Funding supports new gym opening

A bespoke gym has opened in East Devon after bank funding was arranged by Honiton-headquartered Griffin Chartered Accountants.

Health and fitness entrepreneur Craig Bernhardt of B Health & Fitness, who already has a successful gym in Dorset, was initially turned down for funding by his bank.

Graham Higgins from Griffin subsequently helped to develop the business plan and facilitate discussions with other banks.

The first bank approached was HSBC, which agreed to funds of £175,000.

With additional funding for the venture secured through private investors, the gym fitout went ahead in time for the planned opening at the start of the new year, including the installation of a mezzanine floor, changing rooms and studio, and the purchase of state of the art gym equipment.

Bernhardt said: “Griffin’s support has been second to none and when I needed help in compiling a business plan for my expansion, Graham Higgins was superb.”

Founded in 2015, Griffin is experiencing rapid growth and is currently seeking three new employees to add to its team of eight managing the company’s expanding portfolio.