£465,000 for new gym franchise
We are delighted to report that we have raised £465,000 for our client to embark on a new gym franchise.
Our client is an extremely well-known international rugby player and European Ambassador of an Australian fitness franchise operation. The franchise, based on no-nonsense, no machines, quick group workouts, has taken the world by storm with more than 1,000 studios worldwide and is starting to expand in the UK.
Our client was eager not just to promote the brand, but also to grow his own set of gyms under the franchise, and approached B&Y to help secure start-up investment for new sites.
Investment and Outcome
We identified a shortlist of key individuals within our investor network, confident that these investors were potentially the right fit for our client. We also talked to a handful of relevant VCT’s active in this space. Finally, we believed that we could present a case for senior debt for our client, and thus constructed the pack and approached a number of banks on behalf of our client.
After a series of investor meetings, one individual stood out – which is so often the case – and began discussing terms. We supported our client throughout the process, advising where necessary but also mindful of offering a light touch when relevant.
The fundraise was completed by a combination of a single HNW and a major bank. Our experience in dealing with such lenders enabled the client to conclude the raise and commit funds to the first site, of what we trust will become a successful chain of gyms.