Lift Brands takes a 30 per cent stake in expanding Brisbane-based fitness trainer Fitstop

A Brisbane-based gym chain has partnered with a global fitness giant and has unveiled ambitious plans to have 100 franchises by this time next year.

One of the world’s largest fitness franchise companies Lift Brands has secured a share in a growing Australian training group that launched its first venue under a Brisbane house just eight years ago.

US-based Lift Brands has a 30 per cent share in Brisbane-based Fitstop in a strategic partnership that will fast track the expansion of the franchise fitness group.

Fitstop chief executive Peter Hull said the partnership will open Fitstop’s doors to a plethora of opportunities with access to Lift Brands’ fitness infrastructure and networks around the world.

“It’s been months in the making and we couldn’t be happier to collaborate with a network of like-minded leaders in the industry. They have taken a 30 per cent stake in the business and it really puts us on the fitness map,” he said.

“It’s so rewarding to see an international organisation recognise us as the next big player in the fitness industry, not just within Australia but around the world.

“The next phase of growth will involve looking to introduce Fitstop to the New Zealand market, followed by the UK and US which will be of a larger scale.”

Fitstop founder Peter Hull.

ince launching its franchise model in 2017, Fitstop is about to celebrate its 50th location opening, achieved an annual growth rate of 70 per cent and brought in $40m in total revenue across the network.

Mr Hull, 32, started the company with his wife Rebecca, in the garage of his parents home in Mt Cotton, southeast of Brisbane.

They launched their first franchise in Morningside and Sydney-based investor Richard Bell came into the company through his company Business Leaderz Group.

Two years ago Fitstop completed a $1.35m capital raising and engaged Stuart Cook, the former head of fast-food group Zambrero, to serve as a director and chairman.

Mr Bell left the business early this year and Mr and Mrs Hull retain a majority shareholding.

Despite the pandemic Mr Hull said pre-Covid they had 3500 members and as of June 2021 they had just over 11,000.

“Since lockdown people have come out on the other side wanting to be empowered and are more conscious of investing in their health. People want the flexibility of owning their own business, to be a part of something with a purpose rather than chasing a career they’re not inspired by anymore,” he said.

Peter Hull and Chris Cardwell.

Lift Brands is the parent company to global fitness brands, Snap Fitness, 9 Round, Fitness on Demand and YogaFit. The organisation has over 1500 clubs globally with another 300 in development across Asia Pacific.

Lift Brands chief executive Asia Pacific Chris Caldwell said Fitstop presented as a well managed business both operationally and financially.

“The performance of their individual locations is outstanding, but most of all, we are culturally aligned,” he said.

“Our values as a business, and even on a personal level, were the perfect match to Pete’s and the Fitstop team.

“The integration and connection they have with their individual franchisees is quite

special and we cannot wait to be a key partner in their growth.”

The strategic partnership will see Mr Caldwell join the Fitstop board as a non-executive director alongside Mr Hull and Mr Cook.