FRANCHISE NEWS The latest reports from businesses in franchising
YourZone45 raises capital to expand its network
n Fitness franchise YourZone45 has announced that it has secured investment and executive support from fitness industry specialists Mhairi FitzPatrick, Andy Kay and Jeremy Taylor. The three new stakeholders will be working alongside YourZone45 founder Chris Elms to develop the product and accelerate growth of the franchise network throughout the UK and overseas. There are currently four YourZone45 franchises operating in the UK, with two more on course to open by the end of summer 2018. YourZone45 is a boutique fitness studio concept that delivers an instructor-led 45-minute workout. Using heart rate technology, the workouts are designed to burn the maximum amount of calories, build strength, increase energy, surpass
workout plateaus, and tone and shape the body.
Chris says: “I am delighted that Mhairi, Andy and Jeremy have agreed to acquire an equity stake in YourZone45. Their business experience will be invaluable and they join the business, and the fitness franchise sector, at a truly exciting time.” Jeremy adds: “YourZone45 provides an exciting and affordable opportunity for people with the drive, ambition and commitment to succeed on their own but who want to minimise their risk as a fitness entrepreneur by following a proven model and blueprint to operate their business.” Jeremy was a co-founder of the LA Fitness group in 1994. He was the group operations director for 11 years as the company grew to an estate of 65 health clubs throughout the UK and Ireland. After exiting LA Fitness, he subsequently
acquired equity and took an executive role in The Health Club Collection, a privately owned business operating six individual clubs throughout London. Andy and Mhairi have worked in partnership for over 20 years, having launched, operated and sold both a self-funded startup and a venture capital- backed business – the former a corporate wellbeing company that specialised in contract management of wellness centres in blue-chip companies and the latter business a premium health club in London’s 37 Degrees Health & Fitness. The two 37 Degress clubs, located in Tower Bridge and West Kensington, near to exhibition centre Olympia London, were sold in 2015 and 2016 to Encore Capital (which rebranded the club to Third Space) and the Sports Direct group respectively.
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BusinessFranchise.com | July/August 2018
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