Toronto’s spinning-loving set with both cash and calories to burn will be pleased to know that SoulCycle will soon be a thing in Toronto.
The American workout chain – which has a cult-like and celeb-filled following – will open its first international workout location in the 6ix in March 2017.
For those in the dark, the trendy spin class offers a full-body, rhythm-based workout (complete with hand weights) with cardio-dance party roots, combined with a mind/body meditative component designed to inspire riders emotionally.
Basically, the unique experience offers the best of all worlds, complete with a distinctive community vibe.
The experience doesn’t come cheap, though. In cities like New York, a single class will set you back $34, with no option for unlimited class rates. Not to mention, cyclists need clip-in shoes, which the company rents for $3 a class or sells for $150 a pair.
The New York-based company opened its doors in 2006 and has since grown to 67 locations in the U.S., with an additional four set to open this winter. The company is set to expand to at least 250 studios in the US at a rate of 10 to 15 per cent per year, according to a preliminary prospectus the company filed in the summer of 2015 for an initial public offering that has yet to happen, as The Canadian Press reports.
Whether SoulCycle coming to Toronto is a good business move is another story, according to some experts.
Mainly, it comes down to cost.
According to The Canadian Press, industry insiders say the company could face a challenge in Canada, where the healthy supply of boutique spin studios operate at half the cost of SoulCycle charges.
In Toronto, most spin classes will cost an average of $20 and most studios offer packaged discounts.
At the same time, people will pay for a refined experience and a cool vibe, like that offered at the successful Toronto influencer-filled Spoke Haus – which opened its doors in February – where one class costs $28.
In terms of cost, one may have said the same thing about Equinox – owned by SoulCycle’s parent company Equinox Holdings – regarding the pricey membership rates before it hit Toronto, yet the luxurious gym seems to see no shortage of designer workout gear-clad members. A third Canadian Equinox location will open in Vancouver by the end of next year.
In a city where young professionals don’t think twice about dropping $13 on a green smoothie on their afternoon break or $18 for a specialty cocktail, I have a feeling that SoulCycle is going to do just fine.