Latest News

Back to Latest News back

 

Fitstop Australia co-founders to split

Fitstop Australia co-founders to split
January 21, 2021

Reports suggest that Peter Hull and Richard Bell, the co-founders of the fast-growing Fitstop Australia brand are to separate the business with Bell to leave the franchise.

Having started the business in a Brisbane garage, then opening their first studio in Morningside in 2017, the franchise has now more than 42 franchised facilities across the country.

Having secured $1.4 million in investment funding in early 2019, the innovative gym concept then engaged Stuart Cook, the former head of fast-food group Zambrero, to serve as a Director and company Chairman nearly two years ago.

Hull came to the business via a background as a personal trainer, while Bell is a Sydney-based investor through his company Business Leaderz Group Pty Ltd.

The two met through a business education program and subsequently launched their functional training concept, which included group classes that combined strength, high intensity and cardio elements, as well as nutritional advice and multi-week challenges.

As reported by City Beat in Brisbane newspaper The Courier-Mail, Bell confirmed that he is now in the process of exiting the business, suggesting that that Bell, who remains a shareholder in Fitstop, will leave with a payment of nearly $500,000 to be paid in instalments over several years.

City Beat indicated that there had been a dispute over Fitstop’s contract with Bell’s firm to provide training to franchisees in person

Acknowledging only that “differing opinions’’ had arisen ahead of his decision to leave, Bell stated “for us, I think the strategic vision for the business may have differed.

“I think it’s an incredible company with amazing franchises and I wish Peter and the team all the best.’’

Hull, who did not comment on the split, hinted at “some really exciting things’’ ahead for the business saying it aims to open another 40 franchised gyms this calendar year.

Image: Fitstop co-founder Peter Hull.

Related Articles

12th January 2021 - Masks compulsory in Brisbane fitness and sport centres

4th January 2021 - Fitness Australia calls for Federal government to introduce national plan to improve physical activity rates

22nd December 2020 - Peloton announces US$420 million acquisition of fitness equipment brand Precor

16th December 2020 - Survey finds online fitness no replacement for real life connection

2nd December 2020 - Victorian fitness operators call for end to gym restrictions

22nd November 2020 - IHRSA survey highlights users’ sentiments on the essential role of fitness clubs

8th November 2020 - Victoria set to enter ‘Last Step’ measures from 22nd November

19th August 2020 - FITREC highlights ‘heartbreaking’ impact of Victoria’s Coronavirus lockdown

9th July 2020 - 9Round looks for franchise expansion in Indonesia and Vietnam

26th November 2019 - AlphaFit share advice on Commercial Gym Flooring

19th September 2019 - Fitstop to highlight business opportunities at The Fitness Show in Melbourne

12th September 2019 - Fitstop doubles studio numbers in just two years

1st August 2019 - Asia-Pacific markets targeted by USA fitness franchises

15th July 2019 - Fitstop expansion continues in Melbourne

4th May 2019 - Fast growing Fitstop opens first functional training facility in Melbourne

29th April 2019 - Fitstop eyes Australia-wide franchise expansion

8th January 2019 - Investor named Chairman of expanding Fitstop Australia

27th April 2018 - Fitstop gets backing from payment solutions provider


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

The P.A. People

The P.A. People is a specialist integrator and contractor in sound reinforcement, audio visual systems, performance lighting and production communications. Over its almost 50 year history the company…

read more

Entertainment / Events / Sport / Technology / Venues

 
 

Smart Connection Consultancy

Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…

read more

Consultants / Recreation / Sport / Surfaces

 
 

SWIMPLEX AQUATICS

Swimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…

read more

Aquatics / Attractions / Design / Play / Waterparks

 
 

TECHNOGYM AUSTRALIA

Technogym is the leading company in the Wellness and Fitness field all over the world. With 2,200 employees, 14 branches in Europe, U.S., South America, Asia  and Australia, Technogym exports its…

read more

Fitness / Technology / Wellness

 
 

Envibe

With its sleek good looks and easy-to-use yet powerful functionality, Envibe is the premium fitness club software for the Australasian leisure, recreation and fitness industry. We are the most…

read more

Aquatics / Fitness / Recreation / Technology

 
 

GREENEDESK

Track. Engage. Retain GreeneDesk is a suite of cloud based software solutions helping health clubs, leisure centres and swim schools to effectively track progression, improve customer engagement and…

read more

Aquatics / Billing / Education / Fitness / Technology

 
 

Centaman Entrance Control

Turnstile Entry Systems and Access Control Centaman Entrance Controls’ Award Winning Range of Access Control Systems includes tripod & triarm turnstiles, speedgates, full height…

read more

Access / Entertainment / Sport / Ticketing / Venues

 
 

Intelligenz

Intelligenz provides Leisure Management Software for managing all your Program Registrations, Facility Bookings, Membership Sales and POS Transactions; including detailed Reporting, automated…

read more

Access / Billing / Finance / Marketing / Technology

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business