There are a number of features that make the cycling studio model attractive: it is highly automated, relatively easy to operate, it’s a fun product and it can be highly profitable when executed well. It is also a local business that has a unique ability to give back to the community.
A boutique indoor cycling studio is the most local kind of local business. Because your core client-riders attend classes 3-5 times per week, they are only like to do this if they live nearby. Long commutes for fitness are just not practical for most. Since they live nearby, they know each other and they come to know you and your business well.
As you begin to connect with your community, you will come to hear about dozens of organizations and charities that your clients are passionate about. You will now have a unique opportunity to help those clients by hosting fundraisers, community mixers, and charity events. Your studio will have empty studio time, and CycleBar has developed several, easy-to-manage event-planning systems that you can make the studio available to your community. These kinds of studio events do several important things.
- They provide needed funds to good causes important to your area
- They raise the profile and visibility of your CycleBar studio
- They bring new people into your studio to get the experience
Hosting community fundraising events is a true WIN-WIN-WIN. The charity wins because they raise money, the attendees win because they get the unique CycleBar fitness experience, and the studio wins because awareness and exposure is heightened. Note: the cost of running these events for you as a business owner is close to zero.
Yes this is a business that makes people fit. Yes, this is a business that is fun. Yes, this is a business that is highly automated, and Yes, can be is a highly profitable business. It is also a business that is uniquely positioned to help the community you are a part of.
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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