With 30 days remaining on its Crowdcube Spain campaign, the Barcelona fitness center chain DiR founded by CEO Ramon Canela in 1979 is going strong. Over 40% of the 360,000€ has been reached, just over 150K€ secured from over 48 investors. The largest investment to date has been 10,020€.
With this campaign DiR is raising funds for a new studio, the center’s 2oth, in Mallorca. Curently DiR counts more than 70,000 members and more than 650 technicians with diversified services including nutrition, physical therapy/osteopathy and beauty treatments. The fitness centers boast state-of-the-art equipment, more than 50 different activities, many of them 100% DiR creation, functional and metabolic training, and new service proposals to engage clients. DiR also offers continuing education, branded L’Akdemia DiR, for its staff. Founder Canela has worked as DiR’s director, opening 19 fitness, yoga and paddle centers. He has been a member of the Chamber of Commerce of Catalonia and vice-president of the Barcelona Football Foundation.
“The choice of DiR Mallorca has been made taking into account several variables that allow us to determine the target population of the area: population density, services in the neighborhood or district, gender, average purchasing power, competition, among other values. These studies are elaborated qualitatively through specialized software,” according to the campaign. “The new club is located right in front of a market, Mercat del Ninot, which has been recently renovated and modernized, and has an estimated influx of more than 3,000 people daily, who are the target audience of our center. At the same time, the high number of shops in the area, public transport facilities and the proximity to the city center (only 5 minutes away), allow us to determine the suitability of the location.”
DiR is offering a 3% annual return on the initial investment, as well as the option of repurchasing the shares to the partners – with a minimum IRR of 10% or a multiple of EBITDA of 10 times – as long as the company has distributable profits. In addition, by investing in the capital of DiR Mallorca investors may opt for different direct rewards, from which any Investor can benefit in the different DiR centers.
The fitness center has also included incentives in its campaign, ranging from free registration in the current DiR centers and a 5% discount in the monthly payment with a 120 € investment to four VIP cards for full membership in 17 clubs with a 20,040€ investment. For more financial and campaign information, click here.
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