A gym chain that wants to attract people who have never used fitness clubs before is getting into shape for a crowdfunding push.
Energie Fitness, which claims it is not “a big scary gym”, wants to raise at least £500,000 through an equity offering on Crowdcube to be launched this week. The cash will fund expansion plans. Energie was set up in 2003 by Steve Philpott and current chairman and chief executive Jan Spaticchia. It operates 94 gyms and intends to open 32 more next year.
The chain turned over £25m last year and is seeking to capitalise on a wave of investor interest in budget fitness clubs. The Gym Group went public last year, valued at £250m, while Pure Gym is planning its own £500m float in the summer.
Energie operates through three main franchises — Fitness Club, Fitness for Women and Fit4Less. It says 50% of its members have never joined a gym before.