Youngest UK billionaire's' rise from parents' garage to Gymshark fortune
Ben Francis has been named as the UK's youngest billionaire - and has now revealed his plans to expand his gym wear empire even further.
The chief executive of athletics and leisure brand, Gymshark, is set to open more physical stores, having told Bloomberg Radio on Monday: "I don't know what that looks like now, but these are conversations we're going to be having over the next few weeks internally."
It comes after the 30-year-old last month made his debut to Forbes' billionaire's list, with an estimated net worth of $1.2billion (£992million) - which puts him in the top spot as the UK's youngest billionaire.
And just last week, Ben was made a Member of the Order of the British Empire at Windsor Castle for his services to the business sector.
But the businessman has come a long way since his humble beginnings, starting out sewing his own gym clothes from his parents' garage in Bromsgrove, near Birmingham.
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Benjamin Francis, Founder and Chief Executive Officer, Gymshark, is made a Member of the Order of the British Empire by the Prince of Wales at Windsor Castle (PA)So how did it all begin?
Ben was just 19 when he asked his parents if he could set up shop in their garage designing clothes he'd sketched up in his bedroom.
The young entrepreneur asked his grandmother - a curtain maker - to teach him how to sew, before investing in his own machine to create his clothes, while studying full-time.
Whilst at Aston University, where he was an international business and management student, he teamed up with school friend, Lewis Morgan, and Gymshark was born.
He said the idea was founded from his own frustrations over gym clothes that were uncomfortable, and ill-fitting with seams that caused irritation.
Ben Francis, of Gymshark (Ben Francis/Instagram)
He started out sewing clothes from his garage as a student (Ben Francis/Instagram)When he was a student, he worked nights at Pizza Hut and built two iPhone fitness apps - Fat Loss Abs Guide and iPhysique - and started selling supplements as a side hustle.
He used his £5 an hour salary at Pizza Hut and the £1,000 profit from his supplements business to invest in a screen printer and sewing machine.
Together with co-founder Lewis, the duo started attending bodybuilding exhibitions to help raise their profile.
They started using social media influencers, teaming up with YouTube bodybuilders, Nikki Blackketter and Lex Griffin, to increase exposure.
Ben then dropped out of university in 2012 and quit his job at Pizza Hut to focus on the company full-time.
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He later admitted his time in education gave him "a strong foundation on which to build a business".
In 2013, Ben exhibited Gymshark's products at the BodyPower fitness trade show in Birmingham.
After the trade show ended, a tracksuit went viral on Facebook, generating £30,000 in sales within 30 minutes.
As sales took off, Gymshark moved to a unit in Moons Moat Industrial Estate, Redditch, before relocating to its current headquarters in Blythe Valley Park, Solihull.
As a student he worked at Pizza Hut (Instagram / Ben Francis)
Last year he was awarded an MBE (Ben Francis/Instagram)In 2015, Ben stepped down as CEO of the company and is now the chief executive officer.
Speaking in his own blog, he admitted the work was often overwhelming and said it was important for him to set his ego aside to "put the business first".
The company reached new heights when in 2020, Gymshark secured investment from the US private equity firm General Atlantic, raising the brand's value to £1bn and attaining the prized status of being a 'unicorn' startup.
He has even met his wife Robin through his business.
Their romance blossomed after he asked the Canadian fitness model and influencer to promote his brand on her social media.
She ended up relocating to the UK to be with him before they tied the knot in September 2021.
Meanwhile, at the start of the year, Ben was named in the list of the UK's biggest taxpayers, alongside Wetherspoon boss Tim Martin and Sports Direct founder Mike Ashley.
On receiving his MBE from Prince William last week, Ben wrote on LinkedIn: "I can't believe it but I've been awarded the honour of an MBE.
"This is probably the most surreal feeling I've had when being given an award. I'm so grateful to all those around me who support me in all that I do at Gymshark."
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