BLOK successfully raised £750,000

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118%

Raised: £891,790

Investors: 571

Target: £750,000

Equity: 8.58%

Pre-money valuation: £9,500,000

BLOK is one of London’s leading boutique class based gyms, combining fitness with art, design, and fashion. The company runs 2 sites generating £122k revenue in March 2018, up 92% YOY. Terms are already agreed for the 3rd site in central Manchester, with the aim to expand to 6 UK sites by 2020.

2 London sites in Clapton and Shoreditch, 3rd site planned for Manchester Q4 18
Quoted as "The World's Most Motivating Fitness Studio" (ELLE)
UK fitness market is worth £4.7 billion with over 9.7 million members
Featured in ELLE, Wallpaper, Tatler, Vogue, Harpers, Mens Health

Idea

BLOK is a boutique gym launched in Clapton, Hackney in Q1 2016 and has just opened in Shoreditch, on the edge of the City of London.

Revenue streams include classes, workshops, personal training, merchandise/retail, food/drink and event/location hire. In 2017, we turned over £825k (EBITDA £148.5k) and generated £122K revenue in March 18, up 92% yoy.

We have seen international press acclaim since launch. BLOK's loyal community includes celebrities and influencers who actively promote BLOK on social media, strengthening the brand and driving footfall. BLOK has hosted global stars such as Anthony Joshua, Jourdan Dunn, Kayla Itsines, Conor Benn and Alicia Vikander and has featured on Britain's Next Top Model and Made in Chelsea.

BLOK hosts shoots and events from the world’s major sport and leisure brands, generating £92k additional revenue in 2017 and creating global exposure for the BLOK brand. Hosted brands include Nike, Adidas, Reebok, Under Armour, Puma, Lucozade, Smart Water and Warner Bros.

BLOK Manchester is due to open Q4 2018, 1 min from Manchester Piccadilly, with 3 large studios and capacity equal to BLOK Shoreditch.

We are seeking investment to open further UK sites and to expand across Europe and the US.

Disclosure: loans exist.

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Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

BLOK has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.

Idea

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