Consumer >> CEO Interviews >> September 6, 1999
MIKE BALFOUR, 50, together with a business partner jointly acquired
their first health club in late 1992 with the intention of building a
large chain of health clubs based on the concept of "Affordable
Fitness". Fitness First was floated on the Alternative Investment
Market in 1996. In February 1999 Fitness First moved to the Official
List and is currently capitalised at GBP 300 million. Fitness First now
has 42 clubs in operation in the U.K. In August 1998, the Company
ventured into Europe by acquiring a 50% interest in Germany's second
largest health club operator with the objective of rolling out
affordable fitness concept in Germany. Mike Balfour, a Chartered
Accountant, gained his experience in the fitness industry as a director
of Houstonian Health & Fitness Club in Houston, Texas from 1986 to 1992
and through setting up Living Well & Leisure Limited, of which he was
Managing Director from 1988 to 1992. He also has considerable
management expertise in other areas of the leisure industry. Mike
Balfour is married with two teenage children, is a keen sailor and works
out regularly in the gym. Profile
us into context, and then bring us up to date. What do you see as your
company and as your business today?
Mr. Balfour:
