To get access to over 10000+ Franchise Business Opportunities.
Network with the growing Business Community to get expert interventions to let you learn to Grow & Expand your Business with Franchising.
Vinod Kumar Manney and Ram Mohan Rao Parnandi, founders of My Gym, talk about the healthy returns in the fitness space
What lead to the inception and growth of this brand?
Success of any business depends on passion and skills. This is what defines the purpose of establishing My Gym. Ram Mohan Rao Parnandi and I had both passion for fitness and skills. The growth of My Gym lies in quality. Like any other business looks for its optimum profits, but we strongly believe that profits follow quality of service and customer satisfaction. Thus, both these parameters have become the means to achieve the end of profits. And obviously profits have fallen in place very well.
Tell us about the brand...
My Gym was established in 2013. And the branding started with the name My Gym -- a sense of ownership and responsibility. When these two are mixed with the quality of service, the outcome is customer satisfaction. And all clubbed together emerges a brand.
What strategies you followed to grow the brand?
From the beginning, we are adhering to this theory (Sense of Ownership + Responsibility + Quality of Service = Customer Satisfaction) to build our brand. But brand creation is only a part of the story. The next step is to increase the reach of the brand. In Steve Jobs words, “the best product is the one which can be shipped”. We’ve jotted down the marketing strategies to increase the reach of the established brand through hoardings, flyers, ads in cinema theatres, digital marketing like social media accounts, SEO, search engine platforms like Just Dial, Sulekha and so on. Now, we have successfully established our brand in the fitness market.
What kind of growth you see in the coming years?
From 2005-2017, we have been growing leaps and bounds. This year, we would expect to establish around 100 branches in pan-India.
How many centres do you have and what are your expansion plans?
Currently, we have four centres running successfully in Hyderabad and Vizianagaram, and planning to launch two more in a couple of months. And our plan is to establish 20 new outlets by 2018.
Kindly share few tips to keep the business healthy...
The effective tips to keep the business healthier are:
• Work as a team, right from the office boy to clerk to manager to trainer to the owner. All should work in tandem to achieve the common goal.
• Instill the sense of ownership, the business idea, in the team
• Keep the employee welfare on the top priority list
• Strongly believe in the ‘customer is always right’ concept
• Constantly keep an eye on the quality of the service you provide. Profit of the business is followed by the quality of the service.