Melbourne Australia-based women-only health club franchise Fernwood is to divest its interest in its 18 company-owned clubs.
Founder and executive chair Diana Williams said: “Fernwood is best suited to franchising given that our model is so heavily focused on servicing our members.
"By divesting our interest in the 18 company-owned clubs we will be able to focus all our resources into growth, both domestically and internationally, through innovation, expansion and technology.”
While focusing heavily on domestic expansion, Fernwood also aims to appoint master franchises in the UAE, Canada, North America, Malaysia, India and South Africa initially and will be seeking an international development manager to spearhead this growth in the near future.
The group was established in 1989 in Victoria and now has more than 80,000 members in 73 clubs – all of around 1,000sq ft (92sq m) – with an annual turnover in excess of AUS$90m (£36m, 54m euro, US$69m).
“This is a great opportunity for people to have equity in a major national brand,” said Williams – who won the Telstra Business Woman of the Year Award in 2005. “Profitability of our franchised clubs is 65 per cent higher than that of company owned clubs.” Details: www.fernwoodfitness.com.au
Photograph: Fernwood Founder Diana Williams
