CycleBar Signs More Than 200 Units within First Year of Franchising
Premiere indoor cycling franchise celebrates milestone, looks ahead to opening 100 new studios in 2016.
February 04, 2016 // Franchising.com // CINCINNATI – CycleBar, the first and only premier indoor cycling franchise, is celebrating an incredible inaugural year of franchise sales after signing more than 200 studios in 10 months. The strong franchise development momentum will bring CycleBar’s state-of-the-art studios and energetic community engagement to neighborhoods across the country. The company is on pace to reach its overarching goal of having 100 studios open to riders by Dec. 31, 2016.
As CycleBar prepares to break into more than 50 new U.S. markets in 2016, executives with the company are placing their main focus on helping new partners become engrained in their community to engage local residents with CycleBar’s intoxicating experience both inside and outside of the studio.
“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. 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,” said President of CycleBar, Heather Harris.
CycleBar currently has four studios open to riders in Cincinnati, Royal Oak, Michigan, Wellesley, Massachusetts, and its newest location in Carmel, Indiana. In the year ahead, the luxury boutique fitness franchise will strategically target new development in Atlanta, Chicago, Dallas, Houston, Los Angeles, New York City and Philadelphia through single and multi-unit agreements. Executives are seeking to partner with community-minded franchisees who possess a passion for the fitness industry. Qualified candidates come from diverse professional backgrounds, including current franchise owners, C-level executives, lawyers, doctors and athletes.
“The fueling energy of CycleBar isn’t just for our riders. Many of our new owners are leaving type-A jobs and joining CycleBar to find a more fulfilling life. We are working with franchisees throughout our system to do more than just help people stay in shape. 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,” added Harris. “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 has built a reputation in each of its communities of creating exciting and energetic ways to raise money for organizations that resonate with its riders. Organizations can team up with CycleBar locations to plan CycleGiving™ rides in which charitable organizations receive all proceeds from the riders who register for a designated ride, and promote health and wellness along the way. These rides can generate as much as $10,000 in an hour towards their cause of choice.
CycleBar is the preeminent indoor cycling franchise, offering concierge-level service and premium amenities. The fueling energy of the CycleBar experience extends into each community in which it is located with intoxicating rides that promise to calm minds, elevate moods and revive senses. 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. CycleBar is on pace to have 100 studios open to riders in 2016 with over 200 total locations in development. For more information about the franchise opportunity, please visit www.cyclebarfranchise.com.
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