Cyclebar

I noticed a Cyclebar was opening up in Davie next to Costco and didn't think much of it. A bar with bicycles hanging on the walls maybe? Then I saw the one in Fort Lauderdale across from The Fresh Market. Ok, time to take a picture and figure out what it is.

First of all, Cyclebar is a franchise operation, and a fairly new one. $50K and you're in. Plus the build out. Then you get to pay them 7% of your revenue. As with most franchises, it's great deal for the franchisor.

Why this is important that that franchises like this are owned by amateurs. People who think that owning a business might be a good idea. Maybe something for the wife to do. Tilted Kilt comes to mind. You buy an idea and they train you for a couple of weeks and then you're on your own.

First things first; Cyclebar is not a bar. There's no food or drinks; just water and shoes. These are basically spin classes in a high tech environment. Video, sound.

Soul Cycle is the brainchild of this idea; they get $34/class and are located in higher end neighborhoods like Coral Gables and South Beach. This "idea" is that it costs less. Just $18-20 per class. Soul-Cycle charges $3 for shoes and charges for water. Those things are free at CycleBar.

There are some entrepreneurs that started a similar concept in January 2015 in Fort Lauderdale called CycleWard (near the Red Lobster on US1). Why do you need to pay franchise fees and 7% of your revenue to set up a bunch of stationary bikes and a video and sound system? It's not that complicated.

While this location is downtown, it's located in parking challenged flagler village, where more and more businesses are opening despite insufficient fixed parking. There wasn't enough parking when Flagler was 1/2 full and Mellow Mushroom was the only venue. So like the Brass Tap, this will effectively be a gym for people who live in Flagler. Expect to see discount coupons on Living Social shortly.