How is WTF Gym doing after Shark Tank India?

Founders: Vishal Nigam & Anita Nigam
Business: Gyms
Ask: ₹1 Crore for 2% Equity
Valuation/ Networth: ₹50 Crores
Funding: No Deal
Sharks: No Deal
Episode: Season 3 Episode 2

WTF Gym Shark Tank India Pitch:

WTF Gym is an Indian startup that featured on Shark Tank India Season 3 Episode 2. They collaborate with nearby gyms to enhance their hospitality, hygiene, ambience, trainers, and, most importantly, technology. The rebranded gyms receive a fresh identity, all offered at affordable prices. Subsequently, WTF Gym also maintains and operates these locations. Additionally, they have developed the WTF app, serving as a fitness guide.

The core of the app is their AI bot, Fitti, which monitors the end-to-end fitness journey of WTF users. At the time of the pitch, they had 43 gyms in NCR and Bangalore, with plans to expand to Kolkata. The founders envision having over 5000 gyms in the next 5 years, seeking an investment of ₹1 Crore for a 2% stake, valuing their business at ₹50 Crores.

WTF Gym Financials During Shark Tank India:

WTF Gyms is a profitable venture, allocating 50% to operating costs and generating a 35% profit margin. Their September 2023 revenue reached ₹65 Lakhs, following ₹56 Lakhs in July 2023 and ₹58 Lakhs a month later. Notably, revenue is currently sourced from 20 gyms, as their initial 20 locations served as pilots for their concept.

WTF Gym Shark Tank India Negotiations & Funding:

During the pitch, Deepinder Goyal criticized WTF Gyms for lacking attention to detail, pointing out errors in their phone number and screen displays. When asked if he works out at the gym, founder Vishal mentioned he hasn’t used gyms in the last 4 months, leading to Deepinder’s disappointment, and he opted out.

Aman expressed confusion about the founders’ presentation and decided to opt out. Namita lacked confidence in the founders and the presented numbers, leading to her decision to step out. Vineeta shared Namita’s sentiment, expressing a lack of trust in the entrepreneurs, and she also chose to opt out. Anupam reiterated his lack of trust in the business model and founders, resulting in his decision to opt out. Deepinder advised the founders to underpromise to investors and overdeliver for future success. Ultimately, WTF Gyms left the Tank without securing a deal.

Who are the founders of WTF Gym?

The founders of WTF Gyms are Vishal Nigam and Anita Nigam. Vishal, with a background in working for tech giants Google and Microsoft, earned his B-Tech in Electronics from Lovely Professional University.