The demand for quality indoor cycling studios is strong and growing and the business model has been proven in a variety of urban, suburban and small town markets around North America. If you want “in” on this business, one of the options is a cycling studio franchise. (note: for trademark reasons this cannot be called a Spin® studio franchise*.)
There are a number of reasons to consider franchising, but probably the most powerful is a simple one: To reduce the risk of starting your business. Any startup business carries inherent risk, and as an entrepreneur, the goal is to minimize as much risk as possible. Franchising leverages an existing proven model, and existing operating procedures, thus reducing the risk by deploying known factors.
There are of course other reasons to consider franchising: Branding expertise, operations support, training, marketing assistance, real estate assistance and more. I’ve read a number of articles on franchising, one of the most thoughtful and thorough is called Why choose Franchising? by Eddy Goldberg. Here is one excerpt:
….let’s apply common sense: Comparing the payment of: (1) an up-front fee to buy into the support, reputation, and track record of a franchise system with (2) the research, development, and startup costs involved in creating your own, independent business, the odds of survival clearly favor franchisees…..
This article goes on to discuss a number of key issues including financing, site selection, branding, marketing peer networking, territories and more. For the new business owner, getting support in each of these areas, is what contributes to the risk-reduction referenced above.
*Note: For trademark reasons there is no such thing as a Spin® studio franchise. CycleBar is the first and only indoor cycling studio franchise. To read more on this trademark issue Click Here.
Spynergy Consulting has operated cycling studios for 9 years and has worked closely with over 80 individual cycling studio startup projects. We have recently formed a new company called CycleBar: the first indoor cycling studio franchise. CycleBar will provide a turnkey cycling studio solution from top to bottom.;;
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Click Here to fill out our candidate questionnaire and you will receive a call where you will learn full details on startup costs, franchise fees, financial history of existing studios, operations, branding, marketing and more.
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