A NEW global fitness franchise will open its first studio in Scotland next month after securing a £120,000 loan from HSBC UK.
F45 Glasgow will open its doors in the city centre’s West Campbell Street in early November. F45 offers unique team-based, high-intensity interval training classes which each provide 45-minute workouts. Eight personal trainers are being hired for the new venture, with additional cleaning staff to be employed once doors have opened to the public.
F45 has been brought to Glasgow by Scottish multi-franchisee businessman Michael Quigley, who funs five Subway franchises across the country. Plans are also in place to expand the F45 franchise across Scotland in the coming months.
Michael Quigley, Owner of F45 Glasgow, said: “I’m passionate about Health and fitness and I have witnessed first-hand how F45 is taking the global fitness world by storm. The brand has grown exponentially in the UK and Europe over the last two years so there was an obvious opportunity to extend this to Scotland.
“HSBC UK has been extremely easy to work with and enthusiastic in supporting our plans to open in Glasgow. I’m delighted to be a part of the F45 family and look forward to opening our doors to the public later this month, and to hopefully start looking at more locations across Scotland in the near future.”
The finance was allocated from HSBC UK’s national SME Fund, which aims to actively help UK businesses realise their ambitions for growth and navigate Brexit. The new £14 billion SME Fund has recently been announced by HSBC UK, with £650 million committed to supporting SMEs in Scotland.
Susan Rowand, Head of Business Banking for Scotland, HSBC UK said: “Michael is experienced at running successful franchises and has spotted a new, exciting opportunity with F45 as the health and fitness industry and demand for specialist classes and training continues to grow in Scotland and across the UK. HSBC UK is committed to supporting Scottish business ventures and we’re delighted to back Michael’s plans to bring F45 to Glasgow.”
F45 now operates in 40 countries after launching in Australia in 2014. The concept is backed by Hollywood A-lister Mark Wahlberg, who previously invested in the Australian franchise and promotes its challenges through his social media accounts. England rugby international James Haskell has also become a F45 franchisee after opening a training studio in Bath.
The UK has nearly seven thousand health and fitness clubs with approximately 10 million members. Almost half of those are solely fitness clubs that generate a total annual turnover of £1.9 billion. It is also estimated that the market for personal trainers in the UK will grow from approximately £600 million in 2015 to approximately £670 million by 2020*.