Adam Bellamy, CFO, Pure Gym:
Pure Gym started in 2009 when our Chief Executive, Peter Roberts identified a gap in the UK market.
The proposition to the customer is high quality gym equipment, at an affordable price, with no contract, available 24 hours a day, 7 days a week.
We’re very proud of a number of things at Pure Gym, firstly the fact we’ve opened 50 gyms in under four years and we have now over a quarter of a million members and we can see ourselves getting to at least a hundred and fifty gyms within the next 2 to 3 years.
I think Barclays have been incredibly supportive to us in helping grow the business at a fast pace in a very short time, providing financing for new gyms transactional banking credit card services and a number of other areas to us.
Initially, we did four gyms and once it became apparent that those gyms had succeeded, we were pretty soon after that looking for financing and support.
Mike Delay, Relationship Director, Barclays:
They delivered to us a business plan that was very thorough, well thought out, but obviously had ambitious growth plans and with our experience in the Health and Fitness sector, as part of the wider Hospitality and Leisure sector, we were able to support them as they continue their growth plans.
The relationship Director role is essential, this is the person who is our interface with the bank understands where to access different facilities within the bank, has a great relationship with us but also understands our business very well.
To see the business grow from, from six sites to the situation where it is now makes me very proud, and to be part of that success for the business and we continue to have that support for the management team and the concept moving forward.
I think there are a number of ways in which Barclays can help us grow further, we’re moving into a whole new era of, mobile communications, social media and those are areas in which Barclays has a huge amount of resources invested. A lot of fire power, and we believe they can, offer us a lot of help in that area.
I think our relationship with Barclays is more than just one with a straightforward transactional bank; they’ve been an all-round business partner to us.