(post is excerpted from complete version at SpynergyConsulting.com)
Two high-profile New York studios: Soul Cycle and Flywheel have recently received national press. Soul Cycle was recently acquired by national chain Equinox, and Flywheel has partnered with investors who have announced aggressive expansion plans
1) It validates the concept of a stand-alone cycling studio.
2) Their presence grows the market. The more people that hear about these, the better
3) Competition really IS good. It makes everyone examine their business to improve.
The reality is there are thousands of communities in the US (and abroad) that could support cycling studios…..and the more that open, the more the tide rises for the rest of us.
There is plenty of room in the market for Soul Cycle, Flywheel Sports, and also for talented entrepreneurs to build compelling cycling studios. There are a few hundred cycling studios around the world right now, let’s not worry about market saturation until there are 10,000 (like there are in yoga).