Revenues have progressed well throughout the year with very little downturn during the summer. Annualised revenues are now approximately £3.8m which is an increase of 27% since April.
Annualised Club EBITDA has increased from approximately £360k in April to £1.3m in October. EBITDA after head office costs has now grown to an annualised £850k.
Yields have grown in the last 6 months by 9% and the all important Net Promoter Score (a score determining how likely your customer is to recommend your business) has grown from a good 54 to an even more pleasing 63. This based on an industry average of 34 is very encouraging, and aligns ourselves closer to a brand like Apple that scores 67.
So altogether a very satisfactory 6 months with further progress still to be made. The cyber Monday sale which was a 24 hour sale grossed £115k, nearly double the proceeds of last year.
Our initial attempts to go down the International franchise route have not been so successful, however we are in a much better position today than we were at the beginning of the year, so we anticipate further progress with a proven model in 2017.
The business is now approaching its second anniversary and being a new product took longer to get off the ground than we originally thought, however the progress that has been made during 2016 has been substantial. We are now very focused on the opening of new clubs and heads of terms or offers have been agreed on 3 sites to open in 2017, subject of course to raising more debt, which we believe will be available to us.
All of the above has been achieved through the loyalty and support of our Rebel Army and the dedication of the Rebel Team who continue to deliver over 900 great classes every month.
Finally we would like to thank all our shareholders for their continued support and take this opportunity to wish you all a merry Christmas.
James & Giles
1REBEL