{"id":3838,"date":"2014-10-10T11:09:41","date_gmt":"2014-10-10T11:09:41","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=3838"},"modified":"2014-10-10T11:35:10","modified_gmt":"2014-10-10T11:35:10","slug":"snap-fitness-plans-open-300-health-clubs-india","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/snap-fitness-plans-open-300-health-clubs-india\/","title":{"rendered":"Snap Fitness plans to open 300 health clubs in India"},"content":{"rendered":"
\"Snap<\/a>

Snap Fitness<\/p><\/div>\n

Franchise News India<\/a><\/strong>,Franchise In India<\/a><\/strong>,NEW DELHI: US-based Snap Fitness plans to invest around Rs 350 crore to open 300 health clubs in India in the next three years as part of its expansion<\/a><\/strong> plans in the country.start Sports & fitness franchise opportunities<\/a><\/p>\n

“As India is a priority market for us we are targeting to open 300 centres in India by end of 2017 and will be investing approximately Rs 350 crore for this,” Snap Fitness India<\/a><\/strong> CEO B M Vikram told PTI.<\/p>\n

As per the current plans, out of new centres planned, 30 would be company owned while 270 will be through the franchise<\/a><\/strong>, he added.<\/p>\n

The company that follows the ‘fast-convenient-affordable’ health clubs model, has 50 clubs operational currently and over 10 clubs have been signed, Snap Fitness said.<\/p>\n

When asked how the company planned to raise funds for the expansion, Vikram said: “The first phase will be through a combination of debt, from franchise partners and internal accruals.”<\/p>\n

In the first phase that will last up to a year and half the company will open 100 to 120 centres, he added.<\/p>\n

In the second phase, Vikram said “the company will look at funding from the parent company, through equity or through an IPO.”<\/p>\n

The company is looking at expansion in location such as Delhi-NCR<\/a>, Mumbai<\/a>, Chennai<\/a>, Kolkata<\/a>, Bangalore<\/a>, Hyderabad<\/a>, Vadodara, Nashik, Raipur, Kochi, Salem, Lucknow<\/strong> among others.<\/p>\n

“All our health clubs will be no frills with an area of 3,000 square feet or 4,000 sq feet or 5,000 sq feet. In a unique concept these gyms will have 24 hours exercise facilities,” he said.
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