TOPstretching, the leading chain of stretching and HIIT fitness studios, has announced huge plans for expansion in the United Arab Emirates after enjoying massive early success in The Gulf Tiger.
Established in 2002 with the vision of becoming the largest ‘women-only’ fitness community in the world, the business is eyeing four new facilities nationally, with an overall goal of hitting 1,000 franchises globally in the next five years – quite a leap from its current roster of 33 sites.
The latest announcement follows a busy couple of years of growth for the business. In 2020, the fitness outfit expanded its Dubai operations by opening a high-end 25,000sq ft space in Palm Jumeirah. Part of its ambitious plans for the city, the move followed the successful launch of its first studio in Dubai Marina.
“Our goal is to be the top fitness business and solution globally,” said Managing Partner, German Gussakovskiy.
“Annual sales per unit are in the region of half a million dollars, with margins of 55 per cent compared to the fitness industry’s average of 9.6 per cent, thanks to low Capex and minimal overheads.
“Our niche focus on women only means we have a competitive edge in a $37-billion market which is expected to grow at around 5 per cent, making TOPstretching an extremely attractive investment proposition.”
Managing Partner, Dmytro Kanyuk, added: “We are a special community that unites and empowers women not satisfied with commercial gyms or the ‘for everyone’ concept fitness studios that offer little innovation and poor results.”