CycleBar

Cyclebar is a boutique fitness franchise focused on indoor cycling. Bill Pryor and Alex Klemmer founded the company in 2004, although some sources identify 2014 as the start of its more aggressive franchising expansion. Its headquarters are in Irvine, CA. Xponential Fitness acquired Cyclebar in 2017, accelerating the brand’s growth, and Extraordinary Brands became its owner in 2025. Trevor Lucas is the President of Cyclebar. The brand currently has over 200 studios open worldwide. By May 2022, it had opened its 250th studio and had secured over 500 franchise agreements during its history. By May 2021, the network included 227 locations in four countries, including its first studios in Saudi Arabia and Australia. Cyclebar describes itself as the largest dedicated indoor cycling brand by footprint, with a footprint three times larger than its closest competitor. The Fitness and Recreational Sports Centers industry had a total addressable market of USD 146.33 billion in 2025 and is projected to reach USD 235.47 billion by 2031, representing a Compound Annual Growth Rate of 8.12%. These figures place Cyclebar within a growing boutique fitness category, although buyers should still complete their own due diligence before investing.

The broader Fitness and Recreational Sports Centers market has several published growth estimates. One analysis values the market at USD 146.33 billion in 2025 and projects USD 235.47 billion by 2031, at a CAGR of 8.12%. Another estimates USD 148.03 billion in 2025 and approximately USD 324.05 billion by 2035, with a CAGR of 8.15% from 2026 to 2035. A separate report places the market at USD 123.77 billion in 2024 and USD 180.44 billion by 2033, at a CAGR of 4.06%. Another forecast expects an increase of USD 104.1 billion at a CAGR of 10% between 2024 and 2029. North America held approximately 37.5% of the market in 2024. Demand is supported by greater global health awareness, continued interest in specialized boutique fitness, and consumer interest in workouts built around community. Post pandemic attention to personal well being and willingness to pay for experiential fitness also support Cyclebar’s indoor cycling model. Franchise investors may be drawn to the category because of its resilience, customer retention rates, and the ability to expand boutique fitness concepts. Cyclebar remains the largest dedicated indoor cycling brand and is three times larger by footprint than its closest competitor. Advancements in fitness technology, digital member engagement, and immersive workout environments create opportunities for brands using proprietary systems and structured franchise support.

Opening a Cyclebar studio requires several financial commitments. The current franchise fee is $60,000. An older 2017 FDD listed a range of $30,000 to $49,500, with a standard fee of $49,500. Eligible veterans can receive a $1,500 discount on the franchise fee for their first studio, along with a waiver of the $499 training fee through the VetFran program. The 2025 FDD estimates total initial investment from $410,809 to $1,110,193. The amount depends in part on location, construction needs, and leasehold improvements. Leasehold improvements may cost $48,500 to $539,000, while other sources estimate $129,000 to $244,730. Fitness equipment and the initial FF&E package are estimated at $111,800 to $176,600. Other estimates identify payments associated with that package of $8,600 to $22,700. Signage is estimated at $6,000 to $33,500, with another source listing $11,000 to $26,905.

Other opening costs include $10,000 for operating supplies, $14,000 to $18,000 for a pre sales and soft opening retail inventory kit, and $56,000 for the computer system and A/V equipment. Business licenses may cost $500 to $1,000. Technology and software fees are listed at $6,831. Initial marketing and advertising are estimated at $34,700 to $48,200. Initial instructor training costs $5,000, compared with $15,000 in an older FDD. Insurance is estimated at $4,478 to $9,062. Franchisees should also plan for additional funds for 3 months of $25,000 to $67,000, with working capital estimates of $12,000 to $23,000. Real estate and lease costs are estimated at $25,000 to $35,000. Both charges are collected monthly. Typical liquid capital is $100,000, although some sources cite $150,000. Minimum net worth is generally $600,000, with estimates ranging from $500,000 to $5 million. Cyclebar does not provide direct financing. Third party financing options are available to franchisees. The overall cost places Cyclebar among the higher investment options in boutique fitness, with support and training included in the operating model.

Cyclebar’s operating model centers on studio flow, class scheduling, and the rider experience. Corporate guidance can assist with hiring instructors, general managers, and sales staff. Instructor quality is central to the cycling experience. Drive through and kiosk formats do not apply to the Cyclebar studio model, which focuses on the in studio environment. Training includes operations education, specialized instructor instruction, webinars, and one on one support. A mandatory 3 day course takes place at the corporate headquarters. Franchisees pay travel and living costs for trainees, estimated at $500 to $2,500 for three people. After opening, franchisees can attend an annual Franchise Convention and receive weekly support. Corporate assistance covers site selection, lease negotiation, studio construction, recruiting, pre sale activation, and launch marketing. Ongoing coaching continues after the studio opens. National vendor relationships support purchasing and product consistency.

Technology is built into the studio system. Cyclebar provides an integrated POS and CRM system for daily management. The proprietary CycleStat platform gives riders real time performance metrics, while CycleBeats supplies curated playlists for classes. A dedicated member app supports engagement and retention. Specific multi unit requirements are not disclosed. The support structure and the brand’s expansion suggest that the model can serve owner operators as well as franchisees pursuing multi unit growth with strong management teams.

Independent market analyses and previously released figures provide several revenue references. Unit count has grown consistently since the 2017 acquisition by Xponential Fitness. In the year before May 2022, Cyclebar awarded more than 100 franchise agreements. Its position as the largest dedicated indoor cycling brand by footprint, at three times the size of its closest competitor, may provide advantages to individual studios. The brand’s Loan Activity Score is 45, categorized as “Fair.”

Cyclebar has expanded consistently, particularly since Xponential Fitness acquired it in 2017. The brand has over 200 studios open, reached its 250th studio by May 2022, and has secured more than 500 franchise agreements over its history. By May 2021, it operated 227 locations in four countries, including its first studios in Saudi Arabia and Australia. The 2024 FDD reported 218 franchised Cyclebar locations operating across 39 states plus Washington D.C. in the USA. The Southern region had the largest concentration, with 90 locations. More than 100 franchise agreements were awarded in the year before May 2022. Cyclebar is pursuing additional domestic and international growth. By May 2022, it had 11 locations in Australia and planned to open 30 more stores there by the end of that year.

The brand’s competitive advantages include its footprint, proprietary technology, vendor relationships, and instructor standards. Cyclebar identifies itself as the largest dedicated indoor cycling brand, with a footprint three times larger than its closest competitor. Its integrated POS and CRM system, CycleStat performance platform, and CycleBeats playlist system support studio operations and the rider experience. National vendor relationships may provide purchasing scale and cost efficiencies. The emphasis on instructor quality is intended to support a consistent experience across studios. Cyclebar continues to invest in its member app for engagement and retention, technology, international and domestic expansion, and franchise support. These factors are intended to help franchisees respond to market conditions and build Cyclebar franchise revenue.

An appropriate Cyclebar franchisee needs more than the financial capacity to open a studio. The model suits an entrepreneur with management ability, operational discipline, customer service awareness, and an interest in fitness and community building. Direct industry experience can help, but Cyclebar’s training and support are designed for people from varied professional backgrounds. Candidates with management experience and a focus on operating standards may be well suited to the concept. The brand’s expansion and number of franchise agreements create an opportunity for multi unit development, particularly for experienced entrepreneurs who can build strong management teams. Cyclebar is expanding into new domestic and international markets, leaving territories available for new franchisees. In the USA, the Southern region has the most locations, at 90, while the brand is expanding across 39 states plus Washington D.C.

The time from signing a franchise agreement to opening a studio depends on site selection, lease negotiation, and construction. Cyclebar’s corporate team provides guidance in each of these areas. The initial franchise agreement term is typically 10 years. Renewal provisions, transfer requirements, and resale considerations are set out in the Franchise Disclosure Document. The 10 year initial term gives a franchisee a defined period for planning and operating the business.

Cyclebar warrants careful review for buyers considering a boutique fitness franchise. The Fitness and Recreational Sports Centers market is projected to reach USD 235.47 billion by 2031 at a CAGR of 8.12%. Cyclebar is identified as the largest dedicated indoor cycling brand, with a footprint three times larger than its closest competitor. Initial investment is estimated at $410,809 to $1,110,193, and typical liquid capital is $100,000. Buyers can use the full Cyclebar franchise profile on PeerSense when evaluating the opportunity.