Lift Brands investment to drive Fitstop’s international expansion
Australia gym franchise business Fitstop is reported to be ready to expand in the USA, backed by a $3.3 million investment from global fitness franchisor Lift Brands.
The capital injection follows on from the company (the parent brand to Snap Fitness and Fitness On Demand) securing a 30% stake in Brisbane-based Fitstop early last year.
The latest funding will be used for Fitstop’s US expansion including establishing the 10 locations already secured with business owners across California.
Fitstop founder and Managing Director Peter Hull told The Courier-Mail “it’s a market ripe for our brand, they enjoy an outdoor lifestyle, a love of fitness and sport, and there is a desire for fitness training that provides progression, strength and conditioning among a like-minded community.”
Fitstop now has 85 locations and last month secured a partnership with Vytality Group which will see a further 80 locations open in the NSW market, which will be in addition to the 160 locations in the pipeline in 2022/23.
Commenting on the growth, Hull added “our investors have continued to be impressed with how we’ve positioned the business for growth, investing in a purpose built model with the ability to scale - and its given us results - our franchise growth is ahead of forecast with a New Zealand and NSW market expansion.
“We have a unique combination, firstly of custom technology built for owner operators to drive business performance and manage memberships, this has attracted passionate business owners.
“Secondly, Fitstop’s DNA is partnering with franchise owners who are equally passionate about fitness, moving more, living life and performing at your best - it is the strength behind building a dedicated community and seeing progression.”
Fitstop has also opened a new corporate office in East Brisbane and appointed a new executive team to lead the brand into New Zealand, Asian and USA markets.
Image: Members of the Fitstop team at the opening of their new East Brisbane base.
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