Are group fitness businesses thriving?
Are specialty group fitness businesses (e.g. yoga, dance and indoor cycling studios) profitable? What are the keys to success? Is an additional service/amenity required to be a successful business? What are you thoughts on a group fitness studio that offers a combination of yoga and indoor cycling?
I believe indoor spinning is always a big attraction in any gym. One new trend is a spinning class offered by Flywheel (www.flywheel.com), where the participants are not only spinning but they are also competing against each other. I found this class very fun and motivating even though I 'm not a big fan of indoor cycling. As far as yoga and spinning I have never done that, but few years back I taught a class which was a combination of kettlebells, dancing and yoga. I was the instructor for the kettlebell part of the class where a different instructor was teaching the dancing and yoga. It was a great success.
I do believe every time you do a fusion class you will get a great response.
Yes, indoor cycling with yoga, combining together, are thriving.The article written by Michelle Stacey in magazine "More", from September, 2012, had introduced us with this unique combination studio in Manhattan:
"Spinning a business out of nothing
When Julie Rice could't find a place to exercise, she and a friend opened their own studio.Then SoulCycle took off"
What are the keys to success? - It is the use of pulsating music to help invigorate riders, location - a move-in-ready spot on West 72nd Street and the use of very interesting form of advertisement /Rice had bought a rickshaw,spray-painted yellow and put it in front of the building, poiting the way to the studio/.
Is an additional service/amenity required? - Yes, it is hiring a towel service/"...one of our biggest expenditures",says Rice."It costs between 40 and 60 cents per towel per use".
What my thoughts on a group fitness studio that offers a combination of yoga and indoor cycling? - It is now a biggest trend!
With regards, Miroslava.
If you are educated, and certified with a Nationally Accredited Certification, you won't have to follow trends.
Take a moment to Google 2013 Worldwide Survey of Fitness Trends so that you can get some direction.
It'd be different from gym to gym based on your location too. I'd say my gym doesn't have much wriggle room for classes, but that's because we don't have space to put people together. Larger gyms may be able to accommodate this better though.
The studios that do well seem to have a clearly defined niche and a good marketing plan. A small studio trying to do a little of everything is competing with much larger gyms and that's pretty hard to do. A small studio offering a customized or premium service has a better chance of success, from what I've seen in my area.