
Property & Tenders
Greywell, Hampshire
Barnsgrove Health and Wellness Club
Property & Tenders
Derby City Council
Property & Tenders
Diary dates
06-07 Jul 2020
Eastwood Hall, Nottingham, United Kingdom
Diary dates
28-31 Aug 2020
Expo Centre & Riviera di Rimini, Italy
Diary dates
21-24 Sep 2020
Loews Coronado Bay Resort, Coronado, United States
Diary dates
01-02 Oct 2020
Whittlebury Hall, Whittlebury, United Kingdom
Diary dates
11-12 Oct 2020
ExCeL London, London, United Kingdom
Diary dates
17-23 Oct 2020
Pinggu, Beijing, China
Diary dates
27-30 Oct 2020
Messe Stuttgart, Germany
Diary dates
30-31 Oct 2020
NEC, Birmingham, United Kingdom
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
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