In a snapshot
Recently the Pune-based fitness-centric startup (SQUATS) received funding from the Bollywood star – Mr Suniel Shetty himself. The amount remains undisclosed by both companies. SQUATS already enjoys a 500,000 following and has generated 8.5 + million dollars in revenue. And this is all without any external marketing. Shetty’s funding paves the way of strengthening SQUATS even further. With Shetty’s investment, the company shall back up its technological framework. They would be able to expand pan India and build a more efficient team.
The Indian fitness industry today and the premise for SQUATS
One of the key changes in the Indian landscape and the mindsets of the people here has been that of fitness-oriented enthusiasm. Today the country is increasingly becoming aware of the significance of staying healthy and fit. No wealth without health is finding its true meaning with the youth chasing a healthy lifestyle. And the fitness entrepreneurial industry is showing yearly positive growth.
From vegan diets to those gluten-free, from hardcore gyming to early morning jogs by the sea, from protein shakes to ‘Ghar ka nuskas’, from personal trainers to regular consultations with a dietician – the world of fitness is over-encompassing in itself. It is extremely multi-faceted with a broad range of dos and don’ts. While some prefer hitting the gym, some like to indulge in everyday sports (squash, tennis etc).
Did you know dancing can also be a great form of workout? What to eat and what not to eat? Can I just control my diet and lose all those extra Kgs? Such questions and more are what trouble aspiring fitness enthusiasts. Moreover, fitness also varies with body-types.
With so many different areas and techniques, getting fit can become all that more confusing. People find themselves puzzled about which way forward is the best. And to arrest this exact gap in the industry, the community based initiative SQUATS came into being. Today the company is changing the game and is valued at a whopping 350crores!
How did it all begin?
SQUATS was essentially started by a fitness enthusiast – Jitendra Chouksey. However, what’s interesting is that this literally fell on him.
He was actually a consultant in an IT company at the time. Due to his passion and knowledge in fitness, he would counsel his friends on the same. They actually started seeing effective results and the word spread.
Chouksey was hoarded by hundreds asking him to train them. He obviously couldn’t keep up with the fitness consultations. So he made a booklet with essential fitness tips and put it up on his Facebook profile. But this also did not arrest the demand. “Lots of people still wanted me to train them and they were ready to pay me,” – Chouksey recalls.
He then made an online page to answer basic queries. Finally, he stared a marketplace where people could achieve fitness consultations and training as per their individual needs.
All in all, Squats started as an online community. Around 90,000 INR was invested by Chouksey and 6 others who believed in the vision. The key was to provide fitness-relevant information which was aptest to all.
From being funded by a popular Bollywood Biggie himself to be formally recognized for its great work in the fitness space – SQUATS has enjoyed a path that is impressive, to say the least. SQUATS has been awarded by Worldwide Achievers as ‘Best Wellness Service Provider in Maharashtra, in 2017. Also as ‘Best Fitness Company in Pune 2017 by Merit Awards.
Till date SQUATS has helped over 70000+ people transform into fitter selves who’ve paid the company for the same. The community today (5, 00,000 +) is a highly passionate and engaged group who exchange key insights about the world of fitness and health.
The long-term goal of SQUATS is to make 5o million people fit. Its differentiator is that its approach is result-oriented.
SQUATS and Shetty together
It is not the first time that Shetty has invested in a start-up. Prior to this he funded the grooming company Beardo. He evidently likes to keep up with the preferences of the youth of today and the changing entrepreneurial landscape. With his interest in a fitness space too, this is apparent.
With Shetty’s investment in place, SQUATS aims to focus India’s outlook on preventive health-care rather than curative. They together shall encourage India to adopt a healthy lifestyle from the outset so that future health-related problems can be prevented. They together also aim to create 1 Lakh jobs in the space.
In Suniel Shetty’s words: “ My career as a Bollywood actor aside, staying fit and active is a choice that I consciously made since my teens. I have always believed in keeping it natural.”
“However, in today’s time, when all kinds of false information about fitness are common, there is a critical need for companies like SQUATS, which address the issues of trust and credibility in the Indian fitness space, focusing on ‘balancing quantified nutrition with weight training’ and delivering exceptional results.”
“With this collaboration, together with SQUATS, I pledge to make India fitter.”
How does SQUATS work?
SQUATS has its own mobile app- called the ‘FITTR’. Those looking to adopt a new healthier way of living should download the same. The app provides only the best knowledge about fitness techniques etc. It bids farewell to confusion, addressing against all common misinformation advocated in the industry otherwise.
One-to-one consultations on fitness-related hacks are the key. SQUATS also holds corporate webinars. Amongst some of the big corporate clients that SQUATS has consulted include Infosys, Tata Power and Reliance Mutual fund. If one opts for a 3 month-training, they would be fishing out anywhere between INR 7000 to 20000.
What’s more? Not online online-based training and community SQUATS now has a physical presence too. They’re expanding with brick-and-mortar centres. Cities such as Mumbai, Delhi, Hyderabad and Pune already have one each for promoting wellness with a personal touch. The aim is to have a network of 120 such centres by 2020.
Inventiva congratulate and wishes all the best to the entire team of Squats