Are you a fitness freak, looking for a renowned and profitable franchise from the fitness Industry? Do you love cycling and wanted to create an opportunity out of it by partnering with a leading chain? Are you a cycling enthusiast and would like to channel your passion into a successful business?
If you have answered “yes,” to any of the queries, then you should be interested in understanding more about the CycleBar chain that has created significant impact on every fitness-aspirants across the globe.
In this blog, we’ll cover a detailed article on the CycleBar Franchise including the capital required, cost, profit, and step-by-step guidelines to get this franchise, and answer some common questions about the chain.
- Brand: CycleBar
- Founded: 2004
- Key People: Bill & Alex
- Industry: Health & Fitness
- No. of outlet: 280+
- Area served: Global
- Model: Franchise
- Franchise Fee: $60,000
- Royalty Fee: 7%
- Ad Royalty Fee: 2%
- Initial Investment: $351,475 – $501,875
Table of Contents
Overview of CycleBar Franchise
Established in 2004 by Bill Pryor and his sister Alex Klemmer in Boston, Massachusetts, Cyclebar is one of America’s leading and largest indoor cycling brands, specializing in offering a wide array of low-impact, high-intensity indoor cycling workouts.
Started with a passion for fitness and a vision to create an engaging and inspiring workout environment, Cyclebar has emerged as a prominent player in the rapidly growing fitness industry.
Currently, the chain has more than 280+ studios available across the globe that also offer an immersive, multi-sensory, community-focused experience in state-of-the-art “CycleTheaters,” led by specially trained instructors, enhanced with pumping “CycleBeats” playlists, and tracked using rider-specific “CycleStat” performance metrics.
The chain has been ranked on several popular Magazines, such as Entreprenuer, Inc. Magazine and many more. Cyclebar is also a part of renowned and one of the best fitness and wellness brands – Xponential Fitness.
With more than a decade of experience, a combination of high-energy workouts, and the adaptation of leading technology, The CycleBar has gained a huge and loyal fan base of fitness enthusiasts across the United States. It’s parent brand, Xponential Fitness, also includes Yoga Six.
Does this little snippet on Cyclebar excite you to become their partner? Hold on, we have a lot more to cover about Cyclebar and its industry growth, which may help you in finding the BEST AVAILABLE FITNESS FRANCHISE.
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CycleBar Franchise Opportunity – The Journey
Their humble beginning started with a mission to offer best-in-class cycling experience with a complete engaging and inspiring workout environment.
Currently, the chain has over 280+ stores across the globe and being a part of renowned fitness brand, Xponential Fitness has helped the CycleBar to garner enormous fan following throughout the state.
In 2016, they also holds a record of signing more than 200 studios in 10 months in its inaugural year of franchise sales.
Key facts of CycleBar
| Sr No. | Type | Private |
|---|---|---|
| 1 | Trade Name | CycleBar |
| 2 | Industry | Health and Fitness, Cycling |
| 3 | Founded | 2004 |
| 4 | Founders | Bill Pryor & Alex Klemmer |
| 5 | Headquarters | Irvine, CA |
| 6 | Number of locations | Over 280+ |
| 7 | Area served | Across the globe |
| 8 | Owned By | Xponential Fitness |
| 9 | Classes | Instructors, Cyclebeats, and many more |
| 10 | Revenue | Unknown |
| 11 | Website | http://www.cyclebar.com/ |
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How much does a CycleBar Franchise Cost?
The cost for owning a CycleBar studio may vary depending on the several factors, including outlet’s geographical location, available floor area, and number of chosen franchises.
To start a CycleBar franchise, one would at least require an initial investment of $351,475 – $501,875, and a dedicated floor area of min 2000 – 5000 square feet to set up a brick-and-mortar studio space.
How much is CycleBar Franchise Fee?
The franchise fee for a CycleBar is $60,000. It also offer an exciting opportunity for aspiring entrepreneurs to setup a multi-unit franchise at a discounted rate. Furthermore, Interested candidates should also meet the minimum financial requirement of at least Net Worth of $500,000 and at least $100,000 in liquid assets.
| Franchise Fee | Based on units |
|---|---|
| Single Unit | $60,000 |
| For 3-5 units | $45,000 |
| For 6-9 units | $40,000 |
| For more than 10 Units | $35,000 |
Additional Cost for CycleBar Franchise
Typically, to run and maintain a CycleBar location, one must adhere to their standards and are liable to pay a few additional costs such as Royalty fee, advertisement fee, maintenance fee, and a few other investments.
The on-going royalty fee for CycleBar studio is 7% of gross sales or $1000 per month, whichever is the higher. The franchise may also charge a minimum of $1,750 per month as a Ad royalty Fee and brand development fee as 2%.
| Type of Cost | Cost and its Details |
|---|---|
| Franchise Fee | $60,000 |
| Royalty Fee | 7% or $1000, whichever is higher |
| Ad Royalty Fee | $1750 |
| Net Worth | $500,000 |
| Required Liquid Capital` | $100,000 |
| Relocation Fee | $5000 |
| Technology Fee | $715 |
| Total Initial Investment | $351,475 – $501,875 |
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How much is CycleBar Franchise Profit Margin? | How much do CycleBar franchise owners make?
The profitability of a single CycleBar studio may depend on numerous factors, including the outlet’s visibility, service and customer experience, average customer footfall or registration at the outlet.
Nevertheless, considering its decade long experience, best-in-class customer experience, proper training support, booming fitness industry, affordable and flexible franchise setup, backing for renowned fitness brand, one may anticipate a stable and healthy gross and net profit margin with CycleBar unit.
According to the official sources, the chain was able to generate an impressive revenue of $336,000 per year and a 31% EBITDA margin. Hence, CycleBar is indeed a profitable franchise investment with a payback period of around 8 years.
Why Considering Owning a CycleBar Franchise?
There could be several possible reason to start a fitness franchise like CycleBar. Additionally, we have highlighted a few more prominent reason to become a part of this fitness franchise;
- Experience & Backing from renowned fitness brand:
- As a franchisee, you’ll be able to leverage brand’s decade long experience and backing from its parent chain – Xponential Fitness, which may help you to understand the franchise and business seamlessly.
- Nationwide presence:
- The chain is continuously expanding its studios to multiple locations and many of their single-unit franchises has transformed into a multi-unit studio holder.
- Awards and recognition:
- CycleBar has been awarded numerous times by popular franchise magazine Entrepreneur and it is also 3X larger than its largest competitior.
- Services and Tech-enabled growth:
- The chain has a team of professional trainers and by offering engaging and inspiring atmosphere, Cyclebar has established itself as a prominent player in the booming fitness industry.
- Technology and Training Support:
- As a franchisee, you will have access to brand’s technology that may enhance the workout experience, performance metrics, and much more.
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What does it requires to Own a CycleBar Studio?
To own a franchise, you might have to meet the certain requirements. However, we have enlisted a few major CycleBar franchise requirements for your reference;
- First and most important – One should be financially well-qualified and have good credit to start a CycleBar Studio, and should be ready to invest minimum $351,475 – $501,875.
- One should also have a minimum net worth of $500,000 with a liquid assets of $100,000 to become an approved CycleBar studio holder.
- Interested applicants are advised to dedicate themselves to the CycleBar business and follow the company standards and maintain their legacy.
- Interested applicants must undergo and complete the necessary training program offered by the CycleBar’s team.
- Applicant should be hard-working and dedicated to being heavily involved during the early stages of their new venture with CycleBar.
- Interested franchisees should have passion to work in the Health and Fitness industry and should possess the leadership and financial skills to operate a CycleBar Studio.
How to Apply for a CycleBar Franchise?
The CycleBar offers a flexible franchise options for an Individual and Entrepreneurs, and one can start with single unit to more than 10units at a time. The application process is quite easy and to become an approved CycleBar Unit holder, one may require to investment less than $500,000 for a single unit.
Additionally, the CycleBar unit chain may provide several benefits, and interested candidates can take up franchise outlets in their city through their expertise and endless support systems.
One can avail this franchise using below mentioned steps;
- Visit its official website and navigate to the franchising tab of CycleBar chain
- Fill in the details like Name, Email ID, Phone Number, City, State, Country, and other necessary information.
Final Takeaway – Conclusion
CycleBar is one of the leading and rapidly growing fitness brand, which is operated by Xponential Fitness group of companies. The chain was founded in 2004 by a Brother and Sister duo – Bill and Alex.
Within a quick span, CycleBar has grown into more than 280+ location across the globe.
With an Initial investment of US $351,475 – $501,875 and franchise fee of $60000, CycleBar offers a reasonable profit margin to its unitholders. The chain has been expanding its location to several states and is certainly generating an impressive revenue growth.
The Bottom Line – Overall, owning a CycleBar studio can be a lucrative and potentially rewarding investment. Having its well-established franchising model, extensive marketing and training support, and innovative & exemplary fitness range, CycleBar may prove to be beneficial opportunities for aspiring entrepreneurs.
So, what are you waiting for? Go and start your entrepreneurial journey with CycleBar!!
Good Luck!! Happy Franchising!!
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FAQ
How much does it cost to start a CycleBar Franchise?
A minimum investment required to setup a CycleBar studio may cost approximately $351,475 – $501,875, which includes a franchise fee of $60,000.
Is CycleBar Franchise Profitable?
CycleBar has been generating an impressive number since last few years and given its experience, service offering and affordable setup cost, one may anticipate a gross margin of 30%.
Is CycleBar Franchise a good Investment?
Considering the fitness industry growth prospects, quality offerings, affordable pricing, backing from renowned fitness brand, low startup cost, and stable revenue numbers provides edge over its other competitors.
The chain has been growing exceptionally well and if you are a fitness enthusiast, then do check with 4-5 CycleBar studio owner to understand the business in a better way.
