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Growth Strategies 30 Sep 2014

Gym and fitness industry riding high on growth possibilities

Hectic and frenzy lifestyle makes it difficult to stay in shape; so sooner or later all of us need to go to a gym or some fitness centre.

Gym and fitness industry is flourishing today with lots of national and international players having emerged into the segment. The credit for this boom in the industry to some extent goes to bollywood actors and divas that flaunt their well groomed bodies and muscles on screen and inspire youngsters to follow them. As a result youngsters as well as people from all age groups have become more conscious regarding their health and physique.

Market scenario

The Indian fitness industry is all set to ride high with all possibilities. Currently, it is pegged at $0.78 Billion and with CAGR of 25 per cent, it is stated to reach $2.4 Billion by 2015. Presently, it constitutes more than 20 per cent of the complete wellness market. The industry is growing rapidly since the active participation of national and international brands. To facilitate customers the key players are aggressively opting for the franchise route.

Anant Gawande, Director and CFO, Talwalkars shares: “In the current scenario where there is an opportunity in the market we are extra cautious in every innovation we launch and every market we enter so as to provide best facilities to our members and minimise our losses both qualitative and quantitative.”

Presently, there are over 21,000 health and wellness centres across India and the number is growing each day. 

Drivers for growth of gymming culture

Fitness is something we all aspire for, at any cost. People these days have realised the importance of a healthy body and healthy mind. Moreover, good physical health also helps in fighting health issues like diabetes, obesity, heart diseases etc.

Lack of physical work and increased consumption of fast food in modern era is another contributing factor for success of fitness centres. Also the realisation of the fact that people who exercise regularly are happier and healthier compared to those who do not indulge in it is adding to the popularity of the concept. Gymming can also be used for reducing stress, anxiety and depression and also increases energy and stamina.

Major players

In their efforts to capture the maximum potential in the industry, international fitness players like UK's Fitness First and US-based Gold's Gym have forayed into India and are quite successful in their ventures. Home-grown brands are also not missing even a single chance to grab their share of fitness industry in India. Some of the prominent Indian franchise brands may include; Talwalkars, Barbarian Power Gym, Champion etc.

Talwalkars

Talwalkars presently has over 130 ultramodern branches across 69 cities in the country, with over 1,25,000 members. Gawande informs: “What makes us stand out is our diverse offering and similar health club experience we offer to our customers across all the health clubs in India. We get world class equipment for our members.” He added: “We see strong demand for quality fitness centre in tier II, III cities and towns of India. Through the franchise model the company is able to provide quality fitness centres across India. We see ourselves at around 250 gyms in the coming three years”.

Barbarian Power Gym

Brothers Satyajit and Devashish Chourasia founded Barbarian Power Gym with an objective to provide better fitness solutions in 1991. It is fast growing brand with various franchisee models- domestic and international. Currently, the company has total 10 outlets ranging from 3,000 sq. ft to 15,000 sq. ft. "We are very passionate about our work and industry and we feel it’s a divine purpose is to propagate fitness. The experience we have gathered should reach maximum number of people - that's our goal now”, says Devashish Chourasia MD Barbarian Power Gym Pvt. Ltd. 

Gold Gym

Today, Gold’s Gym has over 700 facilities globally. However, in India Gold’s Gym started in 2002, and today it has cut out for itself 65 gyms in India via franchise and self operated expansion route.

Burn Gym & Spa

Burn Gym a rapidly growing player committed to help its members achieve their individual potential. Pankaj Kasrija, Managing Director and CEO, Burn Gym & Spa shares: “We provide full solution to health and well being of our members with certified trainers. Our commitment to gift good health to all our clients helps us achieve our goal in a short span and now we are going to open our fourth outlet.” 

Franchise requisites

The perfect blend of many features and facilities make a gym thrive. Various domestic and international brands that are operating through the franchise route for expansion are looking for dynamic entrepreneurs who understand the need and growth perspective of this sector very well. Depending upon the brand’s business model, area, location and city, the potential franchisee may require an investment which can start from Rs 20 lakh and can go up to Rs 2 crore as well. Investment may vary from brand to brand depending upon the area, its origin, whether it’s national or international and other facilities.  

Remember, the fitness industry has great potential. Aspiratants getting on the franchise band wagon are sure to reap healthy benefits in future as well. If you are health conscious and have always dreamt of making a career out of your hobby than taking up a franchise of a gym or a fitness centre is the best foot forward for you.

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