Like all good champions, the founders of UBX have their eyes on the big prize – to be the biggest and the best. And they are well on the way to achieving this ambition.
Co-founders pro-boxer Danny Green, and entrepreneur Tim West, started this Aussie boxing business with a humble goal.
“We originally set out to open 10 clubs,” says Tim.
The pair has an impressive 105 gyms open or in pre-sale and a further 405 new gyms contracted through partners globally.
“Demand has well and truly exceeded expectations! We are on track to be the biggest boxing provider in the world next year,” he says.
UBX plans global community
The UBX model was designed to disrupt and challenge incumbent operators in mature fitness markets providing functional strength, cycle (spin), yoga, Pilates, and boxing.
“UBX provides world class boxing and strength workouts in a format that is convenient, science based and fun,” says Tim.
“Our little mission is to give everyone the opportunity to train like a boxer without stepping into the ring. We want to create the largest boxing community worldwide.”
UBX is now pumped up for global growth, extending its successful fitness concept to more overseas destinations after cementing its expansion in New Zealand and Singapore.
This year the growth trajectory is even bigger and bolder.
UBX has taken its boutique business to the boxing heartland, the UK and Ireland, and a US launch is just weeks away.
UBX US clubs ready to launch
In early June, UBX will unveil its first US gym in Larchmont, New York, the first direct regional expansion since Singapore in 2019.
“We are managing this launch and expansion ourselves,” explains Tim. “We will focus initially on the New York tri-state (New York, Connecticut New Jersey), then expand into Florida.”
UBX is in the process of starting a growth capital raise to build up a large, dedicated North American support team over the next five years.
“It will initially be based in New York where our first team members and franchisees are located but given the size of the US, we will also require additional satellite teams,” reveals Tim.
“Boxing is experiencing a new golden era and demand follows public interest. This is a great time to enter the US fitness arena with a proven boxing product.
Huge potential for UBX overseas
“The US fitness market is larger than the rest of the world combined, and 10 times that of Australia,” Tim reveals.
“We believe there is the potential to open more than 1000 gyms over time. The great thing about boxing is that it is one of the oldest sports in the world and still growing. Our mission is to give everyone the opportunity to train like a boxer and being successful in the US is a key step to achieving this.”
UK, Ireland market
The British and Irish expansion is part of an exciting £50 million, 250-gym deal with local business, Empowered Brands.
In March 2023 UBX gyms opened in two cities with proud boxing histories: Manchester and Dublin.
Tim believes the UK’s affinity with boxing as a professional sport will play well for the brand.
“The UK is the homeland of boxing, so there is a natural cultural fit. The UK and Australia share similar fitness demographics and we identified significant target market crossover,” he says.
The unit economics also put UBX in a strong position to attract UK investment.
“We have similar staff costs, and our breakeven points suit the economic climate,” he adds.
“Launching in the UK just made perfect sense.”
Japan boosts Asian market for UBX
UBX has spotted the potential in Japan too and signed a massive 10-year agreement with the Prova Group. The boxing franchise will license a minimum of 145 new studios over the next decade.
Japan is another significant consumer market, Tim points out. “It has produced some of the best lightweight boxers in the world such as current bantamweight champion, Takuma Inoue.
“If you consider boxing as a martial art, with the skill development and group exercise that entails, it is a perfect fit for the culture.”
The UBX model’s efficiencies per square metre also make it an attractive business proposition for a country with space constraints.
The first three UBX studios will open in Tokyo in August and September.
UBX US, UK, Japan… boxing has global appeal
Asia Pacific, Europe, and North America are the focal points for the brand’s immediate development. On top of the two launches in Manchester and Dublin, Empowered Brands has another 12 sites scheduled to open their doors this year across the UK.
There is plenty of potential for the brand to continue its growth trajectory,
“New Zealand’s optimum number of sites is about 20-25, and Singapore can cater for 10-15 clubs. Australia will mature at about 150 clubs, which we will achieve within five years,” says Tim.
Boxing has global appeal as a staple in the fitness market, alongside strength training, cycling, and running, says Tim.
“Boxing is one of the thoroughbreds. There are trends and spin-offs in the fitness arena, and a maturing of the boutique fitness space. We happen to be very efficient in our model, with cost and space limitations that make UBX an appealing investment,” he says.