GymWorks opens third location with six-figure backing

Lancashire-based health and fitness chain GymWorks has opened a third location after receiving a £380,000 loan.

The company opened its first gym in Preston in 2013, expanding into Chorley in 2017 and now opening its doors in Skelmersdale.

The finance was provided by Royal Bank of Scotland and Lombard, part of the NatWest Group.

Peter Guy, who previously worked at a fitness centre where he dreamt of running his own business, teamed up with his business partner and co-founder, Craig Winstanley, to establish GymWorks.

Their mission has been to provide high-quality leisure facilities at affordable prices, with memberships starting at just £19.99 per month.

Royal Bank of Scotland contributed £230,000, while asset finance provider Lombard provided a loan of £150,000, which played a crucial role in securing and renovating the Skelmersdale branch.

The funds from Lombard have also enabled the GymWorks team to purchase state-of-the-art fitness equipment and amenities, including air conditioning in the fitness studio.

The new Skelmersdale branch has already created eight jobs, and Peter and Craig have ambitious plans to double the staff with additional trainers, receptionists, and more.

With the continued support of the NatWest Group, the duo aims to open more branches in the future, with plans to expand the Skelmersdale site by a quarter in size and introduce additional facilities, such as a dance studio.

Peter and Craig said: "We wanted to create a business that we’re passionate about and in communities that we care about. We already have the knowledge of the fitness industry, but the challenge was to launch and grow a business.

"We took the leap with both Royal Bank’s and Lombard’s support, and our dream is now a reality. Not only have Royal Bank and Lombard provided financial aid, but the business experts have been incredible, and the team has really been on hand in supporting us in the opening of our new branch."

Anthony McGreevy, relationship manager at NatWest, added: "The GymWorks founders are some of the most ambitious and hard-working individuals I’ve come across. The duo had such drive and ambition to start a business of their own and turn an idea into a successful company.

"We’re thrilled to support Peter and Craig, and their success is a testament to their hard work. We couldn’t be prouder to be working with them."