Gym entrepreneur secures six-figure MEIF II funding for tenth location

Fitness Worx has secured a £320,000 loan from the Midlands Engine Investment Fund II, through fund manager Frontier Development Capital (FDC), to fit out and equip the new facility.

Work is underway to convert a 12,900 sq ft former office building on Drayton Road that was previously occupied by Britvic. The new site, which will be open 24 hours a day, will feature a cardio zone, strength and weights areas and a sauna set across four floors, and offer personal training and a range of small group classes.

The 1,100 memberships released so far have already sold out, with more due to be offered on the opening weekend on 12 and 13 September.

Founded in 2014 by personal trainer Jack Gibson, Fitness Worx also operates gyms in Kenilworth, Warwick, Southam, Leamington Spa, Bristol, Stratford, Rugby and two in Coventry. All of its sites are currently operating at 90-95% capacity in terms of memberships and the business prides itself on being ‘community led’ with regular events and competitions.

Fitness Worx currently employs over 30 people and expects to create several new jobs as a result of the Solihull launch. It aims to have a total of 25 sites across the Midlands and beyond within the next 10 years.

Jack Gibson, founder and CEO, says: “Solihull is currently lacking the type of high-end, independent gym offering that Fitness Worx provides. It has been on our target list for a long time but until now we have been unable to find the right location. It’s great to be opening here at last – and another step towards our goal of opening a Fitness Worx in every major town in the Midlands.”

The business previously received funding from BCRS Business Loans in 2023, under the first Midlands Engine Investment Fund, before securing £320,000 in funding for its Coventry branch from the Midlands Engine Investment Fund II via Frontier Development Capital in 2024, followed by a further £250,000 for its Rugby branch in 2025. The latest funding represents its third round of support from MEIF II and Frontier Development Capital.

Marie Kelly, Investment Manager at Frontier Development Capital, says: “With a strong mix of professionals, families and active older residents, Solihull is an ideal location for Fitness Worx’s next move. This new facility represents another major step in expanding the brand’s reach and reputation and will cement its position as one of the region’s leading independent fitness providers.”

David Tindall, Senior Investment Manager, British Business Bank, said: “Fitness Worx has continued to grow and build a loyal membership base since it was founded over a decade ago. It has established itself as a valued part of the local community. The Midlands Engine Investment Fund II is proud to continue supporting the business through this latest round of funding, helping Fitness Worx capitalise on its growth.”

The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides equity investment up to £5m and debt finance from £25k to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.