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JP Lennard
JP Lennard
JP Lennard
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Glofox to offer health clubs and studios 'instant access' to financing

Glofox will begin offering health clubs, gyms and fitness studios instant access to financing
The new service follows a deal struck with Strip Capital
The club management software provider will use Stripe Capital to offer flexible financing
Eligible business can repay the amount with a fixed percentage of daily sales

Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following a deal struck with Stripe Capital.

The club management software provider will use Stripe Capital to offer fitness businesses flexible financing and help them to bounce back from the pandemic.

The service will particularly look to assist businesses which are looking to grow and scale their operations – whether buying new equipment, growing their staff, or upgrading their in-studio experience.

According to Glofox CEO Conor O’Loughlin, eligible businesses can access funds almost instantly, and repay the amount with a fixed percentage of daily sales.

“As the fitness industry bounces back, we’re the first provider to offer embedded financing to our customers," O’Loughlin said.

"Stripe enables us to implement and launch these capabilities quickly so that we can support our customers to re-invest as they relaunch their businesses."

In 2020, Glofox launched a new digital platform, enabling gyms and health clubs to deliver live streaming and premium on-demand content.

The platform was provided to help Glofox's partner gyms to continue operating remotely and keep members engaged during the COVID-19 lockdown.

Alongside the launch of the new service in April 2020, Glofox revealed it had secured additional investment worth US$10m (€9.2m, £8m), bringing the total amount of funding the company has secured to date to US$23m (€21.2m, £18.5m).

Ireland-based startup Glofox was launched in 2014 and currently has partnerships with gyms in around 50 countries.

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Glofox 
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News

Glofox to offer health clubs and studios 'instant access' to financing

Glofox will begin offering health clubs, gyms and fitness studios instant access to financing
The new service follows a deal struck with Strip Capital
The club management software provider will use Stripe Capital to offer flexible financing
Eligible business can repay the amount with a fixed percentage of daily sales

Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following a deal struck with Stripe Capital.

The club management software provider will use Stripe Capital to offer fitness businesses flexible financing and help them to bounce back from the pandemic.

The service will particularly look to assist businesses which are looking to grow and scale their operations – whether buying new equipment, growing their staff, or upgrading their in-studio experience.

According to Glofox CEO Conor O’Loughlin, eligible businesses can access funds almost instantly, and repay the amount with a fixed percentage of daily sales.

“As the fitness industry bounces back, we’re the first provider to offer embedded financing to our customers," O’Loughlin said.

"Stripe enables us to implement and launch these capabilities quickly so that we can support our customers to re-invest as they relaunch their businesses."

In 2020, Glofox launched a new digital platform, enabling gyms and health clubs to deliver live streaming and premium on-demand content.

The platform was provided to help Glofox's partner gyms to continue operating remotely and keep members engaged during the COVID-19 lockdown.

Alongside the launch of the new service in April 2020, Glofox revealed it had secured additional investment worth US$10m (€9.2m, £8m), bringing the total amount of funding the company has secured to date to US$23m (€21.2m, £18.5m).

Ireland-based startup Glofox was launched in 2014 and currently has partnerships with gyms in around 50 countries.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Glofox 
Related news

Boutiques back to 91 per cent of pre-COVID levels in some world regions

18 Sep 2020
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Glofox raises US$10m – launches digital platform to help gyms offer online workouts

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Gym management software provider Glofox has launched a new digital platform, enabling gyms and health ...

News

The government needs to urgently set out its plans to support physical activity and fitness
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time,
A £30m luxury leisure development scheme which has been more than a decade in the
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company
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JP Lennard
JP Lennard
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An ongoing partnership between Active Leeds and Hussle has created exciting results in the form of increased usage and memberships
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As our sector starts to recover, there will be changes in the needs of communities, consumers and the provision of opportunities. To explore this subject we hosted a virtual round table to better understand views on key workforce questions
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HCM people

Andy McGlynn

Founder, GSquared
Once we grow beyond Manchester we’ll go head to head with Equinox and Third Space
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As the industry enters a phase of regrowth following the loss of members during lockdown, it’s crucial to understand customer acquisition cost versus the lifetime value of each customer, as Paul Bedford and Jamie Owens explain
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Opinion
promotion
While much of the fitness industry has reopened its doors across the UK over the past weeks, many members are yet to return.
Opinion: Re-engaging your post-lockdown absent members
Featured supplier news
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As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return.
Featured supplier news
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Active IQ has launched two new qualifications – the Level 2 Diploma in Health and Fitness and Level 3 Diploma in Health and Fitness – to help engage learners in an industry-ready training experience that can be tailored to suit local employer needs.
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Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
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Online,
Diary dates
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Diary dates
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Locations worldwide,
Diary dates
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Diary dates
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JP Lennard
JP Lennard