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Bank support helps gym franchise get off the ground

Bank support helps gym franchise get off the ground

Anytime Fitness’ latest franchise has opened in Grove Park, south east London with the support of a £446,000 finance package from NatWest.

The funding has enabled former corporate finance consultant Amir Malik to purchase the franchise and redevelop a dilapidated warehouse as a multi-purpose gym.

Banks familiar with the concept of franchising are more likely to lend to prospective franchisees who want to invest in a proven brand, compared to an individual requiring funds for an independent start-up.

Amir will run the gym alongside a team of four full-time members of staff and two self-employed personal trainers.

Once established in Grove Park, he hopes to open another Anytime Fitness gym and is in the process of looking for a location for his second site.

Amir says: “I don’t have an entrepreneurial background, so a franchise seemed like the perfect transition to running my own business.

“I identified the Anytime Fitness business model as a strong option and thanks to the support and funding from NatWest, I have been able to pursue this business venture.

“I look forward to welcoming new and current members over the coming months.”

 

 

 

 

 

 

 

 

 

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