The Shredquarters expands into London, unveils international growth plans
Fast-growing functional training franchise The Shredquarters has entered the London market with the opening of sites in Fulham and Walton-on-Thames.
The Fulham site – a 2,500sq ft basement space – is the second location for Shredquarters’ original franchisee, following the successful opening of the first Shredquarters franchise in Twyford in September 2020.
Meanwhile Walton-on-Thames is a 4,000sq ft, glass-fronted space on the ground floor of a new apartment block that boasts a prime location at the intersection of four main roads. This is the first site for a new franchisee, with a second already being explored in Kingston.
Both sites opened in January 2022.
A fourth deal for London has also been signed, with a member of the Twyford club now set to open their own Shredquarters in Brentford or Chiswick.
“Because of the way we work with Physical Company, bespoking layouts and even equipment to the needs of each location, we really can look at any open-space site, fitting the offering to the available space,” says Shredquarters founder Adam Waters.
Shredquarters’ growth continues outside of London, too, with the opening of a Guildford site earlier this year, and with clubs in Beaconsfield and Oxford scheduled for imminent launch. Kingston is set to follow in mid-2022, taking the Shredquarters estate to 11 locations – including Waters’ own inaugural club in Reading – based purely on the current pipeline.
“We’re confident the pipeline will see further rapid growth as the market continues to recover,” comments Waters. “We’ve already seen members rush to return for the atmosphere, instruction, motivation and community of our in-person experience, which really can’t be replicated at home, and we’re seeing high levels of interest from new franchisees.
Shredquarters’ growth comes in spite of the franchise only launching during COVID-hit 2020, and Waters attributes this success to the brand’s highly transparent, affordable model.
“Our ethos is all about getting franchisees up and running and turning a profit,” he says. “We ripped up the rule book that says you should make money from your franchisees upfront – charging a mark-up on kit and so on – because that isn’t how we believe franchising should be done.
“Ultimately, we want our franchisees to quickly enjoy a great return on investment. We want them to succeed. That’s good for them, good for our brand, and ultimately the right thing to do.
“Put simply, we’re out to do things differently. Without naming names, we’re dramatically cheaper than our main rivals – for something we believe is actually a superior product – and we’re after the incumbent’s crown!”
“It’s hugely exciting to be on this journey with Adam and the team at Shredquarters,” concludes Physical account manager Paul Farrell.
“We’re hearing first-hand how delighted franchisees are to be onboard with the Shredquarters brand and product, and we’re delighted to have signed a five-year exclusivity agreement with this dynamic brand.
“Shredquarters is a great example of our ability to deliver everything an operator needs for its fitness floor, helping create an exceptional workout experience whatever the available space.
“We’re very much looking forward to continuing to support this fantastic ‘made in Britain’ growth story.”