Summary
- Profitable and Well-Established - 400+ loyal members - Top 5% Class Pass studios in Australia - 150+ riders on packs - Full training provided for new owners - Open to Partial Investment
Revenue
$700,000 pa
Rent
$168,000 pa
Expenses
$300,000 pa
Net Profit
$162,000 pa
Location Details
270 Young Street
Located in the heart of Fitzroy, just 1.50 km from the Melbourne CBD, benefitting from direct access to various forms of public transport via tram routes along Brunswick Street, Smith Street and Nicholson Street, and bus routes on Johnston Street.
Potential
We are already ranked the number 1 CycleBar globally outside of the USA. This is a great opportunity for someone who wants to come in and operate an already successful business in the fitness space. You can step into a thriving operation with a loyal membership base, and a proven profitability model. Skip the uncertainties and challenges of starting from scratch and seize this unique chance to take the helm of a leading fitness studio.
Skills
● Excellent sales, communication, and customer service skills required
● Great leadership skills
● Must have genuine hospitality and passion for people
● Goal-oriented with an ability to achieve sales in memberships and retail
● Ability to learn and use the ClubReady software system
● Must have flexibility for a non-traditional schedule including some holiday, early-morning and weekend availability
Hours
Mornings and evenings Monday - Thursday
Mornings Friday to Sunday
Lease
8-years remaining on the lease with the option to extend, providing long-term stability and security for the business.
Employees
Awesome team of instructors and front of house - all fully trained and established and all on casual contracts. With a solid team in place, new owners can hit the ground running and continue to deliver a high-quality fitness experience.
Reason for Sale
My wife and I are very sad to be leaving the business however we are about to start a family and want to move interstate to be closer to our family. The business is primed for continued success with its profitable operations, loyal customer base, talented team, and top global ranking. This presents a unique opportunity for passionate individuals to take over a thriving business and make their mark in the fitness industry. We are committed to ensuring a smooth transition.
About the Business
CycleBar Fitzroy is a unique gym situated in the bustling heart of Melbourne, attracting fitness enthusiasts from all walks of life. Nestled in a vibrant and popular section of the city, this studio enjoys a prime location with no direct competition, offering a one-of-a-kind fitness experience to its members. With the potential to pay yourself a salary and take dividends from the business immediately, you can enjoy a steady income stream while working a flexible schedule of 20-40 hours per week.
Beyond its impressive business metrics and accolades, what truly sets CycleBar Fitzroy apart is its community of awesome members who have not only embraced the studio but have also forged genuine friendships within its walls. The sense of camaraderie and support among members adds a special touch to the already rewarding and challenging experience of owning and operating this business.
As the new owner of CycleBar Fitzroy, you will have the opportunity to immerse yourself in the fitness industry and the suburb of Fitzroy and gain invaluable insights into running a successful business. The journey will be enriching, filled with learning experiences, and will empower you to make a meaningful impact in the lives of your members.
History
We decided to open CycleBar Fitzroy at the height of COVID - we identified the need for a spin studio in Fitzroy and we knew COVID was not going to last forever and when the endless lockdowns were over people would want to come back to gyms for group classes.
In June of 2022, we opened our doors and our hypothesis has turned out to be correct.
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