Indoor cycling brand CycleBar, Cincinnati, announced that it is has signed more than 200 studios in 10 months in its inaugural year of franchise sales.
The company said it is on pace to reach its larger goal of having 100 studios open to riders by the end of 2016, a goal it announced in July 2015. CycleBar is preparing to break into more than 50 new markets in 2016 with a focus on helping new partners become engrained in their communities to engage local residents with the brand, according to a Feb. 2 media release from the company.
"One of the main reasons CycleBar is attracting a high number of quality franchisees is our ability to create an unparalleled energy that extends well beyond a workout class," CycleBar President Heather Harris said in a statement. "Whether someone signs up for a CycleBar Classic ride in our studio or joins us for a pop-up ride at a local brewery, the experience offers a sense of community in which riders truly feel they are part of something special."
CycleBar currently has four studios open to riders in Cincinnati; Royal Oak, Michigan; Wellesley, Massachusetts; and its newest location in Carmel, Indiana. CycleBar will target new development in Atlanta, Chicago, Dallas, Houston, Los Angeles, New York City and Philadelphia through single and multi-unit agreements in 2016, according to the media release. Executives are seeking to partner with community-minded franchisees who possess a passion for the fitness industry.
"We are working with franchisees throughout our system to do more than just help people stay in shape," Harris said. "We are planning large-scale outdoor rides, partnering with charitable organizations for unique philanthropic events and creating opportunities for CycleBar to be integrated into its community's events. Each franchisee also has an opportunity to undergo our comprehensive training programs to ensure the company grows with flawless execution in the years ahead."
CycleBar was founded in 2004 by Bill Pryor and his sister, Alex Klemmer. The company bills itself as the first and only premier indoor cycling franchise. The CycleBar workout features music, video graphics and rider-specific performance data. The classes are held in a theater that holds up to 55 bikes. CycleBar operates a pay-per-class model with options to pay for one session or up to 100 sessions. At the Wellesley location, one class is $20, five classes are $92 and 50 classes are $719.