Ladies-only gym franchise secures funding
A CANNOCK-based business has secured grant funding for a its Gymophobics franchise that provides ladies only fitness and dietary support.
The funding was secured from the High Growth Investment Programme launched in May 2014 by the Stoke-on-Trent & Staffordshire LEP, which is managed and operated by Blue Sky Corporate Finance.
The programme is funded by the Government’s Regional Growth Fund through Lancaster University and is designed to enable local companies to realise their growth potential by offering grant funding for expansion, capital equipment purchases, support for training, and research and development.
Gymophobics provides a 30 minute exercise circuit designed specifically for women regardless of age and fitness level, in a relaxed but fun atmosphere.
The franchise programme has been trading for over ten years having 36 locations across the UK, with a concentrated contingent in and around the Midlands area.
Jane Kenyon, director, of Gymophobics, said: “The funding we have secured through the help of Blue Sky Corporate Finance has enabled us to now put this into practice.
“We have already started recruitment of gym instructors and our intention is to employ additional support staff over the coming year.”
David Baker, associate, Blue Sky Corporate Finance, said: “We are pleased to have supported Gymophobics Cannock through the funding process and confident that the business will go from strength to strength as local demand increases.”
