Already agreed
David Lloyd 20%
Of net revenue, on product and on media. Three months at Milton Keynes. That share does not move.
FITCO
Milton Keynes pilot · November 2026
The David Lloyd terms.
The offer to FITCO.
What is already signed with David Lloyd, and the proposal for FITCO to stock and fill the machines on the route they already run into the clubs.
Bright.Blue
Machines and media
We own the devices, take the payments, and sell the retail media.
Proposed
FITCO runs stock
FITCO owns the product, fills every in-club machine, and takes 65% of physical net revenue.
For FITCO, and for David Lloyd to see the structure.01
Pilot agreement · Milton Keynes Club
What is already agreed
One club. Up to eight machines.
Three months from go-live.
Scope
- Venue. David Lloyd Milton Keynes, Livingstone Drive. Up to 8 devices, plus online retail.
- Indicative locations. Gym and padel (Europa Double), club-to-gym hallway (Blinx), pool (Callisto).
- Categories. Wellness and beauty, food and beverage, racket sports essentials, cosmetics and essentials.
- Who owns the machines. Bright.Blue. David Lloyd provides space, power, connectivity and access.
- Who operates today. Bright.Blue, as a managed service: product, stock, restock, payments and media.
Term
- Initial period. Three months from go-live. Target go-live is December 2026.
- Extension. One further period of up to three months, only if both sides agree in writing. Same commercials.
- If it works. A phase-two pilot at up to five further clubs. David Lloyd decides, club by club, on a new agreement each time.
- If it stops. Machines come out. David Lloyd is not obliged to roll out.
Pilot Agreement between Bright.Blue UK Limited and David Lloyd Leisure Limited. Device count and locations are confirmed after the site assessment.02
Section 4 · fixed for the pilot
David Lloyd commercial terms
20% of net revenue.
£28,000 toward the build.
20%David Lloyd share of net revenue, on every stream, for the pilot and any extension.
£28,000Excl. VAT. David Lloyd’s contribution to customisation and mobilisation. Non-refundable.
£0No device activation fee. No ongoing platform fee during the pilot.
£2,400Per device, only if the KPIs are met and David Lloyd chooses not to continue.
| Stream | David Lloyd | Bright.Blue | Paid |
|---|---|---|---|
| Physical product | 20% of net | 80% of net | Monthly, within 30 days of the next month |
| Online product | 20% of net | 80% of net | Same reconciliation |
| Retail media and DOOH | 20% of net | 80% of net | Same reconciliation |
| Local ads | 20% of net | 80% of net | Same reconciliation |
Net revenue is gross, less VAT and payment processing (interchange plus 2.5%), and less the stream costs in the agreement: delivery on online, agency commission on media. The £28,000 is invoiced 40% on signing, 40% on installation, 20% on acceptance. If KPIs are missed, there is no early termination fee. Removal logistics are capped at £1,000 per device.03
Why FITCO
The change we want to make
FITCO stocks and fills.
David Lloyd’s 20% stays put.
David Lloyd keeps
The host terms
- 20% of net revenue on product and on media
- Space, power and access at Milton Keynes
- Brand rules and the prohibited list
- Its own café, retail and racket sales
- The choice on any further clubs
Bright.Blue keeps
The platform
- The machines, the software and the payments
- Retail media, DOOH and local ads
- The planogram and the retail price
- The David Lloyd contract
- Online retail for this pilot
FITCO takes
The product
- Buying and owning the stock in the machines
- Filling every in-club device
- Waste, expiry and stock loss
- The product margin on what it owns
- The fill, on the David Lloyd route it already runs
FITCO enters as Bright.Blue’s contractor. The pilot agreement already allows the supplier and its contractors in to restock. FITCO does not need a separate David Lloyd contract to service Milton Keynes. David Lloyd is not asked to pay FITCO.04
Proposal · physical product only
The offer to FITCO
65% of physical net revenue,
for stock and the fill.
Media, DOOH, local ads and online stay on the signed split: David Lloyd 20%, Bright.Blue 80%. FITCO does not take a share of those streams. Where a brand supplies stock on consignment, FITCO fills it on the scheduled visit and does not take the 65% on stock it does not own.
Proposal, not yet agreed. It assumes FITCO is buying on its existing David Lloyd supply terms and dropping stock on a route it already runs. A category that needs its own collection is priced before that visit starts. Paid by Bright.Blue monthly, within 30 days of month end.05
How the money moves
One vend, three parties
Worked on £10 ex VAT.
Illustrative vend
£12.00 on the machine, inc VAT£10.00
Illustrative payment fee, 3% of ex VAT£0.30
Net revenue£9.70
David Lloyd, 20%£1.94
Bright.Blue, 15%£1.46
FITCO, 65% — product, waste, fill£6.30
Rounded to the penny. The live fee is interchange plus 2.5%, as in the David Lloyd agreement, so the net on a real vend will differ. FITCO’s £6.30 is before its cost of goods.
Rules on the product
- Price. Bright.Blue sets the retail price with David Lloyd. FITCO proposes cost and a recommended price.
- Range. FITCO fulfils the agreed planogram, including third-party SKUs, inside the prohibited list.
- Title. FITCO owns its stock until the vend. Unsold and expired stock is FITCO’s.
- Machines. Stay Bright.Blue’s, and stay on Bright.Blue’s insurance.
- Reports. FITCO sees unit sales and stock for the SKUs it fills. No member data. No media rates.
The £28,000 contribution and the machines are Bright.Blue’s. FITCO is not asked to fund either.06
Term and the ask
Milton Keynes first
Same length as the pilot.
First right if it rolls on.
Milton Keynes
Three months from go-live. FITCO fills every in-club device to the stock standard.
→
Review
Joint review at the end of the initial period. One extension of up to three months, if David Lloyd agrees.
→
Up to five clubs
If David Lloyd proceeds, FITCO has first right to continue on these economics. Each club is a separate written agreement.
What we need back
1
Confirm FITCO will stock and fill Milton Keynes on the 20 / 15 / 65 split.
2
Confirm which categories come from the range FITCO already supplies to David Lloyd, and which it would source.
3
Confirm the delivery cadence off the existing club route, against a stock availability target of at least 95%.
Either side can stop on 30 days’ written notice. If the pilot ends, this arrangement ends with it. The 95% stock target sits in the pilot annex and is confirmed in writing before go-live.
Bright.Blue
Adam Smith
adam.smith@bright.blue
+44 7714 492134
We will put a short operator agreement around these terms once FITCO confirms the split, the range and the cadence.
David Lloyd figures are the Milton Keynes Pilot Agreement. FITCO figures are the proposal in this deck.07