SoulCycle
SoulCycle is a New York City-based fitness company with studios in nine U.S. states. Founded in 2006, it offers indoor cycling (also known as "spinning") workout classes.
History
Elizabeth Cutler, Julie Rice and Ruth Zukerman founded SoulCycle in 2006.[1] SoulCycle's first studio was on the Upper West Side.[2] The three were self-funded; a large amount of the money coming from Cutler’s investment in Izze Beverage Co.[3]
Rice, a talent agent prior to the beginning of SoulCycle, obtained her fitness passion from her father who was a physical education teacher. Rice developed SoulCycle to change New York’s attitude towards exercise being more of a requirement, and less of a social experience like it is in L.A.[4]
Rice’s husband is the Chief Marketing Officer and Cutler’s husband came up with the name.
Villency Design Group, founded by Eric Villency designed the signature SoulCycle stationary bicycle.[5] Villency Design Group engineered the SoulCycle bike seat as a “split seat” to relieve pressure and discomfort found in conventional bike seats.[6]
In 2011, the company was acquired by the Equinox Fitness subsidiary of The Related Companies and now operates as one of their brands.[7]
As of 2016, SoulCycle has opened 85 locations in the United States. SoulCycle offers classes to all age groups with approximately 20,000 people riding at SoulCycle every week and about 440,000 active riders.[8]
The company employs 1,500 people.[9]
The company’s reported net income in 2014 was $112 million, 50% greater from the previous year.[4]
Soul Cycle offers some free fitness classes for at-risk teens in New York City.[10]
Services and market
Research indicates that on average, SoulCycle riders burn between 500 and 700 calories during a typical 45-minute workout[citation needed]. SoulCycle uses custom bikes and clip-in cycling shoes for its classes. SoulCycle operates on a pay-by-class model and does not offer memberships. The indoor cycling classes features spinning, as well as hand weights, choreography to create a full-body workout. They also sell SoulCycle exclusive apparel as well as an option to purchase their signature SoulCycle bike.[9]
Philanthropy
SoulCycle launched their SoulScholarship program in 2014 with a mission to bring the joy of movement and the benefits of fitness to underserved adolescents. Their our SoulScholarship programs in New York City, DC, and Los Angeles. In the program, SoulScholars attend the 2 SoulCycle classes a week during a 10-week period as well as workshops in nutrition, overall wellness, job readiness, and college preparation. SoulCycle also hosts charity rides for organizations to raise money, while participated in a SoulCycle class. Through the charity rides, SoulCycle has raised over $2.5 million.[11]
References
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External links
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