KUALA LUMPUR: Curves Malaysia, an all-women fitness club, aims to attract Investor Partners this year to become part of an international fitness franchise..
Chief executive officer Alison Chin said the company is pooling in investors and finalising the details to raise a minimum investment of RM100,000 from individual investors for new club openings in Malaysia.
“We aim to gather contributions from various investor partners until the fund reaches a minimum of RM550,000 to begin opening new clubs in various locations.
“Our strategy includes opening up to three clubs in the first year, and Investors can expect solid annual returns after the club’s membership stabilises after opening,” she told The Exchange Asia.
Chin said that once operational, Curves’ business model incurs minimal ongoing costs compared to other industries, like restaurants, which require continuous investments in supplies.
The business model also works on a membership subscription basis, which results in consistent cash flow for the company.
“We have successfully run our existing concept, which has thrived despite Covid, and also launched a new signature concept in February this year. We plan to fund this venture within the next two to three months.
“Our primary focus is on marketing, particularly targeting our core demographic of women aged late 20s to mid-50s who value health and wellness. We aim to open two more clubs by the end of the year,” Chin said.
She said the company needs to meet considerable demand within the Klang Valley due to proximity.
Location-wise, Chin said joining and consistency become unlikely unless individuals live or work within a 15-minute radius. Therefore, the company is mindful of the location for any future setup.
“We are also considering expanding to other states, such as Penang, Johor, or Malacca, where we currently do not have a presence. We have received numerous inquiries from these states,” Chin said.
She said that since early this year, the company has been brainstorming ways to innovate and enhance services for its existing members.
“With that in mind, we aim to collaborate with suitable partners, whether franchise or joint venture partners,” Chin said, adding that Malaysia holds immense potential.
“However, for this year, our focus remains on leveraging our expertise in Klang Valley and our familiarity with our business operations. We aim to concentrate our efforts here initially before expanding further,” Chin said.
