AJ Bell co-founder Andy Bell invests £1m in fitness franchise Transform Hub

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Andy Bell, co-founder of AJ Bell, invests £1 million in boutique fitness franchise Transform Hub

  • Andy Bell and Fergus Lyons have backed Transform Hub with £1 million
  • Transform Hub operates 20 boutique group training studios with 50 employees
  • The team aims to employ 300 people at 100 locations by 2025

DIY investment platform co-founder AJ Bell has invested £1 million in a fitness franchise as he continues his strategy of betting on companies focused on wellbeing and health.

Andy Bell, who stepped down as CEO of investment group FTSE 250 UK in June last year after leading it for 27 years, is supporting Transform Hub alongside Fergus Lyons, a former executive at AJ Bell.

Transform Hub currently operates 20 boutique group training studios across the North West, Yorkshire and London, employing 50 staff. Locations include Knutsford, Bury and Burnley – with a studio in Altrincham opening later this year.

Investment: Andy Bell (left) with Transform Hub founder James Calderbank, co-founder Wendy Barker, and former AJ Bell executive Fergus Lyons

The company was launched in 2018 by personal trainer and body transformation expert James Calderbank before moving to a new franchise model in 2020 as gyms were forced to close during the pandemic.

Together with co-founders Wendy Barker and Justin Devonshire, Calderbank has relaunched a plug-and-play model that they say allows franchisees to create a profitable Transform Hub in as little as three months.

The £1 million investment will be spent on acquiring new franchise locations, with the team aiming to employ 300 people across 100 locations by 2025.

The idea behind Transform Hub is “to help busy men and women completely transform their lives without fad diets, endless hours of ineffective exercise and wasted gym memberships,” according to the website.

The studios organize group training aimed at people over 30, where members receive personal support from expert coaches.

Members also receive nutrition plans and are accountable to coaches with weekly calls on their progress.

If members don’t show up for classes, they will be contacted to get them back into the Hub.

Calderbank, 30, said: ‘Our studios are mostly single-sex, and we’re seeing strong demand for both male and female hubs, with community and nutritional support ranking high on the reasons we’re so popular.’

He added: ‘We knew personal training would be in high demand post-lockdown and our franchise model allows owners to focus on running their own personal studios.’

Members receive nutrition plans and are accountable to coaches about their progress

AJ Bell’s former boss explained his reasons for investing, saying, “The impressive growth Transform Hub has experienced made this an easy investment decision. The potential to scale further through a focus on new franchisees is really exciting.

“We were also impressed with the team’s resilience to pivot during Covid-19 and launch a group service that promotes positive change, both physically and mentally.

“This commitment to helping others was part of our decision to invest, and was also an attractive overall package.”

With the Transform Hub deal, Bell and Lyons will each take a 12.5 percent stake in the company, with the current founders retaining 75 percent ownership.

It comes six months after the pair invested £1.2 million in Fuel Hub, a healthy meal delivery start-up founded by retired professional rugby player James Laithwaite and his wife.

Lyons said, “The traditional gym model doesn’t work for everyone and the level of care, support and accountability Hubs gives to members has been a big contributor to the success story so far.”

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