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TRIB3, a boutique fitness brand, has renewed its collaboration agreement with major banking group, BBVA, to continue to provide funding options for its franchise partners in Spain.
The agreement will see BBVA offer a range of services and support to TRIB3’s network of franchise partners from franchise bank loans for the opening of new stores in the region to asset leasing and rent endorsements. BBVA will provide competitive interest rates for each TRIB3 franchisee as well as collaborating with TRIB3 to support franchisee business and financial planning.
“We’re very happy to be renewing our collaboration agreement with TRIB3,” said Cari García, franchise specialist at BBVA. “The brand has proven its model across three successful units in Madrid and has a great reputation amongst its franchisees. We’re looking forward to supporting the next tranche of store owners to start their studios and supporting TRIB3 in its expansion across Spain.”
TRIB3 launched in Spain in early 2019, and now operates three studios in Madrid. It has plans for a mix of corporate-owned and franchised units across several areas of the region, including Barcelona.
BBVA’s Franchise Unit was founded in 2016 to support the growth of the franchise sector in Spain. Since then, the team has signed more than 400 collaboration agreements with organizations to support and facilitate their expansion plans in Spain.
In total, BBVA’s Franchise Unit offers services to more than 500 brands throughout the national territory and in 2020, its financing to the franchise sector doubled year-on-year.
“With four further store openings imminent in Spain across Barcelona and Madrid, a city where we already have a really strong foothold, this is a key collaboration for TRIB3 and our franchise partners,” said Thomas Moran, CFO for TRIB3.
“BBVA’s Franchise Unit has placed significant investment and support in the Spanish franchise sector, and we know with their support and funding options that our expansion will go from strength to strength.”
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