Thesis
Inactive lifestyles have driven a rise in obesity and chronic health conditions. Currently, more than half the population of Spain is overweight, and 1 in 6 is obese. There is an ever-growing need to broaden access to low-cost, high quality fitness facilities, a segment of the market which is growing rapidly. Enabling greater gym accessibility for people and communities can help to provide the tools and environment to pursue an active lifestyle, improving overall health and well-being. Bridges’ extensive experience within the low-cost gym market, thanks to our previous investments in The Gym Group (UK) and Impact Fitness (US), gives us a strong competitive advantage in this space.
Investment
Viva Gym Group – a combination of Viva Gym in Spain and Portugal’s Fitness Hut – is an affordable, highly accessible gym concept that enables lower-income members of the Spanish and Portuguese population to exercise, leading to a healthier lifestyle and reduced risk of chronic disease. Viva’s high-quality, flexible offering and duration sets it apart in the market, as shown by its rapid response to the Covid-19 pandemic in supporting members and non-members to exercise at home.
Outcomes
Viva’s no-contract membership policy and low price point has enabled it to open up gym membership to a new demographic: a third of its new joiners in Spain since inception had not been members of a gym before. Its offering – which combines cardio equipment, weights and instructor-led classes – has also allowed it to attract men and women in equal numbers.
Viva’s innovative approach meant it was the first gym in Iberia to offer on-demand classes online during the pandemic.
www.vivagym.es
