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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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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.