The Gym Group grows revenue after adding new sites and members
Budget gym operator The Gym Group saw revenue jump last year after adding 70,000 new members.
Total revenue in the year ended 31 December grew 23.6 per cent to £153.1m, up from £123.9m the previous year, as the gym chain opened new venues and persuaded new members to sign up.
Total year-end membership numbers were up 9.7 per cent to 794,000, compared to 724,000 in 2018.
Growth in average revenue per member per month increased 7.6 per cent, from £14.89 to £16.02, as more users signed up to the gym’s premium package.
The company increased its site numbers to 175 from 158, opening 18 new standard gyms and its first two small-box formats in Newark and Beverly, securing a 24 per cent share of the low-cost gym market.
It is planning to open 15 to 20 standard gyms and five to eight small-box gyms during 2020.
The Gym Group chief executive Richard Darwin said: “2019 has been another very successful year in which The Gym Group has again delivered substantial growth in members and revenue.
“Our strong proposition, as the UK’s lowest-price, high-quality gym operator, continues to grow the market and bring affordable fitness to more people across the UK.
“We expanded our business by 20 sites in 2019, which included the first two of our new small box gym concept, which delivers low cost fitness to smaller towns.
“There remains a long runway of potential sites in the UK and with our small box rollout underway we plan to accelerate the expansion of our gym estate in the coming year.
“We have built scale and a strong platform over the past few years and with an encouraging start to January trading, we anticipate 2020 will be another year of significant progress”.
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