BENGALURU: Health and fitness startup CureFit has set a formidable goal of a tenfold surge in annual revenue to $1 billion by 2022, buoyed by a deeper enlargement in India and distant places and the release of recent products.
The corporation, which attained $ hundred million a year in annual revenue within three years of starting operations, plans to make an initial public supply after achieving the sales milestone.
“We are very confident that we might be able to grow 10x using 2022. In this journey, we will be profitable by hitting $1 billion in revenue. Our unit economics could be robust; our contribution margin is over 30% across all classes. 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 of the 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 help customers control their everyday fitness regimes with food, backed by an offline, proprietary fulfillment community to provide them.
While fitness center chains Planet Fitness and Talwalkars Better Value Fitness have long gone public, CureFit is the primary provider of those five interconnected services on one platform. Hence, cross-promoting merchandise has come about without difficulty, supporting its sales development.
The company aims to have 25 million customers in the three years following its global enlargement and the creation of several new merchandise.
“In India, we can accumulate 5-10 million customers who pay for our provider within the next three years. We will even have 10-15 million clients who might use our digital services, wherein humans can work out at home, get consultations and advice at home,” said Ankit Nagori, co-founder of CureFit.
“Twenty percent of customers will visit centers, and 80% will use the service digitally. They will all be paying for it. We suppose 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 Indian towns. 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- to 12-month-old startup’s ambition is to enlarge Cult. Match, Eat. In shape and Mind.In shape across 800 centers in 50 Indian towns. Internationally, it plans to release ten 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 we will expand that to $1,000 if matters move properly. 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.
