Focused: Fitness Center DiR Now Overfunding on Crowdcube Spain

dirDuring the last week Spanish fitness center DiR‘s crowdfunding campaign has gained traction. With 18 days remaining on its Crowdcube Spain campaign, the fitness center chain DiR founded in Barcelona by CEO Ramon Canela in 1979 is now 120% overfunding, having raised over 432,475€ of its initial 360,000€ goal. The largest investment to date has been 10,080€, with over 112 investors supporting the campaign. Funding from the campaign will be used for DiR’s new Mallorca studio, the company’s 2oth.

“The Grupo Dir team has executed a great raise in just 3 weeks,” commented Crowdcube Spain’s Pepe Borrell. “We’re delighted to work with a leading company in the Spanish fitness sector. This is a great example of how we’re building confidence among medium-size companies.”

DiR Mallorca campaign picked its location after taking the target population of the area, including population density, services in the neighborhood or district, gender and average purchasing power, competition into consideration. These studies were elaborated qualitatively through specialized software.  The new DiR facility is located right beside the recently renovated and modernized Mercat del Ninot, and has an estimated influx of more than 3,000 people daily, DiR’s targeted demographic. The high number of shops in the area, public transport connections and the proximity to the city center were essential to determining the location’s suitability, according to the campaign.

dirTo recap, DiR counts more than 70,000 members and more than 650 technicians with diversified services including nutrition, physical therapy/osteopathy and beauty treatments as part of its team. 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 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, according to the campaign.

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.

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