By guest columnist Bill Pryor, owner of Spynergy Cycling Studios, and Spynergy
Consulting.
Stay tuned for my interview with Bill posting next week.
You’re passionate about fitness, you love indoor cycling and you may even be an outstanding instructor yourself. You recognize the amazing energy in a great class, and you’ve also seen a lot of poor or mediocre classes that frustrate you. Maybe you’ve wondered if a dedicated studio can make money?
Should you start your own studio? Great questions.
While not nearly as common as yoga studios, there are in fact a good many successful, dedicated cycling studios (and Spin® studios) around the country. We have worked extensively with a number of them, and in the right community, with the right model, these can be tremendous small businesses. There
is nothing more thrilling than waking every day knowing your decisions and actions are building a business, developing a community, making people healthy…….and generating a stream of profits!
Here is the first question we ALWAYS get asked. There is plenty of indoor cycling and Spinning® at gyms and health clubs in my area – why would people go to a new dedicated
studio?
4 reasons cycling studios are successful!
- Dedication.For the same reason there are thousands of successful Yoga studios, despite ample yoga classes at gyms and health clubs — a dedicated studio focuses
on one thing. It pays attention to the details and delivers a more consistently excellent product. - Atmosphere.
Many people, for a variety of reasons, prefer a small intimate studio
to the feeling of a big gym or health club. As evidence, look at the vast number of Yoga, Pilates and personal training studios — despite the availability of those services at gyms. - Pricing flexibility.
Studios typically offer a variety of programs including “unlimited classes” or “pay-per-visit”. This variety and flexibility appeals to a broad range of potential clients. - Community.
There is a community spirit in a small studio attended by dedicated cyclists with a common passion.
The notion of a successful, dedicated cycling studio is not just a concept — it is a reality in dozens of instances around the country. That being said, the number is miniscule
compared to the opportunity, and there is very likely a need near you.
We’ve launched our own successful studios and worked with cycling studio owners all around the country. If you’re seriously considering opening an Indoor Cycling studio, we are happy to
help you brainstorm through the business planning and development.
For more information, take a peek at www.spynergyconsulting.com or email me at billpryor@comcast.net
Hi Bill,
I must admit I’ve entertained this thought too many times…even talked to owners of small local ‘gyms’ or studios! It’s a wonderful thought but the overhead and costs scare me away even before I could think about it more. It’s nice that you offer this service.
Mr. WilsonCycles
What we do is take the mystery out of the overhead and cost side….by quantifying it specifically (based on our ongoing studios’ history). It’s actually a low overhead business. The key is getting classes filled.
I too have been toying with the idea but fear that I won’t be able to make it as a standalone without the draw of other amenities like what a gym would offer. I do however like the idea that it is ‘specialized’. I’m just afraid to take the plunge.
We have just opened a stand alone indoor cycling studio in the UK, one of only 3 that we know of! Business was a little slow at first but we have been going 6 months now and are putting on extra classes practically every week due to demand. We have a personal training gym atached but it’s not open to the public, we use it for personal training clients in between classes. We are using Wattbikes so hitting a wider market than traditional spin classes.We are loving it and our clients are too!
Great news Suzanne! If you would like a little promotion please send me a few pictures of you in your club for me to post and any links to information you are offering.
So my business partner and I just opened up Montana’s first indoor cycling studio 5 months ago. Things started slow for us as well, but this month has been our biggest so far. We are young for the business world, but we have a passion that won’t die. We LOVE our members and would not have passed up this amazing opportunity. I would love some pointers on how we can better an already amazing thing? Anything would help!!
I’m also thinking of opening a spin studio but have no idea where to start. Salina, how long did the planning process take you before opening the doors?
Saline and Sky,
If there’s any way you can get to the ICI/PRO conference in October in Boston, you will learn TONS and be able to meet many more studio owners to pick their brains. We will have a round table session on opening your own studio, as well as a session on using social media to promote yourself – semething all studios should be doing!
Saline – WOW! Montana’s FIRST? You mean an independent studio, right? Spinning only? What town are you in?
I have been thinking of opening a spinning studio for over 10 years. I did a business plan 10 years ago while doing my MBA . I lived in Miami back then but now live in Atlanta. Wondering if anyone knows If this is a good market…
I am in the process of building a studio to accommodate Computrainers and Spin bikes and offering Yoga upstairs along with Sports massage ( im a therapist as well as semi pro racing a few years ago)I have just got my level 3 coaching license and now contemplating doing a certified Spin Coaching course if i can find one in Houston Texas.
I am taking the risk but I feel good about it.
Steve
Hi Steve,
you might contact Cycling Fusion. http://www.cyclingfusion.com Both Tom and Gene (of Cycling Fusion) have been on several of our podcasts, and Tom especially has contributed some amazing cycling-specific audio PROfiles.
Since you are an avid road cyclist, I think you will appreciate their approach to indoor cycling training. The certification is very in depth, more so than Spinning. Spinning is good for the basics, but if you plan on having computrainers at your facility, you’re already beyond the basics! How many bikes will you have?
Check out http://www.spynergyconsulting.com for answers to lots of common questions about the issues related to launching a studio!