New fitness concept 1Rebel is looking to raise £1,150,000 on equity crowdfunding platform Crowdcube and they have already surpassed the half way mark standing at over£700,000 raised as of today. The campaign has attracted the interest of 61 investors so far – with a single very significant investment at £575,000 boosting the offer towards their goal. The equity offered is for 27.56% ownership in the startup. Based on their internal projections and exit plan, 1Rebel is hoping to provide investors a 6 to 12 times return. This past spring 1Rebel listed with Chancery Investment Partners seeking £2.3 million in funding.
1Rebel is a new fitness venture by the same team that founded Fitness First and Jatomi Fitness. The founders want to create a new concept for fitness to attract the millennial generation. The approach is described as “hard, fast results” inspired by the flexible studio concept similar to Soul Cycle, Barry’s and Orange Theory. 1Rebel intends on disrupting the established approach to fitness in the UK described as;
“Personal training without getting personal. A high intensity, results-driven, 1,000 calorie workout. A full body, weights and core, cycle session, half ride-half rave. Fight club. Hot yoga. What London wants, no what London is told it needs. A high-end, boutique, immersive experience with the promise of hard and fast results.”
One Rebel is led by co-founders James Balfour and Giles Dean, both of whom played roles in the growth of Jatomi Fitness, a health club venture which Mike Balfour, launched after selling out of Fitness First. Jatomi now has 64 clubs in 7 countries and over 200,000 members.
The real estate for the firs location has been secured in Shoreditch with a scheduled opening of Q4 2014.
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