The UK's health and fitness industry is booming. With estimated revenues in 2017 in excess of £3 billion, and that figure expected to rise to around £3.9 billion by 2022, the industry is weathering the storm of an uncertain economy. This is thanks largely to a number of factors, from the growing public awareness of the negative effects of sugary and fatty foods, to the enthusiasm for and inclusivity of sport since the London Olympics in 2012. More tangibly, the growth of low-cost, no-contract gyms and health clubs has also made fitness and exercise more accessible to those with less disposable income.
With just over 5.6 million people in the UK with an active gym membership, and that number growing year-on-year, the boom shows no sign of dying down. To ride the crest of the wave, businesses in the sector are experiencing two price wars. Lower cost providers are in a 'battle to the bottom', with nationwide fitness chains commonly occupying the sub £30 per month price range. At the other end of the scale, luxury health clubs in the plus £40 per month price brackets are constantly adding new facilities, treatments and equipment to cater to the needs of their customer base.
Whichever end of the market your gym occupies, you'll be well aware of the many ongoing and one-off costs associated with running a business. Bank funding often helps to cover some of the regular costs such as commercial rent and insurance, but in a rapidly-moving industry, many gyms and health clubs need a reliable source of funding that can provide quick, flexible working capital in a matter of hours, not weeks. This type of funding enables gym owners to react to sudden opportunities, make repairs to equipment and smooth over unexpected dips in cashflow.
In the past, businesses have been restricted to borrowing from their bank and whilst this may work for some, a new breed of alternative business lenders, including Fleximize, have risen to the fore, offering innovative solutions tailored to individual business requirements.
Fleximize offers fast, flexible funding that can be tailored to the needs of your gym. Whether you're looking for a long-term solution to help support the growth of your business, or simply a short-term capital injection to help you make the most of a busy January, our products can be designed around your needs. Here are some of the highlights:
- Business loans of £5,000 - £500,000
- Repay over a flexible term of 1 – 48 months
- Approval and deposit in as little as 48 hours
- Easy application with minimal paperwork
- No hidden fees or early repayment penalties
- Top-ups and repayment holidays as standard
- Interest charged on reducing balance, not the total loan amount
Numerous gyms and health clubs have used Fleximize funding to help deliver an outstanding experience for their customers. Here are just a few of the ways our funding has been used in the health and fitness industry;
Apply for funding for your gym
If you’ve been trading for six months or more, you can apply for funding in minutes by clicking the button below. Subject to passing our basic eligibility criteria, a member of the team will be in touch to guide you through the final steps. Alternatively, to discuss our funding options with a member of the team, feel free to drop us a call on 020 7100 0110.