OneGym
Founders:
David & Paul Pearson
Established:
2012
Investment:
2022
BACKGROUND
OneGym, founded in 2012 by brothers Paul and David Pearson is a chain of fitness studios based across the North-East. Coming from a career in Fitness, Paul teamed up with David, who was working in property development to create a low-cost gym differentiated from the competition.
OneGym offers a stylish workout environment, kitted out with state-of-the-art equipment and facilities, high standards of service, free classes, saunas and sunbeds, at convenient locations with plenty of free parking. Paul and David opened their first gym in Bishop Auckland in 2012, which was instantly a success.
Over the coming years, they worked tirelessly and bootstrapped the business to five sites, funding with cashflow and debt. Middleton invested in 2022, providing the financial and strategic support for the business to grow from 5 sites to 10 in 2 years.
Why we invested in Onegym?
We believe OneGym offers a best-in-category product. The quality of the product is reflected by a growing and engaged member base, with industry leading retention metrics. Their gyms offer customers a wider & higher quality range of equipment compared to other low-cost gyms, attracting a more committed gym member and with that a stickier customer. Paul & David’s commitment to constantly evolve their product and stay on top of trends sets them apart. As gym membership adoption continues to grow and the cost of living crisis sustains, OneGym is in a prime position to benefit from these tailwinds.
Moving Forward…
Since Middleton Enterprises Growth Capital invested in 2022, the business has gone from strength to strength, doubling the number of sites in a 2-year period. The business now has 10 sites across Teesside and Tyne and Wear, cementing their position as the market leader of low-costs gyms in the region. OneGym continues to execute their plan, with a strong pipeline of future sites across the North-East.