9 March 2011
A Windsor-based entrepreneur is set to create fifteen new jobs by opening his latest gym in Southwark, after securing a £3 million loan from Bank of Scotland.
Matthew Harris will open his sixth gym under his fitness4less brand in April, which will help take total turnover for his health club group, which also includes TopNotch Healthclubs, to £14 million by 2012.
After opening fitness4less sites in Bristol, Birmingham, Watford, Newport, Cambridge-Heath (London) and Nottingham over the last two years, Matthew decided to expand the business further by launching a second site in London and approached his banking partner Bank of Scotland for the £3 million loan.
The funding enabled Matthew to complete a full refurbishment of the 20,000 sq ft Great Suffolk Street, London premises, which previously operated as a night club, and install a state-of-the art gymnasium, large aerobics studio, luxury changing rooms, spinning room and 200 pieces of fitness equipment, including forty running machines.
Fitness4less, Southwark. is set to generate a turnover of £1 million in its first year and help the brand achieve a total turnover of £5 million.
The new site will create fifteen new jobs, offer monthly contracts and will provide over forty exercise classes a week.
The gym group ethos is based on offering customers high quality gym memberships at £14.99 for use of the gym and access to classes.
Matthew Harris, CEO of fitness4less, said: “We found a niche in the market to provide a no-frills membership, where customers could access high quality gyms without the expensive hidden costs and charges.
With recent difficult economic conditions, customers often do not want to sign up to lengthy contracts and under the fitness4less brand we have established a firm-footing by opening fantastic gyms which are accessible and more affordable. We have a very strong and positive relationship with Bank of Scotland and with its support we have been able to grow and expand, bringing our gym offering to more people across the country.”
Chris Salter, relationship director for Bank of Scotland, said: “We are committed to helping businesses access the finance, support and guidance they need to help them achieve their goals and capitalise on the growth opportunities available.”
For more information on fitness4less in Southwark please visit: http://www.fitness4less.co.uk/London_Southwark_Club.html
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