OneGym, a leading fitness chain in the North East, is set to expand significantly with new funding secured from ThinCats.
The firm aims to utilise this investment to acquire additional sites, furthering its reach and catering to the community’s fitness needs.
Expansion Strategy and Funding
OneGym, a dynamic gym network in the North East, is embarking on significant expansion plans. The organisation has successfully obtained considerable financial backing from ThinCats, an alternative lending firm, to facilitate this growth. This strategic funding is aimed at acquiring new sites, propelling the brand’s presence across the region.
Founded by brothers David and Paul Pearson, OneGym operates 11 locations in towns such as Darlington and Durham. Their focus on providing access to state-of-the-art fitness equipment without unnecessary extras like swimming pools, caters to cost-conscious customers seeking flexibility. The low-cost membership model allows members access to all locations without extra fees, promoting customer satisfaction and loyalty.
Partnerships and Investments
Middleton Enterprises, based in Newcastle, previously invested in OneGym, contributing to its expansion efforts which added six new locations in the past 18 months. This partnership exemplifies the synergy that can occur when investment aligns with business growth objectives, allowing for increased employment and operating scale.
The company leverages advanced site selection software to identify optimal new gym locations. With the new funding, OneGym plans to open three to four sites annually, targeting central community locations. This strategy ensures that the gyms remain accessible and vital to community health initiatives.
Recent Developments
Earlier this year, OneGym acquired a 20,000 sqft space in Chester-le-Street, previously occupied by Wilko. This acquisition is part of their strategic plan to reclaim valuable community spaces for active lifestyle purposes.
David Pearson emphasised the importance of their alliance with ThinCats and Middleton Enterprises, highlighting their ability to scale operations swiftly. Their approach to funding and growth capital has bolstered their confidence in their ambitious expansion trajectory. Such strong backing from investors underscores the growing demand and trust in OneGym’s business model.
Ben Kimball, Senior Director at ThinCats, praised OneGym’s impact within the North East fitness market, noting that their gym facilities have become central hubs in the areas they serve. The partnership aims to further cement this community-centric approach as they expand.
Community Impact and Future Goals
OneGym’s expansion is not solely about physical growth; it is strongly community-oriented. Gyms are strategically placed to integrate with local health initiatives, encouraging more individuals to adopt active lifestyles conveniently.
The brand’s focus on community engagement sets it apart from competitors. With over 70 employees across various locations, OneGym not only creates job opportunities but also fosters a sense of belonging among its patrons. The expansion into new sites is expected to further this community-first approach, reinforcing the ties between the gyms and local residents.
David Alprovich, COO of Middleton Enterprises, added that their faith in OneGym stemmed from its robust growth potential and established reputation. In response to increasing demand, the continual search for new sites is critical to sustaining growth momentum.
Strategic Location and Growth Prospects
OneGym strategically targets high-traffic and community-centric locations to ensure maximum accessibility and impact. This includes transforming underutilised spaces into thriving fitness centres, which benefits both the community and the company’s growth objectives.
With the recent financial support, the management team aims to rapidly extend their footprint across the North East. Several sites are already being considered for new gyms, indicating a robust pipeline for upcoming launches. This proactive approach ensures that OneGym can meet the growing demand for accessible fitness options.
Ensuring that each new gym fits organically into its surroundings is a priority for the company. This careful consideration helps maintain the community’s character while introducing modern fitness solutions that align with current health trends.
Investment in Innovation and Technology
Investment in new software has enabled OneGym to effectively analyse potential site locations, ensuring that they select areas that will best serve their strategic goals. This data-driven approach is critical for informed decision-making, allowing OneGym to stay competitive and responsive to market demands.
The integration of technology into their expansion strategy reflects OneGym’s commitment to innovation. By embracing modern technological solutions, OneGym is well-positioned to enhance its operational efficiency and customer satisfaction.
Support from Financial Partners
ThinCats’ collaboration with OneGym goes beyond simple financial support. Their partnership reflects a shared vision for sustainable business growth, as well as a commitment to enhancing regional fitness options.
OneGym’s expansion demonstrates a commitment to community wellness and business growth.
With strategic funding and partnerships, the company is well-positioned for future success.
