More 24 hour gyms could be coming to Norfolk
PUBLISHED: 09:47 20 March 2019 | UPDATED: 09:47 20 March 2019
Mark Bullimore Photography 2017
Fitness chain The Gym Group has posted another year of rapid growth, and is looking to expand how many sites it has.
The chain brought in revenue of £123.9 million during 2018, up 35.6% on the year before.
The group already has a strong foothold in Norwich, with two 24-hour gyms in Norwich’s Hall Road and in Little London Street.
MORE: Do you want to be a Future50 business? Applications are open
However, the group has said it wants to open another 20 gyms this year alone, to take advantage of the rapidly growing budget fitness sector.
And according to PwC research commissioned by the company, the low-cost gym market is set to double in size during the next seven years.
Chief executive Richard Darwin said: “Our purpose is to provide affordable access to everyone who wants to improve their wellbeing and we see every day the positive impact we achieve as The Gym continues to make health and fitness available and affordable to all.
“Independent research confirms the low-cost gym market can at least double its number of sites supporting our ambition for further organic growth alongside the maturing of our current estate.”
The company is also planning to open its first “small box” format gym in 2019, opening a new avenue for growth as it is rolled out further.