Stay Fit Gym has opened its 47th unit in its national network in Bucharest's Rahova neighborhood.

The center in Rahova covers 1,200 sqm and includes areas for fitness, functional training, cardio, and group class studios. The investment in the design and opening of this center amounted to approximately RON 3.5 million (EUR 700,000).

Since the beginning of this year, the company has opened 20 fitness centers, both on its own and through acquisitions, with total investments of around RON 70 million (EUR 14 million).

By the end of 2024, the company plans to reach 48 centers with the opening of a new location in Stefanesti, scheduled for December. In January 2025, Stay Fit Gym intends to open two more centers, achieving a milestone of 50 locations just three years after the private equity fund Morphosis Capital became a shareholder. At the time, the network covered seven centers.

Stay Fit Gym is present in 22 cities across the country. The company operates fitness centers in Alba Iulia, Arad, Bucharest, Braila, Buzau, Cluj, Constanta, Craiova, Galati, Iasi, Piatra-Neamt, Pitesti, Ploiesti, Ramnicu Valcea, Sibiu, Targoviste, Targu-Jiu, Timisoara, and Vaslui. With the opening of the Stefanesti fitness center in December, the company will conclude 2024 with 20 centers in the Bucharest region, including in most city neighborhoods as well as the metropolitan area.

The network currently has more than 42,000 active members, compared to approximately 22,000 during the same period last year, and expects to close 2024 with revenues of around RON 75 million (EUR 15 million), up from RON 41 million in 2023. The company aims to reach 100 fitness centers by the end of 2027.

"The opening of this new center marks a significant milestone for us both by expanding our network to 47 locations and also by becoming the market leader in Romania and Eastern Europe in terms of the number of open centers," Alexandru Lascar, co-founder and CEO of Stay Fit Gym, said.

 "The accelerated expansion that we have achieved over the past three years has been remarkable but not without challenges. The biggest difficulty was convincing commercial space owners across the country to choose us over other players in the market. However, once we began opening fitness centers and they noticed the high standards we uphold, more and more of them came to us. As a result, we now have multiple long-term contracts signed, including for locations set to open in 2025, 2026, and 2027. We are the fitness network with the most locations in shopping centers and retail parks, demonstrating our partners' trust in our business model. These long-term collaborations also provide the stability and security we need to continue expanding sustainably, maintaining a focus on quality and accessibility for our members," said Marius Preodisteanu, co-founder and Head of Expansion of Stay Fit Gym.

Stay Fit Gym was founded in 2012 by Romanian entrepreneurs Alexandru Lascăr, Marius Preodișteanu, and Laurențiu Lascăr.

(Photo: the company)

simona@romania-insider.com