Fitness chain LTYB (Listen To Your Body) is poised to start building work on its first Sydney site. The launch will be the sixth interstate gym for the Victorian-based franchise chain, and marks the brand’s entry into New South Wales.
LTYB founder Ben Fletcher told Franchise Executives “We were recruiting in the area last year and landed a site in Brookvale about five months ago. Building starts next week for an 11 March open”.
The Northern Beaches location is an ideal spot for the launch into the eastern state, Fletcher said.
“Brookvale’s demographic matches that of our highest performing studios, and there is a lot of competition, which is a good sign the market is strong.”
The incoming franchisee will sub-lease space to complementary businesses which is a format common among LTYB’s gyms.
Maximising the space
Fletcher said “We are converting a warehouse into a studio, which is a bit of a different project. The site is 373sq m and we will use 200 of that.”
The franchisee will sublease the remaining space to an allied health business such as a physio, nutritionist, massage business or osteopath.
“This will be our 18th site to open,” said Fletcher. “There’s a bit of interest at the moment in the business model.”
The LTYB expansion model is growth at a steady rate. Fletcher aims to open five sites in Sydney over the next two years.
Steady growth is the LTYB model
“The timing is good for growth right now. We had a good programming update which is making workout delivery more systemised and allows for greater growth,” said Fletcher.
There are three franchise buyers in the pipeline right now. The longer term goal is to have a total of 30 gyms open by April 2024.
“I’m quite optimistic about the fitness industry. What we are seeing in performance numbers we’ve never seen before. We’ve hit a Q2 record for the whole network. Even new studios are accelerating to a couple of hundred members very fast,” he said.
Fletcher has tweaked the recruitment profile to bring in business-focused franchisees.
“We used to look for PTs wanting to step up, now we are adding in business people with an interest in fitness. One example is James from Marden who is smashing it – he’s an accountant who loves fitness. He’s leading the charge this year so far.”
