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Since GymNation arrived on the UAE fitness scene in 2018, its founders have had one mission: to democratize health and fitness by making gym-going more affordable and accessible for UAE nationals. I have been working on this. “We identified a gap in the market where existing companies were overcharging the public. As a result, Dubai is the second most expensive place in the world to own a gym membership. city,” says Lauren Holland, co-founder of GymNation. With Frank Afeaki and Anthony Martland. “We have quickly become recognized as the most affordable gym in the country, offering a value proposition that is unmatched in any sector across the UAE.”
Today, GymNation has grown to 11 locations and 65,000 members. Additionally, he expects his six UAE locations to be in place and once all locations are fully mature in 2025, the company will have 17 gyms in the UAE and membership numbers will reach his 100,000. will be done. “Our ambitions extend beyond the borders of the UAE. We aim to become the largest gym chain across the GCC,” Holland added. “Later this year, we plan to open our first six gyms in Saudi Arabia and have begun company formation and property searches in Qatar, Bahrain and Kuwait. These are all strong markets and GymNation’s offer is very We believe that it will be beneficial to people.”It has been well received. ”
Although the business is experiencing healthy and rapid growth, GymNation’s purpose goes beyond that: it serves as a leading regional exercise partner, champions a healthy, active lifestyle, and promotes health and exercise. The idea is to improve the well-being of countries here by promoting the same, Holland explains. Cultivate the importance of mental health and the power of positive thinking. And Holland and his co-founders will no doubt take this objective into their fold following their recent decision to take over GymNation from JD Sports Gyms, a British sports fashion retailer and division of the FTSE 100. I put it at the center of my work. The giant JD Sports- acquired the company in 2022.
Holland said the decision was made in response to requests for greater collaboration between the company’s investors and its dynamic founder-led ethos. “Our previous majority investor, UK-based JD Sports PLC, did not share the same entrepreneurial spirit as us and did not understand the unique nuances of the Middle East market.” Mr. Holland says frankly.
The management buyout agreement will see GymNation attract new equity investors from around the region, including TriCap Investments, a Washington-based diversified principal investment group, and Luya Partners, an independent private credit firm based in Abu Dhabi. It has become possible to bring in private credit investors. Holland and his team believe this will be key to the company’s ambitious expansion plans across the GCC. “This transaction also moves us as a management team from a minority shareholder to a significantly majority shareholder, which creates an important alignment between our ownership and operational and strategic control,” he added. I did. “This capital shift is not just about financial stakes; it also allows us to incentivize our broader team with capital and build a more invested management team. Equally important, this will give the board greater control and autonomy to achieve quick and effective results.” Learn more about our ambitious and bold strategic plan. Explain in your own way. ”
Source: Gym Nation
The three co-founders allocated 12% of the company’s shares to a broader management team and value-added non-executive directors, which they have begun recruiting. “This approach reflects our and our co-founders Frank and Ant’s belief that the people at the heart of our day-to-day operations can share ownership, so that we can share common interests. “It’s consistent with GymNation’s long-term goals,” Holland explains. “We are passionate believers in the power of capital to drive the right behaviors and culture. This equity participation will ensure that our management team is not only rewarded for today’s success, but also long-term to improve performance and innovation. , it also ensures that we have the motivation to continue to grow.” ”
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Image courtesy of GymNation.
According to Holland, this structure also gives GymNation a solid foundation to leverage the collective strength of its team to support the company’s ambitious plans to double the size of its business within a year. Masu. “This is no small feat and requires a well-planned strategy backed by technology and a data science-driven approach,” Holland said. “We are making significant investments in artificial intelligence (AI) and have already begun to transform the way we handle customer service, sales, retention, and member onboarding.”
Holland believes that the company’s AI system not only gives the company a unique competitive edge, but also sets GymNation apart as a pioneer by doing something that has never been done before in the fitness industry, something its competitors have never done before. I believe it will also help further strengthen my position. Don’t want to or can’t do it. “We are focused not only on expansion, but also on setting new standards in the industry and ensuring GymNation remains at the forefront of innovation and service excellence, with strategic investments in technology. “Overtrading concerns are alleviated, allowing us to scale efficiently and sustainably,” he added.
Regarding the ongoing debate about whether AI will replace the human workforce, Holland is adamant that GymNation’s transition to technology will not diminish his contributions to the team. “On the contrary, we are doubling down on our investment in our people, recognizing the valuable contribution they make to our success,” Holland added. “We are proud to have been recognized as one of the “Top 25 Best Places to Work in the UAE”, which reflects our dedication to creating a collaborative and dynamic work environment. It’s an honor. Our goal is to move even higher in this ranking.” Driven by the feedback and insights we gained through this year’s survey. ”
Now, with GymNation offering employees perks like the opportunity to earn an online MBA in 2024 for senior executives and the option of unlimited self-directed time off, Holland chimes in. I understand that you are spending money. For the whole team. “These are just a few examples of how we invest in the growth and well-being of our teams, giving them more flexibility and autonomy,” says Holland. “These initiatives are designed to improve the skills and job satisfaction of our teams, as well as ensure that GymNation remains a major employer in the region.”
Related: Disruption: How entrepreneurship is shaking up the UAE’s fitness sector
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