A new global fitness franchise from Australia backed by Hollywood actor Mark Wahlberg will open its first studio in Scotland next month after securing a £120,000 loan from HSBC UK.
Specialising in high-intensity, 45-minute interval training classes, F45 Glasgow will open its doors in the city’s West Campbell Street, taking on eight personal trainers.
It is being brought to Glasgow by Scottish multi-franchisee businessman Michael Quigley, who funs five Subway franchises across the country. Plans are also in place to expand the F45 franchise across Scotland.
Quigley said: “I’m passionate about health and fitness, and I have witnessed first-hand how F45 is taking the global fitness world by storm. The brand has grown exponentially in the UK and Europe over the last two years so there was an obvious opportunity to extend this to Scotland.
“I’m delighted to be a part of the F45 family and look forward to opening our doors to the public later this month, and to hopefully start looking at more locations across Scotland in the near future.”
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The finance was allocated from HSBC UK’s national SME Fund, which aims to help UK businesses realise their ambitions for growth and navigate Brexit. The £14 billion SME Fund was announced by the lender last month, with £650 million committed to supporting SMEs in Scotland.
Susan Rowand, head of business banking for Scotland at HSBC UK, said: “Michael is experienced at running successful franchises and has spotted a new, exciting opportunity with F45 as the health and fitness industry and demand for specialist classes and training continues to grow in Scotland and across the UK.”
F45 now operates in 40 countries after launching in Australia in 2014. Actor Mark Wahlberg invested in the Australian franchise and promotes its challenges through his social media accounts. England rugby international James Haskell has also become a F45 franchisee after opening a training studio in Bath.
It was also stated that the UK has nearly 7,000 health and fitness clubs with about 10 million members. Almost half of those are solely fitness clubs that generate a total annual turnover of £1.9b.