Cycle studios – the missing opportunity

We can’t escape the rising success of boutique cycle studios, which are proving to be some of the most lucrative spaces in the fitness sector, with some utilising their studio 80 per cent plus of the time, experiencing thousands of attendees a week. In contrast, in multi activity fitness facilities – cycling is often stagnant with many studios sitting dormant for 80 per cent of the week.

Let’s not pretend anymore – boutiques are smashing it. They are popping up everywhere, showing no signs of slowing down and the big names have ambitious expansion plans.

Millennials – anyone born between the late 1970s – 2000 are a lucrative audience for this boutique market / concept. Millennials, now the biggest fitness market segment, are swarming to boutiques despite their high prices.

These people are the future of the industry but we cannot cater to them indirectly – we need to give them what they want so they join and ultimately stay.

“Young consumers seem to be heavily attracted to boutiques because they foster a powerful community where people’s aspirations, commitments and passions are highly similar,” says Steve Tharrett, principal of Club Intel and author of Studio Success.

Underpinning their success is that they do one thing and they do it well. For the club, it’s easy to sell, and gives focus from an execution and resourcing perspective. For consumers, it’s easy to understand. It’s a non-complex value proposition.

So what else are these boutiques doing well? What else are they doing that you might not be? What can we do, together, to appeal to them whilst maintaining our current customer / user base?

There are five areas boutiques are excelling in that leads to their success.

To find out how you can tap into these areas and potentially add thousands of pounds to your bottom line, attend a Les Mills Insight seminar. You will gain the latest insights into this huge global trend and look at how you can capitalise on this opportunity. Register at: www.eventbrite.co.uk/d/united-kingdom/les-mills/