HSBC UK will now lend up to 60 per cent of start-up costs to franchisees. And with the brand set to reach the 100-gym landmark in the UK & Ireland later this year, this funding uplift will provide entrepreneurs with greater support as they look to establish their franchisee business.
Across the world, meanwhile, Snap Fitness currently has over 1,000 gyms in more than 20 countries. As well as no closures or sites currently up for sale across its Europe, Middle East and Africa estate, its UK membership base grew by over 17 per cent year on year across the same number of sites – this against an industry backdrop of 4 per cent, according to the 2024 State of the UK Fitness Industry Report.
As Kevin Yates, CEO of Snap Fitness parent brand, Lift Brands EMEA, puts it: “This is testament to the ongoing work of our teams across the Europe, the Middle East and Africa (EMEA) region who are operating highly profitable gyms; this funding will allow us to support more ambitious entrepreneurs as they realise their ambitions of owning their own gym.”
Existing Snap Fitness franchisees are traditionally seeing a return on investment within three years, allowing them to quickly scale their investment and become multi-site owners.
Meanwhile, newly opened locations of Snap Fitness are also breaking even within the first eight weeks of operation.
Anita Roberts, Franchising Director at HSBC UK, adds: “The franchise industry continues to be incredibly resilient and this is reflected in Snap Fitness’ sustained growth. We look forward to working with more franchisees and helping to provide the funding required to successfully open more Snap Fitness locations across the UK.”
Further details here.
