Stay Fit Gym, the second largest chain of fitness centers in Romania, according to the number of open centers, continues the local expansion process, reaching 21 fitness centers. Following Morphosis Capital’s investment in the company, as of the end of 2021, Stay Fit Gym has tripled its number of centers in the 18-month period.
“Stay Fit Gym’s journey over the past year and a half has been spectacular in the landscape of the fitness industry in Romania. During this time, we have opened a new fitness center almost every month, which brings us closer to our goal of becoming the strongest fitness chain in the country. Also, the financial results we are recording are superior to the forecasts set at the beginning of the project, together with our partners from Morphosis Capital. These aspects, combined with the development of the geographical footprint, which generated a directly proportional increase in the number of community members, motivate us to accelerate the expansion process. In this continuous race, our entire team is dedicated and involved because ‘enjoy the journey’ is not a simple wish but is part of the foundation of our company,” stated Alexandru Lascar, CEO of Stay Fit Gym.
In 2023, Stay Fit Gym continued the accelerated expansion process that started in 2022, opening five new fitness centers in the first six months of this year, which marked the company’s entry into three cities: Buzau, Iasi, and Ramnicu Valcea. The total value of the investments made by the company to open the five centers was 16 million lei.
The 21 fitness centers currently owned by Stay Fit Gym cover an extensive geographical area, consisting of the municipality of Bucharest and seven other cities in Romania: Buzau, Galati, Iasi, Pitesti, Sibiu, Ramnicu Valcea, and Voluntari. Regarding the distribution of fitness clubs at the national level, 11 of them are located in Bucharest, and there are two Stay Fit Gym centers in Pitesti, Galati, and Sibiu, and one center in Buzau, Iasi, Ramnicu Valcea, and Voluntari. In the next period, Stay Fit Gym will open two new centers, in Bucharest and Piatra Neamt. In addition, the company plans to open seven more clubs by the end of this year to end the year with 28 fitness centers open nationwide.
“The fitness market in Romania is developing quickly, and Stay Fit Gym’s business model is extremely well adapted to local needs. This is due to highly motivated founders with the necessary resources to scale the network nationwide rapidly. Stay Fit Gym’s fitness centers are suitable for both large and medium-sized cities, and our vision is to increase Romanians’ access to quality fitness services at affordable prices so that Stay Fit Gym becomes a reference point in terms of adoption by the Romanian population of a healthy lifestyle by maintaining a high physical and mental state. We plan to open about 40 fitness centers in the next three years. With additional funds, this business can reach 80 or even 100 such centers in the next five to seven years,” stated Adrian Netea, Investment Director at Morphosis Capital.
In 2022, Stay Fit Gym recorded total revenues of 19.5 million lei, a 130% increase compared to 2021. In addition, the company also recorded an exponential increase in the number of subscribers – from approximately 4,200 at the beginning of 2022 to around 20,000. This year, Stay Fit Gym targets 40 million lei in revenues, a 105% increase compared to 2022, based on the company’s expansion strategy and organic growth.
About Stay Fit Gym
Stay Fit Gym, founded in 2012 by three Romanian entrepreneurs – Alexandru Lascar (CEO), Marius Preodisteanu (Head of Expansion), and Laurentiu Lascar (Operational Director), is currently the second largest chain of fitness gyms in Romania by the number of open centers. Currently, the company operates 21 open centers in Bucharest, Buzau, Galati, Iasi, Pitesti, Sibiu, Ramnicu Valcea, and Voluntari. The network offers various services to people who carry out physical activities, such as aerobics and functional training classes, personal trainer, and sauna. All 21 fitness centers are equipped with state-of-the-art equipment. The Stay Fit Gym centers are Grand Arena, Lemon Park, Fizicienilor, Colosseum, Domenii, Pipera, Liberty, Cocor, Vitan, Pantelimon, Teiul Doamnei, Titulescu, Pitesti Central, Pitesti Nord, Galati Central, Galati Shopping City, Sibiu Malului, Sibiu Promenada, Valcea Central, Buzau Central and Palas Campus.