The Shredquarters is a functional training franchise that’s been built around a single-minded ethos of putting members and franchisees first.
Established in Reading in 2016 as a single-site independent club, it now operates as a successful franchise business that in the space of just over a year has grown to 10 locations.
This ‘made in Britain’ growth story is being steered by founder and owner Adam Waters, who has personally funded all growth. The resulting lack of investors and loans, he says, has freed him up to “tear up the rule book”.
“Our focus is on putting members first and supporting them towards the results they want,” he explains. “We’re famous for our ‘Shred’ gym floor HIIT class, but even in franchising, we believe you have to listen to members and adapt. Insisting on rigidity and processes above member satisfaction is the wrong approach. Our franchisees therefore have the autonomy to schedule additional classes around the core functional timetable.”
Waters continues: “We don’t agree with the traditional view that you should make money from your franchisees upfront. That isn’t how we think franchising should be done.”
“We’re all about getting franchisees up and running and turning a profit quickly. We want them to succeed. That’s good for them, good for our brand, and ultimately the right thing to do.”
Now eyeing UK market leadership, from the outset Waters has made a policy of being “open and honest” regarding costs, with the franchise fee consistent across the board and no mark-up charged on any equipment.
As he launched and rolled out his franchise business, he wanted a supplier who shared his ethos. His research took him to Physical as the ideal partner.
Supplying a full complement of flooring and free weights, rigs and punchbags, TRX, battle ropes, Olympic bars and storage racks, Physical is the go-to equipment partner for all Shredquarters franchises.
“By keeping things simple in terms of kit and fit-out, the investment needed to build a Shredquarters club is very reasonable,” says Waters. “We put franchisees directly in contact with Physical, too, so they get the best possible price on equipment.
“The equipment is high-quality and priced well. We’re also able to get everything we need from one supplier, including flooring, where previously we were sourcing different things from different places. That makes Physical a great partner for our franchise solution.”
The positive reputation and word-of-mouth resulting from Waters’ franchisee-first approach, and the results achieved by the first 10 sites, has led to surging interest in The Shredquarters.
Emerging from lockdown still a single-site operator, the business has already grown to 10 sites, including a number in London, with a further 10 signed and scheduled to open throughout the remainder of 2022 and into 2023. Interest also continues to flood in.”
“I believe the high level of demand for our franchise model comes down to the fact that it’s a great product – as good as anything out there – at an affordable price,” says Waters. “Our aim has always been to create a decent, honest, sustainable brand that people will actually make a living out of.”
The self-funded approach means openings will currently remain at six to eight new clubs a year. It also means international discussions have been put on-hold to ensure UK demand is met.
Yet Waters has big ambitions: “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 on a path to become UK market leader in this space. I’m confident we’ll achieve that in the next two to three years.”
As he works towards this ambition, Physical remains his supplier of choice: “I’m all about relationships, so Physical will be kitting out our franchises moving forward. They’re nice people who do what they say they’re going to do, when they say they’re going to do it.”