Basic-Fit reports strong growth and starts franchise business

Revenue increased by 17% to €892 million in first nine months. Number of clubs increased by 14% (up 194) to 1,570 versus a year ago. Number of memberships increased by 13% year on year to 4.20 million. Average revenue per member per month increased to €23.86. Revenue for total year 24 is expected between €1.20 billion and €1.25 billion.

Woman exercising at Basic-Fit - edelhelfer

Excercising at Basic-Fit

In the first nine months, Basic-Fit increased its club network by 168 clubs to 1,570 and opened 173 clubs and closed 5 clubs. Most of the club openings were in France, where it operated 852 clubs (YTD +71) at the end of the period. In Spain it increased the club network by 70, including the 42 acquired clubs, to 209 clubs. Nearly all acquired clubs were converted to the Basic-Fit brand at the end of the quarter. In the Benelux it increased the number of clubs year to date by 11 to 481. In Germany it increased the number of clubs by 16 to 28 clubs.

With respect to revenue, Basic-Fit reported a 17% increase to €892 million over the first nine months of 2024 (9M 2023: €765 million). The increase is the result of a strong club openings programme and the growth in memberships, combined with the higher average revenue per member. From 2025 onwards, the company will implement some changes to its membership structure. Ahead of this, it already introduced weekly prices in France as of 1 October, emphasising the affordability of a membership. This also allows for slight price increases of the Comfort and Premium membership. A Basic membership now costs €4.99 a week (from €19.99 per four weeks), a Comfort membership €6.99 and a Premium membership €7.99 a week (from €24.99 and €29.99 per four weeks respectively).

Rene Moos, CEO of Basic-Fit comments:’The first nine months of the year developed according to plan with continued strong growth in revenue and memberships. We are well on track to reach our year-end targets and empower an ever-growing number of individuals to embrace a healthier lifestyle.’

After having announced plans to explore a franchise model during the capital markets day in November 2023, Basic-Fit expects to launch a franchise platform during 2025 in which it can leverage its scale advantages, technologies and knowledge. The franchise business will require limited capex and opens up possibilities to expand to new countries. The company is currently in discussion with strong potential franchisee partners with ample franchise experience in their respective countries. Basic-Fit expects that the first franchise clubs will be opened in the course of 2025.

Niels Gronau, fitness market expert at edelhelfer, comments: Basic-Fit appears to have exceeded market expectations with its performance in the current year and its plans for the future, as shown by the increase in the share price of around 7% in response to the publication. The continued growth in clubs and membership, but also the new pricing structure and the planned franchise business seem to be fuelling the imagination of investors.’

Quelle: Basic-Fit
Bild: Basic-Fit

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