Photo: Body Bike International
Is indoor cycling in decline? Not from where we stand.
The story from our partner Les Mills shows indoor cycling has been its top-performing category in terms of growth over the last year, for example, and our multi-site customers in Denmark have full classes with wait-lists. One major European customer, who looked at taking cycling studios out, is in the process of putting them back.
And in the UK, Leisure DB counted 2,594 gyms with a group cycling studio in 2023 (37.1 per cent of UK gyms), up from 2,409 in 2018 (34.2 per cent).
It’s incorrect to point to challenges in the boutique market – closures and reduced bookings through the likes of Classpass – and deem it evidence of a general decline.
Boutique is only part of the picture and the issues are not unique to indoor cycling – they’re sector-wide, not discipline-specific.
Boutiques boomed in the years leading up to the pandemic, with indoor cycling – and notably SoulCycle – leading the charge. However, as far back as 2019, [the now defunct] Club Industry reported that only 40 per cent of boutiques were making money.
Then came the pandemic and the cracks began to show: in the 2022 Boutique Fitness Solutions State of the Industry Report, only 9.4 per cent of surveyed studios had a profit margin of 20 per cent or more.
This has led to closures and not just in indoor cycling. Brands such as SoulCycle might have occupied the spotlight, but the higher they fly, the harder they fall – certainly in the headlines – and this has skewed the picture.
Meanwhile, there are many boutique success stories; Barry’s, for example, clearly sees the future in this discipline and is rolling out its Ride x Lift concept.
If we take boutique hypergrowth and subsequent rationalisation out of the equation, what we see is a market that’s very stable.
Indoor cycling pre-dates boutiques: it’s been a staple for decades. It might not be as ‘of the moment’ as reformer Pilates, but neither is it a discipline in decline.
One major European customer, who briefly took cycling studios out of its club, is in the process of putting them back
It ticks the boxes for everyone, providing a richness of data in a fun, music-filled and community-focused workout that engages and motivates.
One very positive thing boutiques have done is raise customer expectations, meaning an immersive, engaging experience is now the price of entry for indoor cycling.
Operators that are cutting back and quoting reduced member interest are in this position because they haven’t innovated or invested. That’s understandable given the last few years, but as investment budgets return, it’s time to upgrade spaces, equipment, tech and most of all instructors.
My simple advice? Hire people who will fill the room.
I’m confident indoor cycling will continue to stand the test of time, provided it evolves in line with consumer expectations.
Operators cutting back and quoting reduced member interest are in this position because they haven’t innovated or invested