In 2020 LBN reported how Liverpool city region gym EmpoweredFIT had secured a £100,000 cash injection to recover from COVID – now its turnover has almost trebled to £1m. Tony McDonough reports
Fitness entrepreneurs Chris Ellerby-Hemmings and Thea Anne Holden expanded their gym in Upton in Wirral from 4,000 sq ft to 22,000 sq ft before its growth was hit by COVID.
While EmpoweredFIT was forced, along with all other fitness facilities, to shut down for long periods during the pandemic, the business decided it needed investment to recover and put it back on the path to growth.
In late 2020 Chris and Thea secured a £100,000 loan from the Northern Powerhouse Investment Fund (NPIF). The fund is managed by Liverpool-based River Capital in partnership with GC Business Finance.
Since emerging from multiple lockdowns EmpoweredFIT has recovered strongly. Turnover in 2022 was £1m – a big rise from £360,000 in 2021. From having just 300 members in 2017 it now has around 3,000.
On average, only 20% of gyms’ registered members across the UK actually attend the facility within a given month. For EmpoweredFIT, 87% of its 3,000 members attend its gym in a month. It now employs 35 team members including personal trainers.
With the help of the NPIF investment, the business has bought almost £300,000 of new equipment. Its investment strategy saw 1,000 new members sign up on its post-COVID reopening day in April 2021, with queues to sign up circling around the premises.
Chris Ellerby-Hemmings said: “Our mission has always been to provide a friendly and welcoming gym environment, where everyone feels empowered to achieve their fitness goals.
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“We’re proud to have built a community of passionate members and expert trainers who support and motivate each other every day.
“The NPIF investment has been crucial in enabling us to take our vision to the next level, and we’re now looking to explore further business options such as franchising, taking advantage of the personable and engaging brand we have curated over the years.
NPIF is supported by the European Union using funding from the European Regional Development Fund.
Sue Chambers, River Capital investment manager, added “Since moving to larger premises EmpowerFIT has literally gone from strength to strength. We are delighted to have enabled Chris and Thea to achieve their growth plans.”