Perth-founded group fitness studio S30 Studio has announced a $2.2 million backing from Collab Capital.
The news comes following the opening of its first Queensland studio earlier in the year, alongside a new studio in Cockburn last month.
The franchise model launched just over a year ago, with six franchise owners already.
S30 has seen its footprint tripled over the past year The new investment will be utilised to spur their national expansion plans with more studios planned for Queensland, New South Wales and Victoria.
S30 launched its first studio in Perth back in 2019 to challenge the status quo and stigma that is associated with group-based training. It now delivers fully immersive group hybrid training experiences to its members.
Luke Faulkner, S30 General Manager and Co-Founder, said the company has experienced an unprecedented number of enquirers for its franchises.
“As we officially open the doors to our sixth Australian studio, S30 is at an exciting point in its expansion journey,” said Mr Faulkner.
We have tripled our footprint in the last twelve months alone and are now in a position to deliver a national network rollout and meet the demand we’ve seen in our franchise offering to date. With the support of our partners at Collab Capital we are primed to continue our expansion and already have a handful of new studios earmarked across the eastern seaboard that are set to open later this year.
Luke Faulkner, S30
“This will bring our total studio count to the double digits.”
“S30 has been on an ambitious growth journey since its inception, and with the COVID-19 pandemic now behind us we’re full steam ahead in sharing the immersive S30 experience that our members have grown to love.
“Together with our franchise partners, we plan to reinvigorate the excitement of training for everyday Australians. With a record number of OG memberships pre-sold, the opening of our Cockburn studio was highly anticipated in the local community.
“With record sign ups, we’re pleased to share that our Cockburn franchise has opened up cash flow positive, which is a huge achievement for the team as a whole.”
John Zendler, Collab Capital Managing Director, said there were a number of unique selling points in S30’s offering and structure, which had sodified the opportunity to support the company with capital.
“The team at Collab Capital are proud to be supporting S30 with the company’s expansion as it continues to grow and build its reputation as a leading fitness franchise group. We recognise the vast growth potential of S30 and are excited to be part of it all,” said Mr Zendler.
