This Indian Fitness Discovery Company is Now Coming to Southeast Asia Entrepreneur Asia Pacific spoke to Gympik's CEO and founder on his Southeast Asia expansion plans and more
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Software company Gympik, that helps gyms manage their database and consumers discover fitness options around them, recently announced its intentions to expand from India, into Southeast Asia, betting on its B2B enterprise software, Traqade, that helps gym centre owners process and store their data safely on a cloud-based platform, as well as its B2C product - a website that allows consumers to search, review and book fitness classes wherever they are.
In India, Gympik is present in as many as 40 cities, across more than 14,000 fitness and wellness centres. The company has now set its sights on Singapore, Philippines, Malaysia, and eventually, the rest of Southeast Asia, a fitness market poised to be worth more than $373.5 billion by 2023, as per the company's own estimates.
Commenting on his expansion plans, Amaresh Ojha, chief executive officer and founder of the company said his team, during the beta testing phase, learned that there was a real need in SEA for a platform that could help fitness centres in the region maximise sales, drive repeat purchasing, and fill last minute group class spots.
"Asia Pacific region is an expanding market where fitness services are standardized and high in demand along with a growing concentration of leading players," said Ojha in an interview with Entrepreneur Asia Pacific.
The gym management software space currently is dominated by a number of established players such as RhinoFit, Treshna Enterprises, Clubworx, EZFacility, Glofox, among others. They largely hold most of the gym management software services market in Asia, too, including Singapore and Malaysia.
In India, the company competes with GymChalo Fitness Services, Gympp.com, and Fitternity.
Gym management software services help fitness centres with tasks such as scheduling appointments, tracking memberships, managing waitlists, handle online bookings, payrolls, etc. Modern gyms are increasingly looking to standardise member data storage these days, especially in case they're looking to open multiple branches, or even franchise.
But Gympik says it believes its unique model that brings customers and fitness centres together on one platform is something that sets it apart.
"We are making waves by reinventing the model and getting the entire ecosystem integrated on one platform – seekers, providers, merchandisers etc. By aggregating all these modules on one holistic platform, Gympik is making it easy for consumers to discover & book fitness services while making it easy for the fitness service providers to grow their business with our gym & club management software," said Ojha.
Asia is obviously a huge, diverse market, and no two countries behave the same. Startups that have tried to use a "one size fits all' model while growing in the region have only seen very limited success, if any.
But Gympik is banking on its hyperlocal appeal, that connects fitness centres with potential customers in any region, says Ojha.
"User reviews are Gympik's content currency, and they also enable the fitness centre owners to get 360-degree feedback from the members or prospects," he adds.
Ojha and Gympik are also pinning their hopes for growth on the rate of fitness penetration in Asia, which is higher than in India.
"In India, the fitness industry is concentrated mostly in densely populated cities, and while India is the most populous country in the world, only 0.15 per cent of the population in the country uses health clubs regularly, compared to 4.28 per cent in the Asia Pacific region," Ojha told Entrepreneur Asia Pacific.
The company will be able to tap more than 25,000 clubs & 22 million club members across South East Asian region once it's up and running in the region.
Gympik has raised $4 million till date from investors including Seattle-based Round Glass Partners. It has $3 million in estimated revenue annually, according to data aggregator website Owler.