Snap Fitness to have more than 100 centres by next year

Bangalore-based Snap Fitness India, the Indian master franchisee of Minneapolis, US-based fitness chain Snap Fitness that operates round-the-clock, is looking at an initial public offering (IPO) after a year when it completes 100 centres across the country.

Snap Fitness entered India in 2008 with its first centre in Bangalore. At present, there are about 50 Snap Fitness centres in India, of which 33 are located in Bangalore. The company is now plans to open centres in tier-I, tier-II and tier-III cities to take the number of total centres to 300 over the next three years. Of these, about 30 would be company owned. However, if the company gets external funding, they will open 100 company owned centres. While the company operates 24 hours a day, it may look at keeping centres in smaller cities closed at night.

Snap Fitness centres, in sizes of 3,000 sq ft, 4,000 sq ft and 5,000 sq ft, typically entail an investment of between Rs 1.2 crore and Rs 1.5 crore each. It follows a 'hub-and-spoke' model, where it will have one company-owned centre and close to four franchise-run locations built around that area. Over the next three years, the company and its franchises will spend about Rs 350 crore.

Its flagship stores earn about Rs 1.6 crore to Rs 1.8 crore annually, while about 50% of the earning goes to meet operational expenses.

The fitness industry in India is estimated to cross Rs 6,000 crore by 2015 while more than 95% of the sector is still unorganised. Organised brands like Talwalkers, Gold's Gym and Snap Fitness contribute the remaining.

World’s First Reebok Fit Hub Studio In Mumbai

Strengthening its focus towards becoming the most desirable premium fitness brand in the country,Reebok launched it’s first-ever Reebok Fitness Studio in Mumbai. It is an innovative format situated within the Fit-Hub store. The first Reebok franchise ‘store and studio’ concept launched at Mumbai’s Linking Road has been conceptualised to meet the fitness needs of Indian consumers and will enable them to engage in exciting studio fitness activities such as Dance, Aerobics and Yoga. Reebok has a pan-India presence with 400 exclusive franchise stores and a 1000 member strong instructor alliance.

Commenting on the launch, Erick Haskell, Managing Director, Reebok India said, “It gives us immense pleasure to launch the world’s first-ever Reebok Fitness Studio in Mumbai, and empower our customers to embark on their fitness journey. It is all the more exciting that India is the first Reebok market to have developed and implemented this concept. We hope to receive a great response to this new addition, and aim to have ten such ‘store and studio’ formats spread across all parts of the country by the end of 2015, thereby truly spreading the message of fitness and encouraging people to be ‘Fit for Life’.”

Expressing his thoughts on the launch, Somdeb Basu, Brand Director, Reebok India said, “After the great response we have received for our Fit Hub concept stores across the country, we are extremely happy to announce the launch of our first ‘store and studio’ format in Mumbai. With the addition of the new Fitness Studio, these Fit Hub stores aim to truly serve as a one-stop fitness destination helping our customers, and help them achieve their fitness goals.”

Initiated in 2013 in India, Reebok’s innovative Fit Hub stores have become popular amongst the consumer and have seen tremendous success across important markets including Delhi, Mumbai Bangalore, Hyderabad, Kolkata, and Chennai amongst others, reaching a landmark of 100 stores in 50 cities.

Anytime Fitness Announces Sub-franchisee Agreement for India

New Delhi-based House of Fitness Pvt. Ltd., the Master Franchisee of Anytime Fitness LLC, the world's largest "24 hour" co-ed chain of health clubs, has signed its first sub-franchisee agreement for India with Shri Krishna Wellness.

With the signing of the agreement, Anytime Fitness brand would open its first Gym at Model Town, New Delhi.

"This is the first step towards expanding our services in the Indian healthcare market and we are pleased to tie-up with Shri Krishna Wellness. Shri Krishna Wellness would get all the support from us which would include the brand support and years of our experience in this vertical," said Mr. John Kersh, Vice President of International Development, Anytime Fitness, USA.

According to statistics from the International Health, Racquet & Sportsclub Association's 2012 Global Report on the State of the Health Club Industry, only 0.03% of the Indian population is a member of any health club. This figure is in sharp contrast to the United States, where over 17% of the total population are health club members, and to Europe, where more than 10% of the population are members in the majority of countries.

"There is an opportunity to provide the best of health care facility across Indian Cities, as we have been witnessing that people in India are becoming increasingly health conscious due to various reasons. We expect the number of such people to grow over a period of time. There is already a tremendous demand for the corporate wellness programs. Although,India is far behind the America, but nevertheless, we are moving on the right track," said Mr. Vikas Jain, CEO, House of Fitness Pvt. Ltd.

Anytime Fitness' concept provides a perfect solution for busy people looking for comfortable and convenient facilities. The convenience and affordability of Anytime Fitness for both men and women will keep benefiting the members and encourages them to strive for and meet their health and fitness goals.

Anytime Fitness India will provide exclusive rights to Shri Krishna Wellness for use of the brand's trademarks, systems and intellectual property under supervision during the term of the agreement, and will support the sub-franchisee via its corporate headquarters in the United States.

About Anytime Fitness:

Founded in 2002, Anytime Fitness is now the fastest-growing fitness club franchise in the world, with more than 2,000 clubs worldwide. Open 24 hours a day, 365 days a year, Anytime Fitness prides itself on providing its members with convenient and affordable fitness options in friendly, well-maintained facilities that feature top-quality exercise equipment. Clubs are now open in all 50 U.S. states, Canada, Mexico, Australia, New Zealand, the United Kingdom, the Netherlands, Poland, Qatar, Spain, Grand Cayman andJapan, and members everywhere have free reciprocal access to all clubs worldwide.

For more information, please visit http://anytimefitness.com.au/.

About House of Fitness:

House of Fitness (HoF) has been established by a group of professionals to provide the best possible fitness facilities across India. The HoF management has been associated with the fitness industry for the past several years in various capacities.   The management of HoF has been involved in setting up several gym facilities in India and has provided state-of the art fitness equipment to various gyms in the country.  Backed by vast experience, HoF is well-positioned to take the unique franchisee model of Anytime Fitness to a new level in India.