We launched our first studio in 2005 and have had 11 consecutive years of growth in attendance, revenue and profit. How is that possible when we have a ’boutique’, pay-per class offering, and big health clubs nearby offer cycling classes or Spin® classes as part of their low-cost membership? A cycling studio, done well, is a classic “niche” business. The good ones create a unique, effective, entertaining fitness experience that health clubs don’t. They work for a few reasons:
1) Focussed Mission. A dedicated studio pays attention to the details and focuses on one thing: the best classes possible. Equipment, sound system, decor, amenities, teachers………are the best available.
2) Convenience. A studio is single purpose, “in and out”, simple, easy to reserve, easy to purchase, easy to participate.
3) Flexible payment / no membership commitment. In a studio, you can pay-per-class and when you don’t attend….you don’t pay. People are increasingly turning to “best of breed” fitness offerings from boutique studios and don’t want to be locked-in to long term memberships.
4) Customer experience. No waiting in lines, no getting “shut out”, no calling the night before to reserve. You can easily reserve online, show up 2 minutes before the class, and enjoy! The environment is comfortable, and the classes are not just a workout…they are an experience!
5) Community. A small intimate studio encourages sharing and interaction amongst students if they so desire. Instructors and students interact to optimize fitness, growth and enjoyment. Local charity fundraisers and other events are a key part of the studio vibe.
6) The little things matter. Quality sound, outstanding teachers, attention to detail, lighting, mirrors, equipment, announcing schedule changes and subs, personal touches, amenities
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