You’ve changed roles from CEO to be in charge of global growth. Tell us what’s happening.
We’re gearing up to launch into franchising this month (August 2024) and will be aiming to open 150 locations globally in the next five years. My new role is focused on developing this franchise business with a global remit.
What’s the plan?
We’re planning to franchise all the UFB brands in phases. We’ll start with our Barrecore, Reformcore and Triyoga brands and then phase two will be to franchise Kobox and Boom Cycle.
In addition to the successful launch of Reformcore in January 2024, we’re in the process of rebranding Barrecore to attract a wider market and appeal to the growing Gen Z demographic.
Boom Cycle is also adapting its programming to attract a wider audience. We’re retaining the Original Boom Cycle ‘party on a bike’ format and making additions of performance and endurance programming.
Last month we launched Reformcore at the Battersea Power Station development, bringing the brand to five studios (www.reformcore.com).
How have preparations been going for the franchise launch?
We intend to actively discuss the opportunity from August and people will be able to enquire via our website.
We already have two franchisees that have been part of UFB and this has enabled us to test the proof of concept successfully. Both operate Barrecore and Reformcore.
We’ve already had expressions of interest from across EMEA, simply from people who know the brands.
What’s your experience in franchising?
My background in franchising started at Anytime Fitness when the company had a handful of studios open. I was a member of the team focused on recruiting franchisees to support growth.
In 2017 I launched and led Skinsmiths to open nine clinics in seven months and I was also European head of franchise for Getir following a successful UK rollout, which again was rapid growth.
What’s the geographic reach of the franchising business?
We’re looking for developer franchisees in global markets, as well as individuals in the UK who are passionate about making a positive impact on people’s health, fitness and wellbeing.
What will the cost be?
The franchises will be priced at between £250,000 and £450,000 with a capital return on investment in two-and-a-half to three years, depending on the brand and how many studios the franchisee takes.
This rate will apply to the three launch brands and then we’ll review how things are going before confirming pricing for phase two.
What kinds of locations are you targeting?
For the UK our preference is to open in the commuter belt first.
