
cult.fit Franchise
FOCO gym franchise, ₹1.8–3 Cr stated; claims 25% avg ROI. Filing: 42% of matured franchise centres reached 20% centre profit (FY26). 708 centres.
cult.fit franchise at a glance (terms checked Oct 2026)
Investment
₹1.8 Cr - ₹3 Cr
In line with the category (typical ₹76.25 L–₹2.48 Cr, median ₹2.2 Cr, 6 verified brands)
Ongoing take
Not published
Franchise fee
Not published
Non-refundable
Payback
about 27–48 months before ramp-up*
* Not verified — the brand doesn't publish this; the figure comes from other published sources or FranchiseChuno's estimate (see "Reported elsewhere" and "Our estimates" below). Real numbers can differ.
- Outlet network shrank from 588 (All centres, 31 Mar 2024) to 174 (Cult-branded franchise-owned (on-app), 31 Mar 2026)
- Legal or regulatory action on record — see Reputation & News
- Disputes with franchisees: None found (records checked Oct 2026)
- Company standing: Active and up to date with the registrar
- Ratings: 4.7/5 across 2 platforms
Outlets
708 (brand claim)
What we couldn't verify
- • Outlet closures
- • Franchisee satisfaction
- • Profit or loss
- • Revenue trend
Ask before you sign
- Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- Ask for the one-time franchise fee in writing, and whether any part is refundable.
- Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
Franchise terms checked against cult.fit's official franchise page on 12 Oct 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Investment Breakdown
Per franchisorWhat is included, and whether GST is extra, is not stated.
From Cult's Jul 2026 draft prospectus description of own-brand franchise agreements.
Total excludes a charge whose amount cult.fit doesn't disclose.
Ongoing charges
Model your own numbers in our calculator
Open the ROI calculator* Breakdown as published by cult.fit. cult.fit confirms 2 charges without disclosing the amount — get it in writing before you pay.
Ways to Partner with cult.fit
2 partner models published by the brand. Figures it doesn't publish are left blank.
Cult gym (franchise-owned, Cult-operated)
- Investment
- ₹1.8 Cr – ₹3 Cr
- Royalty / margin
- Cult claims an average 25% annual return on investment (up to 30–45%); how revenue is shared between the partner and Cult is not published
- Territory
- Not stated; Cult says centres are placed 'to maximise demand and minimise overlap'
- Who it suits
- Cult says no prior fitness-industry experience is needed because the gym is managed by Cult's systems
Investment is the range on Cult's franchise page; the bands it offers prospective partners also include ₹3–5 Cr and ₹5 Cr+.
CultPass marketplace gym (existing gym owners)
- Investment
- —
- Royalty / margin
- Cult collects member fees and pays the gym a percentage of gross revenue on a tiered slab, reconciled fortnightly (prospectus); the gym bears rent, salaries and upkeep
- Territory
- Not stated
- Who it suits
- Existing gym owners; the CultPass partner page asks 'Do you own a gym?'
A platform tie-up, not a franchise: 202 such gyms in five cities at 31 Mar 2026.
Our Estimates
FranchiseChuno estimatecult.fit doesn't publish these, so here is our best read of the market and how we got there. They are our estimates, not the brand's figures — use them to plan, then confirm the real numbers in writing.
Simple payback implied by Cult's own return claims
about 27–48 months before ramp-up*
Arithmetic on the brand's claims only: payback = 1 ÷ annual ROI. Cult's 'average' 25% a year gives 48 months; its 'upto 45%' gives about 27 months. It ignores the ramp-up period, and Cult's prospectus shows only 42.17% of matured franchise-owned centres reached a 20% centre profit (a margin measure, not ROI) so outcomes vary by centre; treat it as a best-case reading of the claim, not a forecast.
Adjusted from reports · Oct 2026
Unit Economics
Mixed sourcesHow cult.fit says an outlet's numbers work. These are illustrations, not guarantees — check them against existing franchisees before you sign.
Cult gym (franchise-owned, Cult-operated)
- Return on investment, as headlined on the franchise pageShown as 'Avg. 25% Return on Investment'; no sample size or period.
- 25 % a year
- Return on investment, as stated lower on the same pageShown as 'Upto 30 to 45% return on investment'; an 'up to' claim.
- 30 – 45 % a year
- Matured franchise-owned centres reaching at least 20% centre profit (FY26)Company-defined operating metric in its draft prospectus; the number of centres behind the percentage is not stated. By comparison 45.16% of matured company-owned centres reached 30% and 39.10% of marketplace centres reached 15%.
- 20 % of centre revenue
What cult.fit Says You Can Earn
Brand claimcult.fit's own claim — no evidence given. These are not FranchiseChuno's estimates or a promise of earnings; ask existing franchisees what they actually make.
- Annual return on investmentYearly profit as a share of the total investment.
- 25%
Cult's franchise page headlines 'Avg. 25%' return on investment and, lower down, 'Upto 30 to 45%'. The two claims aren't reconciled, and no sample size or payback is given. Separately, Cult's prospectus says 42.17% of matured franchise-owned centres reached a 20% centre profit in FY26; that is a margin on centre revenue, not an ROI, so the two can't be converted into each other, but it is the closest franchise-centre outcome Cult discloses.
Reputation & News
6 red flags to checkWhat the press, courts and real franchisees or customers have said about cult.fit — summarised by us, with every source linked.
- In the news· Jul 2026
Still loss-making: FY26 net loss ₹251.9 Cr on ₹1,720.6 Cr revenue
The restated consolidated accounts in the IPO draft show losses of ₹888.5 Cr (FY24), ₹480.8 Cr (FY25) and ₹251.9 Cr (FY26). Entrackr computed a small positive EBITDA of ₹45 Cr for FY26; the company's own 'adjusted EBITDA' was ₹144.8 Cr.
Source: Entrackr - In the news· Jan 2024
About 150 employees laid off in January 2024
Entrackr reported on 23 Jan 2024 that Cult.fit laid off around 150 employees, senior to mid-level; the company said it was reducing redundant positions as part of annual operating planning and denied it was cost-cutting.
Source: Entrackr - regulatory· 9 Jul 2026
Late statutory payments and audit observations disclosed in IPO draft
Outlook Business reported that the draft prospectus discloses delays in paying provident fund, ESI, TDS and GST in FY24–FY26, and auditor observations that backups of sales books at premium centres were not kept daily and audit trails in third-party point-of-sale software could not be confirmed all year. It also reported that franchised and marketplace gyms were 69.21% of centres and that Cult has 'limited operational and financial control' over them.
Source: Outlook Business - regulatory· Jul 2026
Delhi civic body notice on a Cult gym (June 2026, alleged)
The Municipal Corporation of Delhi issued a show-cause notice dated 12 Jun 2026 to Cultfit Healthcare Pvt Ltd alleging its Lajpat Nagar gym operated without a valid municipal health trade licence and directing closure until one is obtained; the company says it replied and is addressing the observations. Pending as of the 7 Jul 2026 filing.
Source: Draft red herring prospectus - regulatory· Jul 2026
Legal Metrology improvement notice over e-commerce labelling (July 2026, alleged)
A Legal Metrology inspector in Dehradun issued an improvement notice dated 2 Jul 2026 alleging that packaged goods sold on Cult's e-commerce platform lacked mandatory declarations; compliance was demanded within 15 days. Pending as of the IPO draft.
Source: Draft red herring prospectus - Legal / regulatory· Jul 2019
2019 police complaint by a member over 'unlimited' classes (alleged)
Inc42 reported on 5 Jul 2019 that a member who paid ₹17,490 for a 10-month membership complained to police that daily sessions were often unavailable, and that a case under IPC sections 420 and 406 was registered naming Cult's brand ambassador and three officials. Cult called the complaint false and said it was cooperating. No outcome was found.
Source: Inc42
Show 4 moreShow fewer
- In the news· Jul 2026
IPO draft filed in July 2026
Entrackr reported that Cult.fit filed its draft red herring prospectus with SEBI on 7 Jul 2026 for a fresh issue of up to ₹950 Cr and an offer for sale of up to 17.86 Cr shares, with Axis Capital, Goldman Sachs (India), Jefferies India and JM Financial as lead managers.
Source: Entrackr - Legal / regulatory· Jul 2026
Other disclosed proceedings involve subsidiaries and directors
The IPO draft discloses, among others, a ₹36.7 Cr income-tax proceeding involving co-founder Mukesh Bansal personally, a FEMA show-cause matter involving a nominee director from his earlier role at another company, EPF damages orders under appeal at two subsidiaries, a customs inquiry at Cultgear, and customer-injury or discrimination FIRs at subsidiary gyms. Outlook Business totalled about ₹55 Cr pending against subsidiaries and about ₹488 Cr against directors. The company also has an RBI compounding application (Oct 2025) pending over late downstream-investment reporting. The only matter involving a franchisee is F2's petition against a former Gold's Gym sub-franchisee, listed in the case records.
Source: Draft red herring prospectus; Outlook Business - Customer view· Oct 2026★ 4.64/5 · 1,43,052 ratings
Google Play rating of the Cult.fit app: 4.64 from about 143,000 ratings
This rates the app, not the gyms or the franchise. Google Play showed 4.64 out of 5 from 143,052 ratings on 12 Oct 2026.
Source: Google Play - Customer view· Oct 2026★ 4.8/5 · 1,37,816 ratings
App Store rating of the Cult.fit app: 4.8 from about 138,000 ratings
This rates the app, not the gyms or the franchise. The App Store listing showed 4.8 out of 5 from 137,816 ratings on 12 Oct 2026.
Source: Apple App Store
Key Terms at cult.fit
The clauses that shape day-to-day running and your exit — read these before the fee.
- Payments to the brand
- Own-brand franchisees typically pay a one-time, non-refundable initial fee and ongoing monthly royalties or commercial fees, which may be fixed or revenue-linked (draft prospectus, Jul 2026). Amounts are not published.
- Other terms
- Cult says the gym is 'managed by cult's systems' and that prior fitness experience is not needed; it reports operating 66.09% of franchise-owned centres itself at 31 Mar 2026.
- Supply & stock
- Cult's 'gym-in-a-box' package includes location identification, layout design, placing equipment orders and installation; partners may also appoint Cult-trained staff.
- Territory
- Cult says centre placement is planned to maximise demand and minimise overlap in the network; no exclusive territory is promised.
- Other terms
- Cult says revenue starts before the gym opens through pre-sales, which it says shortens break-even time.
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
Franchisee-Owned, Company-Operated
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
NoExit Clause
—Who Can Apply for cult.fit
Conditions the brand sets for partners, and the licences the business needs.
- Fitness-industry experience: Not required, per CultPreferred
- Investment bands Cult offers prospective partners: ₹1.8–2.5 Cr, ₹2.5–3 Cr, ₹3–5 Cr or ₹5 Cr+Preferred
- Cities Cult lists for franchise enquiries: Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, Pune, Jaipur, Lucknow, Nagpur, ChandigarhPreferred
Licences & registrations
| Licence | Issued by | Who gets it |
|---|---|---|
| Municipal health trade licenceA June 2026 Delhi civic notice to a Cult-operated gym alleged operating without one; who obtains it for franchise centres is not published. | Municipal Corporation (e.g. Delhi) | You |
| Building completion and occupancy certificatesThe prospectus says approvals for franchise-owned centres are contractually the franchise partner's or the premises owner's responsibility. | Local authority | You |
About the Brand
Brand USP
Franchise-owned, Cult-operated 'gym-in-a-box': the partner funds the centre and Cult says it runs it, per its franchise page and prospectus.
Why invest in cult.fit?
cult.fit by the Numbers
Source marked on each figure708 at 31 Mar 2026
Fitness centres in 77 cities · 31 Mar 2026
Company filing1.43; 26.23% of partners have more than one centre
Average centres per franchise partner · 31 Mar 2026
Company filing59%
New on-app centres in FY26 that were franchise-owned · FY26
Company filing66.09% (39.78% at 31 Mar 2024)
Franchise-owned centres operated by Cult · 31 Mar 2026
Company filing42.17%
Matured franchise-owned centres with at least 20% centre profit · 31 Mar 2026
Company filing987,020; 50.88% renewal rate in FY26
Paid CultPass members · 31 Mar 2026
Company filing90.44% (Delhi-NCR, Mumbai, Bengaluru, Hyderabad)
Revenue from four metros in fitness services · FY26
Independent700+ gyms, 60+ cities (the same page also says 580+ gyms in 50+ cities)
Gyms and cities stated on its franchise page · Oct 2026
Brand claim13.19% in FY26, 14.67% in FY25 (company-defined)
Same-centre sales growth (centres open 24+ months) · FY26
Company filingcult.fit Outlet Network
By format · 31 Mar 2026
- Franchise-owned centres (174 Cult-branded on-app plus 114 off-app, which the filing describes as Gold's Gym-branded)288
- Company-owned centres218
- Marketplace gyms owned by independent operators (five cities)202
Outlet count over time
- 31 Mar 2024588
All centres, 31 Mar 2024 · bseindia.com
- 31 Mar 2025690
All centres, 31 Mar 2025 · bseindia.com
- 31 Mar 2026708
All centres, 31 Mar 2026 · bseindia.com
- 31 Mar 202493
Cult-branded franchise-owned (on-app), 31 Mar 2024 · bseindia.com
- 31 Mar 2025125
Cult-branded franchise-owned (on-app), 31 Mar 2025 · bseindia.com
- 31 Mar 2026174
Cult-branded franchise-owned (on-app), 31 Mar 2026 · bseindia.com
- 31 Mar 2024198
Company-owned on-app, 31 Mar 2024 · bseindia.com
- 31 Mar 2025226
Company-owned on-app, 31 Mar 2025 · bseindia.com
- 31 Mar 2026218
Company-owned on-app, 31 Mar 2026 · bseindia.com
Cities with Outlets
Show all 13 citiesHide the city list
Company Financials
Parent / group levelThese figures are for the parent company as a whole group, not this brand alone — separate from what a single franchise outlet earns.
Revenue (FY26)
₹1720.61 Cr
Net loss (FY26)
₹251.86 Cr
Total funding raised
$717.0M+
Valuation (Mar 2026)
$1.50B
Employees (31 Mar 2026 (2,000 permanent and 4,331 contractual personnel, per the prospectus))
6,331
Notable investors
Source: Restated consolidated financial information in Cult.Fit Limited's draft red herring prospectus (6 Jul 2026), group of Cult.Fit Limited and subsidiaries
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What cult.fit's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 30 Sep 2025
- Pending cases against it
- 0
- Pending cases it filed
- 0
- Paid-up capital
- ₹1803.22 Cr
- Auditor
- B S R & Co. LLP
- Brand trademark
- The Jul 2026 prospectus lists 12 registered trademarks in the company's name and 58 in its material subsidiaries' names, with 2 and 34 applications pending; the IP India register was not searched directly
Group companies
- Cultfit Healthcare Private LimitedSubsidiary · 83.58%
- F2 Fun and Fitness (India) Private LimitedSubsidiary · 100%
- Cultsport Private LimitedSubsidiary · 100%
- Cultgear Private LimitedSubsidiary · 100%
- Fitness First India Private LimitedSubsidiary · 100%
- Jogo Technologies Private LimitedSubsidiary · 100%
- Temasek (via MacRitchie Investments Pte. Ltd.)shareholder
- Tata Digitalshareholder
Source: MCA records via Tracxn (registrar status, compliance, AGM, paid-up capital as of 2 Jun 2026, 12 active charges, no pending cases on Tracxn); the prospectus lists one pending regulatory notice against the company and others against subsidiaries and directors (checked Oct 2026)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
cult.fit Financials Over Time
Figures for the whole group, from filed or reported accounts.
Source: Draft red herring prospectus, Jul 2026 · Draft red herring prospectus, Jul 2026; Entrackr
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- CULT.FIT LIMITED (formerly Cult.Fit Private Limited and CureFit Healthcare Private Limited)
- Company type
- Public Limited Company (unlisted; IPO draft filed Jul 2026)
- CIN
- U74999TN2016PLC176669
- Incorporated
- 24 May 2016
- Headquarters
- Bengaluru, Karnataka
Leadership
- MMukesh BansalCo-founder, Managing Director and Executive Chairman
- NNaresh KrishnaswamyWhole-time Director and Chief Executive Officer
- AAnkit NagoriCo-founder
- BBishnu Prakash HazariChief Financial Officer
Social presence
Company details source: MCA records via Tracxn; draft red herring prospectus (Jul 2026)
cult.fit Timeline
May 2016
Company incorporated as Cure Fit Healthcare
Later renamed CureFit Healthcare, Cult.Fit Private Limited (Apr 2026) and Cult.Fit Limited (Jun 2026).
SourceJan 2022
Acquired the Gold's Gym India master franchisee
Cult bought 60% of F2 Fun and Fitness (India) on 12 Jan 2022 and the remaining 40% on 10 Oct 2023, per the Jul 2026 prospectus. F2 holds the Gold's Gym master franchise, which the filing dates to 2015.
SourceJan 2024
About 150 employees laid off
The company called it streamlining of redundant positions.
SourceMar 2026
Series G of US$47.6 million
Entrackr reported the round valued Cult at about ₹12,600 Cr (US$1.5 billion).
Source7 Jul 2026
IPO draft filed with SEBI
Fresh issue of up to ₹950 Cr plus an offer for sale of up to 17.86 Cr shares; no listing date set.
Source
FranchiseChuno Analysis
Our analysis of verified dataHow cult.fit looks once the numbers are checked side by side.
- •Investment in line with the Fitness, Sports & Entertainment medianMidpoint ₹240 L vs a category median of ₹220 L across brands on FranchiseChuno.
- !The franchisor company is loss-makingIts latest filed accounts show a net loss. Franchisors that lose money can cut support or change terms — ask how franchise operations are funded.
- ✓Brand operating for 10 yearsFounded in 2016. The brand doesn't state when franchising began.
- !6 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.
Data completeness
64%
- ✓ Terms checked against the brand's own page
- ✓ Published investment (not an estimate)
- ○ Franchise fee
- ○ Royalty
- ○ ROI or payback claim
- ○ Agreement term
- ✓ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what cult.fit does and doesn't publish.
- 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- 2Ask for the one-time franchise fee in writing, and whether any part is refundable.
- 3Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
- 4Ask for the agreement term, renewal fee and exit or transfer terms.
- 5Ask whether you get an exclusive territory, and how large it is.
- 6Ask how the franchisor funds training and support while it's loss-making.
- 7Ask the brand to respond to each red flag listed under Reputation & News.
- 8Have a lawyer review the franchise agreement before paying anything.
- 9Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
—
Staff Needed
—
Setup Time
—
Owner Involvement
Semi-absentee
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Training Cost
Covered by franchisor
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
Training Programme
Ongoing Support
What cult.fit franchisees say
We haven't yet heard from enough cult.fit franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a cult.fit outlet — share how it wentFrequently Asked Questions
What is the total investment for a cult.fit franchise?
What return does cult.fit say a franchise makes?
What training does cult.fit provide?
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