See, going to the gym isn’t just a trend anymore; it has somehow become a lifestyle for hundreds and thousands of people in India, and that’s ultimately a good thing. Cult Fit is also one of the gym brands that is contributing a ton to this behavior of people in India. For example, Cult Fit began just in 2016, and in less than ten years, it has become one of the biggest and most preferred fitness center brands in the country. But it is not just the typical and physical fitness centers or gyms that make them profits, nah, they do a lot more to make money, and today we’ll discuss their business model by going a bit in-depth. Here we go.
What Cult Fit Actually Offers?
One thing that needs to be mentioned first is that fitness is available in a variety of ways for the customers of Cult Fit. These gyms and group workout studios of Cultfit are available in different cities all over India. Additionally, there is a cultpass that can help you go to their partner gyms to get the same type of service, and you are sure to have a better workout experience. Furthermore, if you are a person who prefers to exercise at home, then the Cultfit app will provide you with the same convenience through its live and on-demand classes.
The Idea Behind It
As your personal fitness platform, Cult Fit intends to offer you all the fitness solutions in one place. Their centers provide group workouts that you can participate in, or if you are on the move, you can use one of the gyms from their network, and in case you do not have time for a workout, you can do it from home as well. Using the cultpass system, the whole process (from memberships to renewals and upgrades) is super duper easy via their mobile app.
| Company/Brand | Cult.fit (operated by Curefit Healthcare Pvt Ltd) |
| Establishment Year | 2016 |
| Headquarters | Bengaluru, Karnataka, India |
| Founder/Owner | Founders: Mukesh Bansal, Ankit Nagori |
| Industry | Health, Wellness & Fitness |
| Net Worth (Valuation) | Around US$1.5 to 1.56 billion (Nov 2021) |
| Total Revenue in 2024 | ₹926.6 crore (FY24, revenue from operations) |
How Cult Fit Makes Money?
1. Memberships and Subscriptions
This is the biggest contributor to their income. Cult Fit sells different types of cultpass memberships:
- cultpass ELITE: This one gives you full access to Cult centers, classes, partner gyms, and online sessions.
- cultpass PRO: With this, you get access to partner gyms and some classes (less than ELITE).
- cultpass LIVE (also known as HOME): Oh, this one is more focused on home workouts via live and recorded online classes.
These passes are available at various times (monthly, quarterly, or yearly) and are usually at the forefront of running promotions or discounts to attract customers. A regular inflow of money is very much dependent on renewals and upgrades, allowing a continuation of the revenue flow.
2. Corporate Wellness Plans
Cult Fit is also in collaboration with various companies and presents fitness packages for the employees. The packages can comprise the use of gym facilities, online sessions, or both. These deals assist enterprises in the wellness of their employees and provide them with a steady income from Cult Fit for the whole year.
3. Franchise and Partner Network Fees
Franchise partners can be those people who are interested in opening a Cult Fit center. Cult Fit allows franchises to use its brand for a fee, share in the earnings, and receive support in the form of branding, app tech, and marketing.
Moreover, numerous independent gyms are part of the cultpass network. In the event that members visit those gyms, Cult Fit levies a platform fee.
4. Cultsport Product Sales
Cultsport is the activewear, sports shoe, and fitness gear label of Cult Fit. Their sales channels include the internet, along with occasional physical stores or partner locations where they sell the products.
As a secondary source of income, this retail business can significantly contribute to the company’s revenue besides subscription and services.
5. Personal Training and Premium Programs
The users who desire more than usual could choose personal training either online or offline, or partake in fitness challenges, boot camps, or special wellness programs. Only for a higher fee, these services allow for increasing the average revenue per customer.
How the Money Adds Up in 2024
So, for the last financial year, Cult Fit has made a revenue of approximately ₹926.6 to ₹927 crore from its core activities, which indicates a growth of about 33 to 34% year-on-year. The company had a total income of about ₹1,027 crore, which is the sum of all those revenues from the main business + other income. Around 72% of the total were fitness subscriptions and services such as cultpass, whereas the sales of Cultsport products accounted for approximately 28%, or about ₹257 crore.
Updates You Should Know
Just so you know what is going on, in April 2024, Cult Fit announced Naresh Krishnaswamy as their new CEO, while cofounder Mukesh Bansal took over as chairman. In fact, in February 2022, they went on to acquire a majority stake in Gold’s Gym India, that’s how becoming its master franchise partner. Moreover, in November 2021, their worth skyrocketed beyond $1.5 billion with Zomato’s investment in their Series F round.