indoor cycling
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ndoor cycling is no doubt a popular class, if not a phenomenon – but is it paying its way? With some studios lying empty for over 90 per
cent of operating hours, it could actually be costing you money. From increasing participation, to virtual classes, to setting up standalone group cycling studios, here we look at ways to maximise your ROI.
the economic argument Gary Warren, global marketing director
of the Indoorcycling Group (ICG), believes dedicated group cycling studios can be “a questionable business decision”. He explains: “Many operators I
consult with tell me their indoor cycling programme is going brilliantly, and while I would have to acknowledge that group cycling generates new members from a service offering alone, you have to look at the sums. Often they run just 10–15 classes a week. Say each class is
45 minutes long, that’s about 7.5 hours of use a week out of, say, 102 hours’ operation, assuming a club opens at 6am and shuts at 11pm six days a week. That means the studio’s in use for just 7 per cent of operating hours. Considering that clubs will invest some £20,000 into bikes, plus the cost per square foot for rent, and considering that the studio can’t easily be used for anything else, you have to question the economics. I ask them: ‘If your treadmills were only used 7 per cent of the time, would you be happy?’” Elena Lapetra, head of Schwinn UK,
disagrees: “Merely analysing the space and the usage time is not a great measure of the impact of cycling. The passionate members who participate in cycling programmes are very loyal because of the programme. That’s probably the largest factor in the ROI of group cycling, and it’s diffi cult to measure. However,
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indoor cycling has steadily grown over the last 20 years, is a class that’s held in probably every country around the world, and has been named several times by operators as the most popular group exercise class. I’d say its impact on clubs and members goes well beyond square foot versus downtime.” Nevertheless, it’s important to ensure
that indoor cycling pays its way. The most obvious answer, apart from increasing prices, is to get more “bums on seats”, according to Lyndon Wood, sales director for Trixter, by increasing the number of classes or bikes. “Alternatively, in an all-inclusive site, offer something that differentiates you from your neighbour to drive membership sales,” he adds. Ultimately operators need to broaden
the classes’ appeal, says Warren: “We need to concentrate less on the 10 per cent of hard core users and concentrate more on the average fi tness member.”
august 2011 © cybertrek 2011
MONEY SPINNER
Jo Talbot investigates how to make your indoor cycling studio pay its way
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