Snap Fitness, Chanhassen, Minnesota, is seeking to expand its footprint in India by 300 clubs during the next three years, according to a report from The Hindu BusinessLine.
“India was the first country I entered into outside of the U.S. in 2008,” Peter Taunton, CEO and president, Snap Fitness, told the publication on March 11. “While we are growing at a steady pace, we could grow much faster if entrepreneurs who want to be our business partners have access to loans from large banking institutions at fair interest rates.”
Snap Fitness, a Lift Brands Inc. company, currently operates 49 clubs in eight cities nationwide in India, according to its website. The locations are concentrated in Karnataka (27) and Delhi (16).
The Hindu BusinessLine report is not the first time Snap Fitness shared its intentions to expand in India. Snap Fitness India CEO Dr. Virkam B.M. announced plans to open 300 clubs by the end of 2017 back in 2014.
Snap Fitness has more than 2,000 clubs open or in development in 18 countries.