Premium Boutique Fitness
Benahavís · Costa del Sol · Opening 2026
View Investment CaseThe Opportunity
No EVO Pro or MAD-level Lagree operates in the immediate area. Existing Lagree studios are located in Marbella and Nagüeles — 26–40 minutes away during normal working hours. These function as destination studios. Reformer studios are indirect competitors only. MAD Lagree Marbella is a local routine, not a destination.
The catchment extends well beyond Benahavís town to La Quinta, Los Arqueros, El Madroñal, La Zagaleta, La Heredia, Las Colinas, Monte Halcones, Atalaya, El Paraíso, Cancelada — plus inflow from Nueva Andalucía and San Pedro. A concentration of high-income residents, expats, and second-home owners who are time-sensitive and wellness-focused. Stronger demand in spring and summer; softer winter periods are modelled.
The brand is anchored in MAD London's track record — multiple successful studios, strong customer reviews, and a recognised name in premium Lagree. Weekly instructor training sessions and a design-led environment ensure class consistency. Franchise negotiations active — 23-point position submitted April 2026. All-external instructors at €27/hour; founder managing operations.
Target of 50–80 founding members pre-opening, converting existing networks (real estate, golf, school, landlord) into actual sign-ups linked to ~25–35% initial utilisation. Booking, membership, AI retention, and analytics built independently of franchise software — full data ownership from day one. Direct access, easy parking, and high visibility at The Deck, Benahavís.
| Capital raise | €320,000 |
| Use of funds | Machines · Fit-out (€90k–110k) · Working capital |
| Fit-out | €90k–110k conservative; intent to optimise |
| Machines | 8–9 EVO Pro (final layout dependent); 8–12 wk lead time |
| Royalty structure | 5% · 6% · 8% (Y1 / Y2 / Y3+) |
| Rent structure | 3 months rent-free → €1k → €2k → €3k → €4k |
| Launch schedule | 34–35 classes/week · late morning & evening focus |
| Break-even | ~45–50% utilisation · 90–120 active members |
| Pricing | €35 drop-in · intro offer · memberships €260–300+ |
| Year 1 Revenue | €285k (gradual ramp from ~28% to 60% utilisation) |
| 5-yr Enterprise Value | ~€2.8M |
| MOIC (enterprise basis) | 8.8× |
| IRR (approx.) | ~54% |
| Franchise status | Under negotiation · 23-point position submitted Apr 2026 |
| Machine financing | Full capex assumed · Santander financing as potential upside |
| Equity structure | Open — to be agreed with investor |
| Location | The Deck, Benahavís · Lease agreed · Easy parking |
| Opening target | Q3 2026 · 1–2 month delay scenario modelled |
Investor Materials
The investment memo covers market context, the operating model, unit economics, use of funds, investor returns, and franchise position in full detail. The financial model is a bottom-up, 12-tab Excel workbook with monthly P&L, scenario analysis, and a 5-year projection.
April 2026 · v4 · Strictly Confidential