July 01, 2015 // Franchising.com // CINCINNATI - Just six months after introducing the company’s first franchise opportunities, CycleBar, the first and only premier indoor cycling franchise, is announcing its incredible growth momentum with deals inked for more than 100 studios in markets across the country. The strong franchise development is part of the company’s overarching goal to have 100 studios open to riders by Dec. 31, 2016.
Spearheading the fast-growing franchise is newly hired company president, Heather Harris. Harris most recently held the role of General Manager and Vice President at Donna Karan Intimates, where she drove strategic direction and execution of a multi-million dollar company turnaround. Originally from Cincinnati, Harris is passionate about fitness and is eager to utilize her high-level global branding experience in the franchise industry.
“I am fortunate to be joining a brand that is on the brink of making a significant impact in the boutique fitness segment. With studios already sold in more 30 markets, I will be placing a major emphasis on making sure the franchise grows the right way with flawless execution,” said Harris.
The Cincinnati-based luxury boutique fitness franchise offers 33 unique touch points for a multisensory experience for each rider, including professionally engineered light and sound systems, energy-enhancing video graphics and rider-specific performance data in a state-of-the-art CycleTheatre®. The concierge-level service and exhilarating experience goes far beyond a great cardio fitness workout and is all-inclusive to maintain a luxurious experience for every customer in a pay-per-class model.
Founded in 2004 by Bill Pryor and his sister Alex Klemmer, CycleBar remains committed to the three original ingredients for a successful indoor cycling experience: great instructors, great music and a great environment. Pryor, a former corporate executive, and Klemmer, a stay-at-home mom, opened their first studio in 2005 and have remained dedicated to perfecting the high-energy cycling concept ever since. Now, ten years later, the brother and sister entrepreneurial team have partnered with like-minded fitness enthusiasts to allow others to benefit from the CycleBar experience.
“As the only luxury boutique fitness franchise available, CycleBar has the first-to-market advantage – but we know we won’t be the only ones for long. As we grow, we will continue to fulfill our founders’ vision by consistently offering an unparalleled, fitness experience,” added Harris. “We look forward to expanding through partnering with the right type of franchise owners and offering our unique business model with maximum unit-level economics.”
Since the franchise operates on a pay-per-class model, CycleBar has eliminated many of the common overhead costs often associated with a gym franchise, including hiring a membership sales team, tracking monthly membership dues and limiting studio hours to scheduled class times only. Currently with three successful locations, CycleBar boasts an EBITDA margin at more than 60 percent.
CycleBar is seeking qualified, community-minded franchisees with a passion for the fitness industry to continue its growth through single and multi-unit franchise deals in New York City, Los Angeles, Dallas, Houston, Philadelphia, Chicago, Atlanta and a number of additional markets across the country. For franchise prospects who are committed to purchasing multiple studios, CycleBar offers a reduction in the franchising fee for each location.
CycleBar is the first and only premier indoor cycling franchise. Founded in 2004 by Bill Pryor and Alex Klemmer, the Cincinnati-based fitness franchise offers each rider 33 unique touch points for a multisensory experience, including amazing music, energy-enhancing video graphics and rider-specific performance data in a state-of-the-art CycleTheatre®. As the only luxury boutique fitness franchise available to date, CycleBar offers attractive opportunities in a fast-growing company with high EBITDA margins and strong consumer demand. For more information about the franchise opportunity, please visit www.cyclebarfranchise.com.
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