Health & Beauty, Fitness, Sport
£ 650,000 - £ 850,000
Founded by two brothers from Kent, Parm and Kam Singh set up truGym, the trading name of 5k Fitness Ltd., as a way of offering a means of keeping fit for an affordable membership fee.
The monthly fee covers all-inclusive use of gym facilities, classes and steam/sauna areas. TruGym has kept pace with the various trends in fitness, introducing new equipment and classes ranging from yoga, Zumba and Pilates to high intensity training and spin studios.
Parm Singh earned a degree in chemistry and management at King’s College, London. He had worked in the opticians and hearing centres industries before he and his brother opened the first truGym health club in Maidstone in September 2010.
The open-plan gym was intended to be a no-frills exercise environment for fitness fans on a budget. When he began formulating his own gym, Singh noted that only 25 per cent of members used gym facilities such as swimming pools and saunas. It was clear to him that the majority of gym users were paying membership usually in excess of £40-a-month for services that they do not use.
Singh opened the first 24-hour gym in Peterborough in May 2011, and he is also behind other innovative fitness entertainment franchises such as JumpArena, an indoor trampolining business which opened its first site in December 2015, and the boutique high-intensity studio concept, truIntensity, in August 2017.
The company expanded when it took over a number of former Fitness First gyms in 2013 and in 2016 set up truGym India Franchise Ltd. with the intention of expanding the franchise to India.
Price was always the intended USP of truGym. The chief reason for people to not join a gym was the perceived high cost that customers would have to pay for membership to organisations where many of the benefits on offer would not be used.
The truGym model was to be a stripped down, value for money gym, open from six in the morning until 10 at night, offering top of the range equipment. This was the same low-cost, high turnover model Parm Singh had used previously in his opticians and hearing centres.
Joining the truGym franchise programme means benefiting from a turnkey business solution, with full support offered to ensure that each franchisee’s club successfully operates in their chosen region.
TruGym offers an extensive support system designed to make your transition as simple as possible. Its teams have extensive experience in starting and operating leisure businesses and will provide all the tools the franchisee needs to run a successful, market-leading gym.
With more and more people wanting to stay fit, there is a large demand to find a fitness provider who can cater to the needs of the market. A truGym franchise may be one of your best options. Not only are they growing in size and numbers, but truGym has boasted of seeing incredible turnover results, with annual net profits ranging from £250,000 to £300,000, depending on the size and location of the franchisee’s club.
The business has been proven effective, and truGym offers an extensive support system ensuring that its franchisee’s businesses will run smoothly.
The initial franchise fee is £25,000 + VAT, but the initial investment will range from £650,000 to £850,000 depending on the size of the club.
The company also has minimum requirements for liquidity that must be fulfilled including £100,000 to £150,000 cash assets and a proven financial credit standing. TruGym has leading financial partners such as the HSBC to help its franchisees establish the cash flow needed.
There are currently 11 branches of truGym in the UK, ranging from the boutique option which covers 3,000 square foot to fitness centres covering an expansive 20,000 square foot.
A truGym franchise owner will receive a business solution with complete support which will ensure successful operation. There is an extensive and thorough support system designed to make all transactions as efficient as possible. The truGym team has the expertise and experience to help set up and run businesses and will provide all the tools required to operate a successful market-leading gym.
The services offered include a team of real estate professionals and partnerships with leading leisure agencies; a construction and architectural team to help you from inception until the launch of your gym; a corporate training team who can offer a comprehensive on- and off-site training programme; a detailed operations manual; member, prospect and POS systems that are developed and designed specifically to meet the needs of the industry; branding, marketing and social media support; health and safety support; and regional performance managers for on-site support.
TruGym is looking for someone who is passionate about delivering high levels of customer service and ensure that the standards of the truGym brand are upheld.
TruGym has gymnasia in Boston, Bromley, Chatham, Folkestone, Luton, Maidstone, Peterborough, Plymouth, Stevenage, Stockton, and Uxbridge.
The low cost but high quality facilities will ensure that your truGym club competes in your local territory. The company will fit out your club with industry-leading equipment and systems, including a large free weights area, fitness class studio, cardio area, functional rig, resistance equipment, changing facilities with saunas and spin studios.
The latest innovation from truGym has been the launch of the HIIT (high-intensity interval training) boutique studio in Bromley, Kent, in the summer of 2017. The target membership for the 1,600-square-foot boutique truIntensity business is 20- to 40-year-olds who will be offered different exercises based on the workout of the day at the eight stations available.
Members can have personal classes or group sessions for up to 20 people, the monthly membership priced at £60 per month. The new club attracted 750 members in its first three weeks and truGym is offering truIntensity as an alternative franchise that will not require such a large financial backing.
LeisureDB’s 2018 State of the UK Fitness Industry Report has revealed that the market value for the industry has almost reached £5bn, with over 7,000 gyms in the UK servicing a total membership of almost 10m – meaning that one in seven people in the UK is a member of a gym.
David Minton, director of Leisure DB, has called this “the golden age of fitness,” and has predicted that the period up to 2020 will see fitness continue to “break all barriers.”
The number of fitness facilities in the UK increased by over 300 between 2016 and 2017.
The way to financial fitness could be through a truGym franchise. To find out more, or to request further information on franchising with truGym, click on the ‘Send Enquiry’ button now.
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