SOURCE: DEVELOPERS & CHAINS
With about 160 studios operating, Cyclebar is one of the largest networks of premium indoor spin cycle studios and the company has plans to reach over 200 studios this year. The studios feature a concierge-level service, premium amenities, high quality sound/video technology and riders’ ability to access detailed performance metrics. The first Canadian franchise opened a Cyclebar studio in Leaside in Toronto in March 2017 and the franchisee is now looking for a second location to open in 2019, also in the Toronto area. Jeri Brodie at Aurora (XO) Realty Consultants has been retained to handle the search in Toronto and adds that the target areas are downtown or west Toronto. Cyclebar will operate in the safe, densely populated neighbourhoods that offer a mix of residential and daytime traffic. Markets with mid-to-high average household income are preferred. The total space necessary is in the 2000 to 2500 square foot range. For the 1000 square feet of studio area, at least 25-foot width and about 14-feet of ceiling height is required and ideally with minimal or no columns. Basement or second level space, or a combination of ground and upper/lower levels are considered. Access to parking and public transit is necessary. Bill Pryor and sister Alex Klemmer launched the Cyclebar concept in 2004 in Wellesley, a Boston suburb in Massachusetts. In 2014, the company introduced its franchise program. The second Cyclebar location in Canada opened in March 2018 in Edmonton in Alberta.