Lift Brands raise $3.3m to invest in Brisbane gym franchise Fitstop’s expansion into the US

A Brisbane-based gym franchise business which started in the founder’s parents’ garage nine years ago has been given the financial backing of a global fitness giant to expand into the US.

Fitstop's Rebecca and Peter Hull.

A global fitness giant has backed growing Brisbane gym franchise Fitstop’s expansion plans into the North American market.

Fitstop founder and managing director Peter Hull said Lift Brands $3.3m capital injection follows on from the company securing a 30 per cent stake in the business early last year.

The latest funding will be used for Fitstop’s US expansion including establishing the 10 locations already secured with business owners across California.

Mr Hull said the fitness culture in the US, particularly California, was synonymous with the growth in performance-based training in Australia.

“It’s a market ripe for our brand, they enjoy an outdoor lifestyle, a love of fitness and sport, and there is a desire for fitness training that provides progression, strength and conditioning among a like-minded community,” he said.

Fitstop founder and managing director Peter Hull.

Mr Hull and his wife Rebecca started what was to become Fitsop in the garage of his parents’ home in Mt Cotton nine years ago before officially launching in 2017.

The company closed off the last financial year racking up $37m in turnover, 70 per cent membership growth and five months ahead of forecast with 60 per cent growth in franchise locations across Australia and New Zealand.

Fitstop now has 85 locations and last month landed a partnership with Vytality Group which will see a further 80 locations open in the NSW market, which will be in addition to the 160 locations in the pipeline in 2022-23.

The athlete-inspired fitness franchise has also continued to attract high-profile athletes such as former Wallaby Dane Haylett-Petty and All Black Brendon Leonard as franchisees and signed up more than 17,000 members for its performance-based training system.

“Our investors have continued to be impressed with how we’ve positioned the business for growth, investing in a purpose built model with the ability to scale – and its given us results – our franchise growth is ahead of forecast with a NZ and NSW market expansion,” Mr Hull said.

“We have a unique combination, firstly of custom technology built for owner operators to drive business performance and manage memberships, this has attracted passionate business owners.

“Secondly, Fitstop’s DNA is partnering with franchise owners who are equally passionate about fitness, moving more, living life and performing at your best – it is the strength behind building a dedicated community and seeing progression.”

The brand has appointed a new executive team to lead the brand into New Zealand, Asia and US markets. Fitstop’s headquarters will remain in East Brisbane.