Franchise expansion and innovative strategies spearhead Curefit's plans for fostering development and growth.
Curefit, the company behind the popular fitness brand Cult.fit, is gearing up for a profitable year, according to Mujtabha Magrey, the COO and Head of Fitness Services at Cult.fit. The company, which currently operates 700 fitness centres across 40 cities, has already made its fitness services business profitable.
Magrey's mission for Curefit is clear: to get India moving. With a focus on Pilates, sports, and more, the company is expanding its sports business by adding pickleball courts, swimming facilities, and badminton arenas.
As it prepares for a potential public listing, Curefit is positioning itself as the country's largest integrated fitness ecosystem. The company boasts an impressive active member retention rate of about 65%.
Two-thirds of Curefit's gyms are now partner-owned, a shift in strategy that was implemented in 2021. This move has allowed the company to focus on expanding into tier-2 and tier-3 cities, with Kolkata, Lucknow, Jaipur, and Chandigarh on the near-term rollout list. In the coming months, cities like Indore, Nagpur, and Vadodara will also see the arrival of Curefit.
The expansion focus is not just about numbers, though. Magrey emphasized that the priority as they open more stores is ensuring active workouts post-purchase. To that end, Curefit has launched Pilates Circle by Cult, a standalone Pilates studio chain, and has also shifted its strategy to a franchise-heavy network.
Curefit's revenue is still predominantly generated from gym services, with nearly 85% still coming from the top four metros. However, the company's store-level operations are cash flow positive from day one, thanks in part to pre-sales before launch. The remaining revenue comes from fitness products like athleisure, footwear, and equipment.
Magrey stated that the company aims to sustain 30% annual growth while preserving the customer experience. With its focus on expansion, innovative offerings, and commitment to customer retention, Curefit is poised to continue its growth in India's burgeoning fitness market.
