Second dragon enters the gym business


James Caan, a judge on the BBC Dragon’s Den programme is teaming up with Ben Silcox, former LA Fitness national sales manager to develop a new health and fitness club chain. Branded ‘nuyuu‘, the company has acquired its first three sites from LA Fitness. The company’s strategy looks very interesting as they are offering a mid market facilities proposition (complete with a swimming pool and vibration training at their East Grinstead, East Sussex club) for £19.99 per month (€22 euros), based on a 12-month contract.

Caan has this to say about his investment:

‘I’m delighted to be backing nuyuu. We’ve got a hugely experienced team who are dedicated to giving people what they want at a price they want, without sacrificing quality. Frankly, the gym sector is ripe for a bit of a shake up and nuyuu is a compelling proposition.’

I think the UK now has a new segment; ‘premium budget’.