Chennai-based FitnessOne, which manages a chain of fitness centres, is planning to open 20 centres in Hyderabad by the end of 2012.
"Hyderabad has the potential for 20 centres, and another 20 outside the city in the state," said PL Vivekanand, managing director, FitnessOne.
Recently, the company has opened four all-women fitness studios called Pink, and two Propel stores selling fitness equipment ranging from Rs 300 to Rs 3 lakh, at Hyderabad.
The Rs 45-crore company, which started operations in 2004 with one fitness centre, currently has 37 centres. It would take the number to 100 by 2012, with an investment of Rs 20 crore, he said.
The centres would be both franchise-owned and company-owned, he added. At present, around 75 per cent of the stores are company-owned and the rest are franschise-owned. Going forward, it would focus more on company-owned centres.
The Indian fitness market is pegged at Rs 2,500 crore, and is growing 25 per cent year-on-year. Most of the market is unorganised with the single fitness centres, and only 10 per cent of the market is organised.
Among them, Talwalkars is the leading player in the organised fitness market, having 80 centres in the country, whereas FitnessOne is the leading player with 100 per cent market share in the women's fitness segment, said Arun Kathiresan, director, FitnessOne Group India.
The company also offers fitness process outsourcing services to many corporate and IT companies, where it designs, selects equipment and outsources HR management. It has reported Rs 45 crore turnover last year.
