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Covid-19 second wave: Industry players paint a grim picture for the gym sector

It’s yesterday once more for gym owners. Just at things were looking up and people were flocking to gyms to stay fit, they have been forced to close their doors again, as the explosion in coronavirus cases has led to lockdowns in many cities

April 27, 2021 / 09:26 AM IST

Prudhvi Nimmagadda, who owns a gym chain in Bengaluru, operating six centres under the brand name F45 Training, said that the second wave of Covid, which has led to gym closures, couldn’t have come at a worst time. “We were allowed to reopen last September, and we saw 60-65 percent of our pre-Covid business coming back in the January to March period this year. But now it is like going back to the drawing board,” he said.

Revenue has completely dried up, said Nimmagadda, adding that negotiations in terms of rents are harder this time.

“At the beginning of this month, gyms in Karnataka were asked to shut for two to three days. The utilisation of gyms from 70-75 percent went gone down to 50-55 percent due to the confusion and later fell to 30-35 percent. Also, the new-lead funnel has completely dried up,” said Nimmagadda.

An industry under stress