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?
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.