Stelios muscles in on gym sector
EasyJet founder Stelios Haji-Ioannou is to launch no-frills fitness club chain easyGym this summer after the venture secured its first two sites.
The serial entrepreneur's foray into the fitness sector comes after he teamed up with private equity-backed Fore Fitness last year.
EasyGym will shun luxury offerings, such as swimming pools and saunas, to offer basic gym facilities with membership costing from £15 a month.
Users will be able to sign up on a month-by-month basis, instead of being tied in for a year, with pay-as-you-go additions such as classes and personal trainer sessions.
The business will open this summer after taking on two sites in Slough and Wood Green in London from Virgin Active.
The Slough gym will open in June, followed by Wood Green in July and members will be able to sign up from April 15, when the website goes live.
Paul Lorimer-Wing, joint chief executive of easyGym, said: "We're ripping up the rule-book in the fitness sector by ensuring members pay for the stuff they use, not the stuff they never use."
The group hopes to launch further clubs in 2011, building up to 10 a year across the UK from 2012 - with Europe also in its sights.
Fore Fitness, which is an offshoot of venture capital firm Fore Capital Partners, has arranged a brand licensing deal to use the 'easy' name for the business.