Fitness startup OneFitPlus eyes ₹350 cr revenue by 2023

Fitness merchandise startup OneFitPlus (OFP) on Wednesday mentioned it’s increasing its product lineup and bolstering its manufacturing capabilities within the nation because it goals to log 350 crore in income by March 2023. The Hyderabad-based firm, which offers in linked health tools like treadmills, indoor bikes and bicycles, mentioned it additionally plans to foray into e-bicycles phase by Diwali this 12 months.

OFP has just lately launched a brand new bicycle ‘Bolt’ underneath its Urban Terrain model that provides a variety of mountain and fats tire bikes. “We have witnessed 3x development in FY2022 (to date when it comes to variety of models bought) and establishing its personal manufacturing unit would assist present extra worth, vary and enhance demand fill charges,” OFP founder CEO Mohit Mathur advised PTI.

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He added that the manufacturing unit is in Greater Noida with a manufacturing capability of as much as 60,000 bikes on a yearly foundation. “The manufacturing line has been arrange for Bolt at present however we might be ramping up as we plan to enter the e-bikes phase by Diwali. These e-bicycles might be priced between 25,000 to 30,000,” he mentioned.

Mathur said that its health equipment and train bikes are additionally manufactured in India. “OFP intends to place main initiatives into manufacturing as they purpose to turn into an ‘atmanirbhar’ (self-reliant) model which is proud to be made in India. From a enterprise standpoint, firm owned manufacturing offers manufacturers like OFP a greater management over provide chain and permits them to cross the fee profit to its clients,” he mentioned.

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Mathur mentioned OFP offers a whole ecosystem to their clients – proper from private coaching to weight-reduction plan and vitamin plans. “The manner it really works is {that a} buyer purchases both spin bikes or treadmills from OFP, they’ll obtain the app on their smartphone or pill, dock the gadget on spin bike or treadmills and join in a reside exercise session. We additionally present on-demand private coaching, vitamin and weight loss program session and have voice assistant integration out there within the app,” he defined.

He added that the corporate at present has revenues of 150 crore and goals to the touch 200 crore in revenues by March subsequent 12 months and 350 by March 2023. On Urban Terrain, Mathur mentioned the corporate expects the model to clock 100 crore in income in FY23. “Urban Terrain provides out of doors bikes with exact technological detailing to supply the final word using expertise. The bikes are priced between 9,000 to 15,000 and embody pan-India set up, weight loss program plans and private coaching movies,” he mentioned.

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Urban Terrain was arrange in January 2020 and the bikes are priced 11,000 onwards. With Bolt, the corporate is tapping into the mid-premium vary ( 9,000-15,000). Mathur identified that 65 per cent of its cycle gross sales comes from tier II and III cities, the place these premium cycles are being bought by health lovers.

“The clients in small cities are in no way averse to spending on health associated tools. Professionals like medical doctors and attorneys in these cities are significantly . That’s what our gross sales information tells us,” he mentioned. OFP has additionally launched a multiplayer health gaming model inside its Fitwarz app. The linked recreation might be performed on the treadmill and spin bike from the corporate. The platform motivates customers to train by providing a aggressive real-time multiplayer expertise and engages them by way of its gamified strategy. 

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