Date 23/Jan/2023 – Season 3
WTF – Witness the Fitness. Fitness Simplified: Unraveling the Shark Tank India Episode
WTF, an acronym for “Witness the Fitness,” unfolds as an entrepreneurial venture founded by Vishal Nigam and Anita Nigam.
The business model involves partnering with local gyms, rebranding them into premium fitness centers equipped with the latest technology.
This strategy aims to ensure both affordability and efficient operation of the gyms. The founders have also introduced a Fitness AI Bot named “Fitty,” integrated into their mobile app.
With a presence in over 43 gyms across NCR and Bangalore, WTF Fitness plans to expand its reach to Kolkata. Seeking a 1 crore investment for a 2% equity stake at a 50 crore valuation, they propose a five-year partnership with local gym establishments.
During the Shark Tank pitch, Anupam raised concerns about the dual control system, suggesting potential conflicts between infrastructure owners and WTF’s proposed operations.
Aman questioned the buzzwords like AI and tech data analysis, emphasizing the importance of common sense over relying solely on historical data for ambiance assessment.
Deepinder Goyal pointed out practical issues, including a 9-digit phone number in promotional material and grammatical errors, emphasizing the need for attention to detail. However, he ultimately decided to opt out due to these concerns.
As the Sharks delved deeper into the financials, Aman found the model confusing, and Namita expressed a lack of trust in the business model and founders.
Vineeta attributed the challenges to the cultural dynamics of India and its impact on gym renewal rates, leading her to opt out. Anupam concluded by stating that previous models similar to WTF’s had failed in the Indian market.
The Sharks collectively rejected the investment proposition, citing an overselling of the concept without substantial weight.
For more information, visit WTF Fitness Simplified.
WTF Fitness Simplified: Summary
- Founders and Concept:
- Founded by Vishal Nigam and Anita Nigam.
- Partners with local gyms, rebrands them into premium fitness centers.
- Introduces “Fitty,” a Fitness AI Bot, along with a mobile app.
- Expansion and Funding:
- Operates in 43+ gyms across NCR and Bangalore, with plans for Kolkata.
- Seeking 1 crore for a 2% equity stake at a 50 crore valuation.
- Proposes a five-year partnership with local gyms.
- Shark Tank Review:
- Anupam raises concerns about the dual control system, questioning its viability.
- Aman questions the use of buzzwords like AI and tech data analysis.
- Deepinder Goyal highlights practical issues, such as a 9-digit phone number and grammatical errors.
- Financials:
- Claims approximately 60 lacs per month, but Anupam challenges this figure.
- Founder clarifies the operation is currently in 20 gyms, averaging 3 lacs per gym.
- Operational costs are 1.5 lacs, leaving less than 1 lac as profit.
- Shark Rejections:
- Aman and Namita express distrust and confusion in the business model.
- Vineeta attributes challenges to cultural dynamics, opting out.
- Anupam cites the historical failure of similar models in India.
- All Sharks collectively reject the investment proposition.
- Conclusion:
- Despite initial interest, practical and financial concerns led to unanimous rejection by the Sharks.
- Website:
WTF Gym Shark Tank India Episode Review