Basic-Fit CEO, Rene Moos, says 2024 is “going to plan” as the low-cost operator continues to open clubs across Europe and progresses plans for franchising.
Revenues increased by 19 per cent to €892 million in the first nine months of 2024 compared to the same period last year, with a 14 per cent increase in the number of clubs.
The low cost operator’s ambitions for 2024 was to increase its number of clubs to around 1,575 and revenue to between €1.2 billion and €1.25 billion. CEO, Rene Moos, says it’s going according to plan.
During the first nine months of this year 173 clubs opened and five closed. Most of the club openings have been in France (71) and Spain (70) with 11 in Benelux and 16 in Germany.
The number of clubs stood at 1,570 at the end of September, the number of memberships has increased 13 per cent year on year to 4.2 million and the average revenue per member per month has increased to €23.86, compared to €23.28 this time last year.
“The first nine months of the year developed according to plan with continued strong growth in revenue and memberships,” says Moos. “We are well on track to reach our year-end targets and empower an ever-growing number of individuals to embrace a healthier lifestyle.”
Having announced last year that it was planning to move into franchising, Basic-Fit has confirmed it expects to launch a franchise platform during 2025. It will require limited capex and opens possibilities to expand into new countries. Talks are currently underway with strong potential franchisee partners with ample experience in their respective countries.
Tweaks to the membership structure are also planned for next year, with the introduction of weekly prices, which has already been implemented in France. A Basic membership now costs €4.99 a week (from €19.99 per four weeks); a Comfort membership is €6.99 per week (from €24.99) and a Premium costs €7.99 (from €29.99)
Membership numbers are growing in France thanks to continued investment and longer opening hours. The offering is still being improved, with massage chairs being added and further increasing opening hours.
The company is aiming for ROIC of mature clubs of more than 30 per cent and Moos says the average revenue and the average underlying club EBITDA less rent over the first nine months improved over the same period in 2023.
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