Talwalkars operates two listed companies – Talwalkars Better Value Fitness (TBVFL) and Talwalkars Healthclub Limited (THL).
Talwalkars Better value Fitness (TBVFL) runs a large chain of health centers comprising of gyms and spas. The compay offers varied fitness related services such as weight loss, general fitness, massage, spa, yoga and and health counselling under the brand “Talwalkars”.
Talwalkars Healthclubs Ltd (THL), earlier known as Talwalkars Lifestyle Limited, operates, franchises, gymnasia, fitness centers, and health clubs primarily in India and Sri Lanka. It offers all kinds of services in fitness including gyms, spas, aerobics, health counseling, yoga, steam and sauna bath, Jacuzzi, physiotherapy service, juices and concoctions, health food, health drink, organic food, clothing items, fitness equipments and product and consultancy and franchise services.
Image: Working it out: (From left) Girish Talwalkar, Madhukar Talwalkar, and Prashant Talwalkar (Image: Mexy Xavier)
Website: Talwalkars
About Talwalkars
Much before the foreign fitness brands/chains made their way into India, when it came to gymming, Talwalkars was one of the biggest brands that existed in India.
Established and pioneered by Mr. Vishnu Talwalkar, the health club chain now has gyms in most major cities in India, touching the health of more than 1,00,000 fitness enthusiasts through its diverse set of services: gyms, spas, aerobics, health counselling and more.
In recent times, with the entry of foreign fitness chains, Mumbai-based Talwalkars may have been forced to buckle up, but they seem to be doing a good job of preserving their brand name.
They’re growing at a healthy rate, acquiring other fitness chains (such as SNAP fitness) to grow faster, and foreign fitness companies are showing interest to partner with them.
Thanks to its good financial shape, the chain has spread its business overseas too (Sri Lanka, Singapore and it plans to foray into the Southeast Asian country as well).
Today, the Talwalkars name is synonymous with everything related to fitness. The fitness chain which began its first gym in Mumbai in 1932, now offers a diverse set of services including gyms, spas, aerobics and health counselling.
Talwalkars gyms have the latest international fitness and cardio equipment, personal trainers, dietitians, nutrition centre and follows a planned holistic approach to fitness and well-being.
If you’re tired of doing Cardio, then try out kick-boxing, aerobics and spin bikes classes. It would be a good change and definitely worth a try. Also, pay attention to one of the latest addition to the gym – Pilates – a wonderful set of exercises that works on the overall body.
One thing is certain: in Talwalkars you’re going to find various ways to keep yourself fit.
The Beginnings
“I still remember when I was four years old, my grandfather Vishnu Talwalkar one day asked me, ‘Are you going for dinner? Have you exercised? Do a couple of squats, only then you can eat,” says Prashant Talwalkar, Managing Director and CEO of Talwalkars Better Value Fitness Ltd, fondly recalling the good old memories of his grandfather.
Late Shri Vishnu Talwalkar — a firm believer that sickness is invited by people only because of unhealthy lifestyles — was instrumental in inspiring Prashant Talwalkar to establish Talwalkars in Mumbai in 1932.
Since the opening of Talwalkars Gymnasium in Bandra, Mumbai, in 1962, there has been no looking back. Today, Talwalkars has expanded to the point that it has become almost synonymous with the word ‘fitness’ in India. Gyms have been set up across the country even in smaller towns like Aligarh, Hubli, Panchkula, and Sangli.
In the 28 years since he joined the business at the age of 19, Prashant has transitioned the company that once struggled to open four gyms a year into one that now comfortably opens about 40. Today, Talwalkars is spread over 80 cities with 176 gyms and more than one lakh members. The average number of employees per gym is 30.
“We never looked at listing till I decided to go out of Mumbai. In 2005, we decided to expand the number of gyms to other states. First we started in Hyderabad and the response was humungous, breaking all records. Then we thought that we need to spread across India and for that we need funds and people behind you and that is why we got listed. After that, we opened a large number of gyms. I remember, in one day, we launched five upper-scale gyms across India,” Prashant says.
“One of the most important things was to reach the areas where there was better affordability. My theory used to be simple — Capex and the revenue ratio have to be very good in the first year itself. Cutting and managing the operational cost was also one challenge. Capex you can probably control but maintaining Opex is also challenging. When we balanced the two and managed to grow, profitability was given a lot of importance,” says Prashant.
Revenue model and tie-ups
Their operating costs are rent, salary, staff cost, electricity, and a little bit of marketing. Talwalkars’ revenue comes from the gym memberships, which are taken three months, six months, or one year in advance.
“On an average, whatever we invest, we gain 25–30 percent out of that, which is a decent return. If we invest Rs 2.5 crore per gym, we will get a profit of about Rs 50 lakh per gym. We get a lot of demand, in particular, young people who want to become our franchise partners. We have a concept of Hi-Fi which is exactly that and we will continue to propagate that concept,” says Anant.
In a recent development, Talwalkars has announced the inauguration of 20 gyms under the Power World Gyms brand in Bengaluru as part of its expansion strategy. This expansion is a logical continuation of the company’s strategic partnership with Power World Gyms (PWG), Sri Lanka, a company in which it made a significant investment. Founded by Talavou Alailima, PWG’S operating model makes high-class fitness facilities in gyms of 3,500–8,000 sqft available at affordable prices.
Talwalkars Acquires Snap Fitness
Talwalkars acquired Bangalore based Snap Fitness India, the Indian master franchisee of Minneapolis, US-based fitness chain Snap Fitness, and plans to expand in South-East Asia through Snap Fitness.
As part of the expansion, Talwalkars will establish a wholly-owned subsidiary in Singapore to be the exclusive master franchise for Snap Fitness in Singapore, Malaysia, Vietnam, Thailand, Sri Lanka and Bangladesh, according to the company.
Snap Fitness is a privately owned and operated fitness chain founded in 2003 by Peter Taunton, and has over 1000 locations worldwide, with most of the ‘Snap Gyms’ being open for 24 hours a day.
Snap Fitness entered India in 2008, with a flagship centre in Bangalore. The company today operates fitness centres in several locations such as New Delhi, Mumbai, Hyderabad and Chennai in India.
Snap Fitness follows a ‘hub-and-spoke’ model, where it will have one company-owned centre and about four-to-five franchise-run centres in the same locality.
Most Snap Fitness centres are usually spread over 3,000 to 5,000 sft, and require an investment of between Rs 1.2 crore and Rs 1.5 crore.
Is It Really 24×7 in India?
There are a lot of gyms in India, including Snap Fitness, that say they’re open “24 x 7”. However, in reality, most are open from around six in the morning to around eleven at night, which is actually not bad but still it’s not 24×7.
So if that is really a concern to you, make sure you get it clarified before you join the gym.
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