Questions asked before opening a SPIN® studio or indoor cycling studio

Over the past 6 months….since posting this blog and setting up to help “studio starters” around the country (and around the world) — there are certain questions that come up again and again.  When I answer these questions, I do not speculate —- I base my answers on the actual operating history of the several studios I have been directly involved with.   Surprisingly, very few people ask “how much money can I make on one of these studios” — thought that is probably the most important question when determining how much time, effort and capital to expend.  More often, folks are passionate about moving ahead and really want to know about details that can help.

  1. Do I need showers?  (surprisingly the answer here in more cases than not……is ‘not really’, for several reasons)
  2. How do I find teachers ?  (this is easier than you might think……but is an ongoing process and probably the most important thing you can get good at)
  3. What kind of bikes should I get?  (3 words to be concerned with here:  durability, durability, durability)
  4. What are the key factors in selecting a location?  (access to the right demographic market, parking issues, noise issues)
  5. What are the best pricing models to consider (this depends, but a key is looking at other niche fitness studios in your area)

There are dozens more, and each of these have nuances that need to be considered, happy to discuss at your convenience:  781-254-3677  billpryor@comcast.net

Advertisements

One response to “Questions asked before opening a SPIN® studio or indoor cycling studio

  1. Hi Bill! Great that you are offering this information. I am preparing a business plan and am interested in the numbers: how much money I can generate to cover costs and pay myself a salary. I am passionate about the sport and am enterprenerial, and have some ideas about further differentiating in this niche market. My demographic is 40+ and I’m particularly interested in “senior” athletes. My big concern is insurance.

    Can you help me explore this?

    Thanks!
    Valerie

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s