The S30 hybrid group training franchise lands a $2.2 million investment in a private capital raise.
Funding was secured from the newly-established investment group Collab Capital.
Collab Capital managing director John Zendler said S30 has unique selling points.
S30 funding secured off unique business model
“The team at Collab Capital are proud to be supporting S30 with the company’s expansion as it continues to grow and build its reputation as a leading fitness franchise group. We recognise the vast growth potential of S30 and are excited to be part of it all,” said Zendler.
Based in Western Australia, the S30 fitness chain recently opened its first Queensland studio in Browns Plains.
The $2.2 million injection also coincides with the opening of S30’s fifth studio in Western Australia, S30 Cockburn.
With the new outlets, S30’s footprint stands at six studios and further studios are in the pipeline for opening this year.
New S30 studios are earmarked for Sydney, Brisbane and Perth later.
Capital injection will help S30 expand nationally
S30 Studio launched its first location in Perth in 2019 and introduced the franchise model last year.
Co-founder and S30 general manager Luke Faulkner said the business has since grown at a rapid rate.
“As we officially open the doors to our sixth Australian studio, S30 is at an exciting point in its expansion journey.
“We have tripled our footprint in the last 12 months alone and are now in a position to deliver a national network rollout,” he said. “With the support of our partners at Collab Capital we are primed to continue our expansion,” he said.
“S30 has been on an ambitious growth journey since its inception. Together with our franchise partners, we plan to reinvigorate the excitement of training for everyday Australians.
“Our Cockburn franchise has opened up cash flow positive, which is a huge achievement,” said Faulkner.