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Chief Development Officer - Franchising

New England, USA ● Washington, DC, USA ● Virtual Req #12433
07 December 2023

The PureGym Group is the market leader in the UK Gyms and Fitness sector, and the 2nd largest operator of gyms in Europe within 10 years of being a start-up. With over 550 gyms across the Group Estate, the Group’s footprint currently reaches from the UK to the USA, Kingdom of Saudi Arabia, Switzerland and Denmark. Our growth plans include disrupting new markets globally and going from strength to strength with the recent PE injection. We are backed by Leonard Green and Partners, a US private equity fund, and at the end of 2021 we secured an additional equity injection of £300m from new shareholders KKR, giving us significant funding and total liquidity of around £500m, to fulfil our ambitious growth plans.

Our future Group growth strategy is clear, we aim to invest in new sites in the UK and Switzerland, invest to strengthen Denmark and accelerate growth through Franchise in the Middle East / Asia and the USA.

Our Franchise Operation currently consists of 20 gyms (as of October 2023), which operate out of Saudi Arabia (18) and United Arab Emirates (2), operated by a Master Franchisor who have signed a deal to open 130 gyms in the MENA area by 2027, which we are on course to achieve. Our target markets for expansion are ASEAN, India and USA.

We now need to accelerate our ability to attract franchise partners in the US therefore, we are in search of a Chief Development Officer to help us achieve our US franchise targets. With 3 owned sites around the DC area (branded as PureFitness), the Chief Development Officer will be tasked with signing partners by the end of 2024.

The Role

 

Business Development

  • Develop and execute a comprehensive franchise growth strategy that aligns with the company’s overall business objectives
  • Develop reports and investment presentations to the Senior Leadership Team and Board
  • Generate pipeline of potential deals with potential franchise partners and identify new business opportunities to expand
  • Leverage existing franchisee relationships for business development opportunities
  • Lead franchise sales efforts, including negotiation and closing of franchise agreements, while ensuring alignment with the company’s standards and goals
  • Conduct market research to identify growth opportunities and assess market trends, competitive landscapes, and potential locations for new franchises

Reporting

  • Make recommendations on how to promote growth and profitability
  • Make data-driven recommendations for profitability improvement
  • Analyse potential franchisees’ financial performance and make recommendations accordingly
  • Regularly report on franchise development progress, financial performance, and key metrics to senior management

Collaboration

  • Partner with Finance to create business model for the institutional development
  • Provide US analytical support to the Franchise team based in the UK
  • Collaborate with the international operations team to support franchise growth initiatives

 

The Person

 

 

  • Proven experience in franchise development or similar, and experience in selling/getting investment in $750-$1.5million franchise investments
  • Has a deep understanding of financing, debt structuring, and investment to be able to communicate with CFO’s, investment advisors, banks and other financial institutions credibility. Equally should be able to communicate to the non-financial person in a clear, easy to understand manner.
  • Has a current and deep “black book” of contacts across the investment world (PE, family office, seed funds, HNW’s), multi-site franchise owner operators, and other aligned industry sectors that they can mine
  • Strong understanding of franchise operations, business models and legal requirements
  • Excellent negotiation, communication and interpersonal skills
  • Ability to travel as needed to meet potential franchisees and oversee franchise locations
  • Strong analytical and financial skills for evaluating potential franchise opportunities
  • Exceptional strategic planning ability
  • Understand and have experience in the process of attracting multi-unit franchisees (MUF’s) and has the ability to highlight the gaps/weaknesses in the current process and correct them. (i.e selling collateral, marketing channels, tone of voice for the US market, financial statements etc).
  • Has a sales hunter mentality – dogmatically keeps going and follows every lead up until it is ruled out. Finds way of seeking out new leads. Creates new relationships easily. Great and efficient networker.

 

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Other details

  • Pay Type Salary
Location on Google Maps
  • New England, USA
  • Washington, DC, USA
  • Virtual