Power Plate India, a JV between Power Plate International and Hero Motors Ltd, which manufactures vibration products for acceleration traning programme, has opened its maiden Power Plate Studio in the capital. Spread across 1000 square feet area, the studio opened at Sainik Farms, New Delhi is a franchised venture. Further, the company plans to open around 50 such studios by the end of this year.
Speaking to IndiaRetailing, Kuldeep Verma, VP, marketing, Power Plate India, said, “This is the first studio in the country which is managed by the company and is a franchised model of business. The maintenance and training will be completely under our supervision.”
Elaborating the expansion plan, he said, “In India, the brand is one-and-a-half-year old. Vibration training in India is a new concept. We have planned to open around 50 studios and are looking at opening our studios at top metros which will be followed by tier II cities. Further, we are also coming up with different business models this year.”
“For a franchise, the partner should arrange a space of 700-2,000 square feet. Our typical studio set up requires 4-5 machines. Excluding the space cost, the franchisee requires to invest Rs 15-20 lakh. Besides opening exclusive studios, we are strengthening our dealers’ network and entering into partnership with sports and performance centres and fitness centres. We should be doing a business of approx Rs 1 billion by the end of 2009,” added Verma.
Meanwhile, Pankaj Munjal, MD, Hero Motors India, informed that two new products are in the pipeline to launch this year.
— Sarimul Islam Choudhury