PRODUCT NEWS
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| Budget chain Xercise4Less plans to double in size by 2021 |
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| 18 Jan 2019 . BY Tom Walker |
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| The chain looks to grow its estate to 100 clubs by the end of 2021 |
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Low-cost fitness operator Xercise4Less is has revealed plans to double in size and have 100 clubs open by 2021.
Peter Wright, the company's recently appointed CEO, said the chain would "go back to basics" in order to achieve the goal.
In an interview with Health Club Management magazine, Wright said: “The key is rebuilding and opening up relationships with landlords and becoming credible again.
"We’ve only opened four clubs this year, and about the same last year, so to a degree the tap’s been turned off.
"We have to change the narrative around what Xercise4Less is going to do – to explain that we’re looking to aggressively expand – to build confidence in the market and secure a strong pipeline, even against competitors who have better covenants than us.
"Growth is the ultimate brief: our target is to double the estate to 100 clubs by the end of 2021, with £42m of funding secured to deliver this."
Driving expansion is nothing new for Wright, an industry veteran who replaced Simon Tutt as CEO in August 2018.
He joined Xercise4Less from Turkish health club chain Mars Sportif, where, since 2013, he helped to grow the business from six to 86 clubs.
“Xercise4Less could get to 200 clubs," he added. "And that’s what excites me.
"We know what we need to do. We just have to get on and do it.”
• To read the full interview with Peter Wright, click here for Health Club Management magazine February 2019 Issue.
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