Gymnasion targets bourse in bid to beef up its muscle in fitness club market

"The money would be spent on developing the network of clubs. We intend to have 30-40 outlets by 2008," said Stefan Tatarek, head of the Gymnasion's supervisory board. Currently, Gymnasion owns six clubs, with the average cost of opening each new outlet of 1,000 square meters put at zł.3 million. "Current investments are financed from our own capital, loans and leasing," added Jacek Wszoła, one of the chain's owners, adding that the firm's profitability could reach as much as 30% once all investments have been concluded. The chain is also considering franchising as one way of network expansion. (Puls Biznesu, pp. 1 8) M.M.