Investors have stepped on the pedals – Newspaper Kommersant No. 41 (7486) of 03/13/2023

The small-format fitness studio format began to attract outside investors. According to Kommersant’s information, the director of the Garage museum founded by Roman Abramovich, Anton Belov, received 17% in the network of Rock the Cycle cycling studios. The deal may be part of the financing of the project by Mr. Abramovich. Market participants consider the format promising, but difficult to make a profit.

Anton Belov, director of the Garage museum founded by Roman Abramovich and Daria Zhukova, became the owner of 17% of Rock Cycle LLC, which develops the Rock the Cycle fitness studio network. Changes to the Unified State Register of Legal Entities were made on March 2. The remaining 83% is owned by the founder and CEO of the company, Oleg Rudakov. According to the Unified State Register of Legal Entities, shares in Rock Cycle are pledged to Mr. Abramovich. Edition Inc. citing a source close to the asset manager of the Millhouse businessman, it was previously reported that Roman Abramovich was the creditor of the project.

Kommersant’s interlocutor in financial circles notes that Anton Belov has been heading Garage for many years and can participate in Rock Cycle “as a confidant of Roman Abramovich.” Maria Lyubimova, head of the legal support practice for foreign trade activities of the Regionservis Bar Association, clarifies that participation in the capital, in particular, allows you to block corporate decisions and can be a way to arrange a return on investment through share resale transactions, for example, through an option.

Kommersant’s interlocutor in the fitness market believes that Rock Cycle may also be Anton Belov’s personal investment. According to SPARK-Interfax, now he owns shares in several projects. Among them are the manufacturer of breakfast mixes and bars “Granola.Lab”, the seller of computer accessories “Gickboards”, the space with the store and gallery “Photodepartment”. Representatives of Millhouse, the Garage museum and Oleg Rudakov did not provide comments. Anton Belov did not answer “Kommersant” on social networks.

The president of the National Fitness Community (NFS), Elena Silina, notes that while cycle studios occupy a small market share, the format has prospects due to the high efficiency of training. According to her, such projects can be located in small premises, including in office and shopping centers. The costs here strongly depend on the class of equipment: one simulator can cost from 30,000 to 550,000 rubles, Ms. Silina explains – this equipment is not as high-tech as treadmills, but its cost is also affected by logistics complicated due to sanctions.

Alex Fitness Holding President Alexei Kovalev considers cycle studios an interesting format, but difficult from a business point of view. According to him, such facilities usually require large investments and bring less profit than a classic fitness center. Each workout in the studio is an expense, as a rule, for a fairly well-known coach, and the sale of additional services on which clubs can earn money is not provided here, Mr. Kovalev explains.

According to NSF forecasts, about 400 fitness clubs, mostly small gyms and studios, may open in Russia this year. The founder of the Velobeat network, Asya Shpilman, says that after the announcement of partial mobilization in the fall of 2022, the load decreased noticeably, but since the beginning of 2023, the business began to show good results. Velobeat, she notes, is already franchising in St. Petersburg and plans to expand into new regions through partners. Although Franshiza.ru expert Anna Rozhdestvenskaya does not see much potential for demand for the cycle-studio format in the regions.

Anatoly Kostyrev, Alexandra Mertsalova