The Quorum, a work and social lifestyle club, has announced its pan-India expansion plans after starting its third club in Hyderabad.
The club, which started its operations in 2018 currently runs two clubs in Gurgaon and Mumbai, and will be launching its third club at the Knowledge City in the IT hub of Madhapur in the next 5-6 months.
“We are setting up the 70,000-sq ft space with an investment of ₹35 crore. We have invested ₹70 crore on the first two clubs,” Vivek Narain, Founder and Chief Executive Officer of The Quorum, said.
“After these three locations, we are planning to expand to Bengaluru, Delhi and Goa in the next two-three years,” he said.
Addressing a virtual press conference on Wednesday, he said about 60 per cent of the outlay for the Hyderabad club was generated from internal accruals.
The club charges a one-time fee of ₹3 lakh and an annual fee of ₹1 lakh from members. “We have different packages, depending on the needs,” he said.
The company will also offer a co-working space with 110 seats. “We will offer the space at a premium for venture capital firms, private equity players, finance and consulting firms,” he said.
“We are not looking at enterprise clients because we don’t want to compete with other co-working spaces,” he said.
The club offers food and beverage, culture, art and wellness. The membership gives the members access to over 60 such clubs in 28 countries, he said.