BENGALURU: Health and fitness startup CureFit has set a formidable purpose of a tenfold surge in annual revenue to $1 billion by means of 2022, buoyed by way of a deeper enlargement in India as well as distant places and the release of recent products.
The corporation, which attained $one hundred million a yr in annual revenue within three years of starting operations, plans to make an initial public supplying after it achieves the sales milestone.
“We are very confident that we might be able to grow 10x by means of 2022. In this journey, by the point we hit $1 billion revenue, we will be absolutely profitable. Our unit economics could be very strong; our contribution margin across all classes is over 30%. In terms of a long-time go out scenario, it’s miles to head public. Whether we cross public in India or out of doors, is a strategic query,” Mukesh Bansal, co-founder and leader government, CureFit stated in an interview.
The Bengaluru-based totally firm has a specific enterprise version of presenting food (through its Eat.Healthy emblem), physical health (Cult.Healthy), intellectual health (Mind. Healthy), number one care (Care. In shape), and health clothing (Cult Sport) on one platform (an app). CureFit has created a tech platform to assist customers to control their everyday fitness regimes together with food, that’s backed by using an offline, proprietary fulfillment community to provider them.
While fitness center chains together with Planet Fitness and Talwalkars Better Value Fitness have long gone public, CureFit is the primary to provide those five interconnected services on one platform. Hence, cross-promoting of merchandise has come about without difficulty, supporting develop its sales.
The company aims to have a total of 25 million customers in the subsequent 3 years at the again of its global enlargement and creation of several new merchandises.
“In India, we think we are able to be able to accumulate 5-10 million customers who pay for our provider within the next 3 years. We will even have 10-15 million clients who might be the use of our digital services, wherein humans can work out at home, get consultations and advice at home,” said Ankit Nagori, co-founder, CureFit.
“Twenty percent of customers will visit centers and 80% of customers will definitely use the service digitally. They will all be paying for it. We suppose we have a chance of constructing India’s largest digital subscription product,” Nagori said.
CureFit has lined up enlargement plans to fuel its boom. Cult. The suit, the company’s biggest enterprise vertical currently, has 200 studios across seven India towns. It these days forayed into the United Arab Emirates with the release of the primary cult. Healthy studio in Dubai. It presently has 40 eat. Healthy kitchens, five care.Fit and 31 thoughts.Suit centers.
By 2020, the three-12 months-old startup ambitions to enlarge Cult. Match, Eat. In shape and Mind.In shape across 800 centers in 50 Indian towns. Internationally, it plans to release 10 more cults. Fit centers and one mind.Fit center by using the stop of this year in Dubai.
The corporation has identified four regions for international expansion—South-East Asia, West Asia, Europe, and North America. It will input South-East Asia with the aid of the quit of 2020.
“Right now, an ordinary patron is paying us about ₹25,000 12 months now, that’s approximately $350. We trust that if matters move properly, we will expand that to $1,000. So, if I take a 20-year view, that is how we will create a $20 billion enterprise,” said Nagori.
In the meantime, the organization is also expanding its array of offerings.