ESP Fitness, a designer and supplier of sports and fitness training facilities, has embraced the challenges presented by the pandemic by transforming its business strategy with the support of a six-figure loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS).
Based in Loughborough, the business designs and installs training facilities and gym equipment. Before the pandemic, ESP Fitness focused on the commercial and pro-sport markets, where its clients include Manchester City FC; Liverpool F.C; The FA at St. George’s Park; the UFC Performance Institute in Las Vegas; Virgin Active and the Union Cycliste Internationale (UCI) World Cycling Centre in Switzerland.
ESP adapted to the changes in demand by pivoting its business from B2B to B2C to serve the home fitness market, where the demand for high-quality gym equipment has escalated in recent months. The business has used the funding from HSBC UK to help purchase larger quantities of stock to meet the surge in demand.
Since making fundamental changes to its business in March, ESP has completed over 40 home gym installations for clients including professional athletes Lewis Hamilton MBE; Mo Sala; Katarina Johnson-Thompson; Rio Ferdinand; Sir Chris Hoy and ex-SAS, Ant Middleton.
Dr. Vern Neville, Managing Partner at ESP Fitness, said: “The sports and fitness industry was put on hold as a result of Covid-19. All our customers had to close their operations so we adopted a new strategy to overcome the challenges presented by the pandemic and to meet the needs of the home gym user. We’re now expecting the home fitness market to grow even more as we see new trends come to the fore.
“I would like to thank our Relationship Manager at HSBC UK, Dan Pawar, who understood our ambitious plan and was able to provide funding in a timely manner as we quickly reacted to the demand.”
David Tomlinson, HSBC UK East Midlands Area Director, added: “HSBC UK is committed to supporting its customers during this period of uncertainty. The sports and fitness industry has been undoubtedly affected by the pandemic and the future still remains unclear. It’s great to see a forward-thinking and innovative business like ESP succeed in such challenging conditions.”
Over the past few months ESP has installed up to seven home gyms a week throughout the UK. Every home gym is designed by ESP Fitness and the equipment is manufactured locally in their factories in Leicester and Nottingham.