Aludel, the women-only fitness-club company set up in 2001 by CEO Martin Callan, is putting out a call to investors for £4 million to fund refurbishments across its 17-club Reviva estate.

At a presentation in central London earlier this month, Callan and his investment consultants, Lion Capital Advisors and Durlacher, told potential investors of a two-phase upgrade plan.

In phase one, scheduled for September, £50,000 would be spent on a cosmetic refurbishment of each club and new Technogym equipment.

The company will then re-evaluate the estate to determine which clubs would benefit from a full refurbishment, which could cost up to £350,000 per venue.

“Fifty-five per cent of all gym users are female,” Callan told investors, “And they take a different, more holistic, approach to fitness. They want relaxation, a mind/body experience and social interaction rather than being surrounded by men dripping with sweat.

“Many of our members are inexperienced and wary, so we provide comfort and a safe environment.”

With just 3 per cent of UK women using fitness facilities, Callan believes the market will grow organically and he has identified 130 UK towns and cities which could potentially host a Reviva club.

He has drafted in a management team including former head of sales at Technogym, Daniel Clayton, as chief operating officer, Pulse Fitness’s Jonathan Wright as sales director and his daughter, Stephanie Callan, as head of HR to power an aggressive recruitment drive.

Like-for-like sales are currently 100 per cent up on last year.

The full programme of refurbishment is scheduled for completion by December 2005 and Callan intends to at least double the number of clubs by the following year, by which time EBITDA is projected to be in excess of £6 million.