Xercise4Less, one of the UK’s leading budget gym chains, has received total investment of close to £20m from BGF since August 2013 - when it had nine gyms and revenues were around £6m - to support its expansion plans.
As a result of its roll-out, Xercise4Less now operates 35 gyms and has an increasing national coverage with sites across the north of England, the Midlands, the South West, Scotland and Wales, and opened its first gym inside the M25 in August 2015, in Hounslow.
The Leeds-headquartered business grew total sales to £21.9m in the 12 months to July 2015, up from £12m in its previous financial year.
In the next phase of growth, founder and CEO Jon Wright and his management team plan to accelerate the roll-out of the chain, and expect to open a further 15 to 20 gyms across the UK in the next twelve months.
Founded in 2006 by ex-rugby player Jon Wright, Xercise4Less started as a single unit in Castleford, West Yorkshire, and now employs over 600 people. The business featured in the Sunday Times’ FastTrack 100 in 2014 and 2015.
The budget gym sector has increased the size of the UK private fitness market by around nine percent since 2011, with one in 12 people owning a gym membership. Xercise4Less has more than 250,000 members and, compared to the industry average for budget gym chains, its members are twice as likely to keep their membership longer than 12 months.