GymNation Members Will Soon Be Able to Own a Stake in the Company
Home-grown fitness chain introduces a groundbreaking crowdfunding scheme for its passionate members
New York, 18th January 2024, ZEX PR WIRE, GymNation, the leading fitness chain in the UAE, has announced plans to launch a crowdfunding scheme that will allow its members to become stakeholders in the company. Co-founder Loren Holland shared the exciting news, emphasizing the opportunity for members to be part of GymNation’s growth and success.
Founded in 2017, GymNation has quickly become a prominent player in the fitness industry, boasting 11 branches across the UAE with a strong community of approximately 60,000 members. As the original founders, Loren Holland, Frank Afeaki, and Anthony Martland, recently bought back all the equity from the company’s previous owner, JD Gyms, GymNation is now gearing up to involve its dedicated members in the ownership journey.
“This crowdfunding initiative will enable our members to become small shareholders, allowing them to share in the rewards of our collective growth,” stated Loren Holland. “Many of our members invest significant time and effort into their fitness journey and, by extension, into our business. Now, they have the opportunity to invest financially and be part of our continued success.”
This decision follows a strategic move by the founders to regain control of the company, backed by UAE companies Tricap Investments and Ruya Partners. In addition to the founders, 15 members of GymNation’s management team in the UAE also have a stake in the company.
GymNation, known for its commitment to democratizing the fitness industry by offering affordable gym memberships, is taking a bold step in engaging its members directly in the company’s future. The crowdfunding scheme, expected to launch early this year, aims to not only provide financial benefits but also give members a voice in shaping the business’s growth.
Loren Holland explained, “We are still fine-tuning what the crowdfunding scheme looks like, but there will be other benefits such as town halls and annual general meetings. We believe that directly involving our members in decision-making processes will be crucial to our continued success.”
As GymNation looks towards further expansion, with plans for four more branches in the UAE, six locations in Saudi Arabia, and expansion in Qatar and Bahrain, this groundbreaking move aligns with the brand’s commitment to inclusivity and accessibility in the fitness space.
GymNation, founded in 2017 by Loren Holland, Frank Afeaki, and Anthony Martland, emerged with a mission to make health and fitness accessible and affordable for all in the Middle East. With 11 branches across the UAE, GymNation offers state-of-the-art facilities and flexible, affordable membership plans, breaking barriers in the fitness industry. The forthcoming crowdfunding scheme reflects GymNation’s dedication to involving its members in the company’s success.
For more information about GymNation and its range of fitness and wellness services, please visit the company’s official website.
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