Tonight, we are welcoming our Pioneer Member Peter Roberts, founder of PureGym, at our E2E Private Dinner. PureGym is Britain’s fastest growing gym chain with over 500,000 members and separates itself from its competitors with its no contract policy, with members paying between £9.99 - £25.00 a month, very low in comparison with other gyms.
Prior to the rise of PureGym, the fitness market was dominated by mid-market gyms and top end chains. Peter recognised that there was a significant gap in the UK market as low cost, non-contract gyms in the USA, Germany and Scandinavian had been well established for years. He saw the potential opportunities this had in the UK and grew his business from there.
The PureGym company originally used investment from private backers before raising funds from Magenta Partners, which has led to its financial success. It is now majority-owned by private equity house CCMP Capital Advisors. The PureGym company has been offered more sites around the UK, encouraging fast growth for the business. It also highlights that the business target for 250-300 gyms in the UK by 2020 is right on track.