Snap Fitness aspires to be the Top Fitness Chain of the Country
Making India Fitter, Healthier and Stronger
This internet-age has sparked a revolution in the domain of healthcare and fitness across the world. Healthcare sector in India is expected to reach $280 billion by 2020. When the healthcare industry is growing at a tremendous pace, fitness chains from outside India are eyeing to explore the booming market of India.
With the hunger of responsibility for making India fitter, healthier and stronger, Indian part of the US based fitness chain Snap Fitness has already created visible ripples in India. Snap is now the third largest player in the market with sixty clubs across the country. In addition to Delhi, NCR, Pune, Bangalore, Hyderabad and Chennai, Snap Fitness has created footmarks in the tier II and III cities like Lucknow, Guwahati, Davangere and Shivamogga.
Snap Fitness is known for its depth across the area of fitness. Despite a challenging and changing industry landscape, in the past years Snap Fitness scored an average growth of 30% with above industry average customer retention, while seamlessly devoted to improve client’s health.
Snap Fitness has started its journey in India with two industry veterans – Dr.Vikram and Ms. Srileka Reddy. Whereas Dr. Vikram- CEO and MD of Snap Fitness, is a dentist by profession, Ms. Srileka Reddy, (Director for Marketing& Franchisee Support) was the brand manager of a big box fitness chain. The two felt that there was a need for international quality fitness centre in India which is affordable and accessible. After some research on the industry, they both travelled to USA and met Mr. Peter Taunton, the man behind Snap Fitness and were very impressed with his vision and business model. They felt that this model is best suited for India and came back with the Master Franchise of Snap Fitness for India.
Dr.Vikram and Ms. Srileka Reddy laid the foundation stone of Force Fitness India, the Master Franchisee of Snap Fitness, at Indiranagar area of Bangalore in October 2008, around the time of global recession. But the recession could not affect their entrepreneurial venture. Since then Snap Fitness has almost been on a meteoric rise. Within a short span, they opened ten franchisees and established their presence in four states.
The co-founders and promoters of Snap Fitness are serious about their brand, service and reputation. Fast, Convenient and Affordable – is their brand tagline.
While talking about services, Dr.Vikram CEO said, “Snap Fitness is a no frills neighborhood fitness centre. We offer value for money by giving an international workout experience with world class equipments, certified trainers, dieticians, 24/7* access, Global reciprocity and easy accessibility; all at an affordable price.”
Taking a membership at any club, one can access all the 2500+ Snap centres, located in USA, UK, Spain, Canada, Mexico, New Zealand, and Australia. Snap Fitness has a modern facility specifically geared toward healthy weight loss for people battling obesity. Their gyms also offer group exercise and personal training classes, as well as fitness tips.
The revenue of this firm mainly comes from corporate club membership sales, franchisee fees and royalties. The revenue model for the gym is based on membership sales where people have the leeway to opt for annual, quarterly, half yearly, off-peak, student, corporate memberships. Personal Training revenues and Nutrition revenues are the add on revenues.
Sharing some perspectives about her entrepreneurial journey, Srileka Reddy asserts “journey over the last 9 years has been very challenging and yet very rewarding. The first club was launched in 2008 in the peak of recession and the brand was relatively unknown. As promoters we were literally on the roads getting people to fill questionnaires and trying to collect leads for memberships. But once the club opened, it was a runaway success as people really liked the model and we had 300 members before the gym opened. The first 6 franchises were also taken by our members of the first club.”
Reddy took her Masters degree in Marketing and IT from Australia. She also holds an MBA in Finance from England.
Dr. Vikram ‘s dream is to make Snap Fitness the No.1 chain in the country and take it to IPO. His greatest joy in being an entrepreneur is changing people’s life and creating employment for so many people. When it comes to Snap Fitness, his passion, professional approach, leadership and enthusiasm are hallmarks that have expanded presence of Snap Fitness in India.
The co-founders are certain the company is poised to change the landscape of fitness industry in the country. Under the aegis of Dr.Vikram and Ms. Srileka Reddy, Snap Fitness continues to find new ways to help everyone become healthier and stay fit. Expanding services in tier II and III cities, Snap Fitness now plans to launch three hundred clubs by end of 2019.