CycleBar Signs Master Franchise Agreement in Australia

IRVINE, Calif., May 7, 2020 /PRNewswire/ -- CycleBar, the largest indoor cycling brand, announced today that it has signed a Master Franchise Agreement in Australia, which gives the Master Franchisee the right to license at least 45 CycleBar studios to potential franchisees in the country over the next several years. CycleBar is one of  eight brands owned by Xponential Fitness, a curator of leading boutique fitness brands with over 1,500 studios open worldwide as of March 31, 2020.

The Australia agreement is in collaboration with CycleBar and entrepreneurs Matt and Bill Gordin, a father and son team currently based in Perth, Western Australia. The Gordins have extensive experience in the cycling world, with Matt recently appointed as CEO of BikeExchange USA, a large marketplace for bicycle products. Bill, Matt's father, previously founded Bike Force, an Australian bike retailer with 24 franchised locations across the country. Bill is also a seasoned competitive cyclist, with a gold medal at the World Masters Championship in 2018. The expansion of CycleBar in Australia is expected to begin with the first studio in Perth in late 2020.

"We are thrilled to be working with Matt and Bill Gordin to bring our CycleBar brand to Australia," said John Kersh, Chief International Development Officer for Xponential Fitness. "Matt and Bill share our vision for CycleBar in Australia, and they see an exciting future beyond the current global challenges. Their passion for cycling, and their experience in franchising, will provide an outstanding platform for long-term growth of the brand."

"We're very excited to enter into the Australian market by leveraging our proven model and share our brand with a very educated and vibrant fitness community," said Trevor Lucas, Senior Vice President of Operations for CycleBar. "We're looking forward to partnering with Matt and Bill as they franchise CycleBar in Australia as they bring exciting career opportunities to hundreds of franchisees and studio staff."

Over the last few months, Xponential Fitness has made strides in growing its global footprint, with Club Pilates most recently announcing a Master Franchise Agreement in Singapore. In November 2019, the company signed a multi-brand Master Franchise Agreement in Germany and Austria, a development slated to bring numerous Xponential Fitness studios to the countries over the next five years. Additionally, the company expects to have a new presence in the Middle East after signing a multi-brand Master Franchise Agreement in Saudi Arabia, to license studios to potential franchisees in the country over the next ten years, including Club Pilates, Pure Barre, CycleBar, YogaSix and AKT. Xponential Fitness also has a presence in Canada, Japan and South Korea.

Backed by CEO and Founder Anthony Geisler and Snapdragon Capital, Xponential Fitness was ranked in 2019 among Fast Company's annual list of the World's Most Innovative Companies in the Wellness category in, and in 2020, had three of its brands – Club Pilates, Pure Barre and CycleBar – included on Entrepreneur's coveted Franchise 500 ranking, with five of its brands - StretchLab, Pure Barre, YogaSix and CycleBar - also being included on Entrepreneur's Fastest Growing Franchise ranking.

For more information about Xponential Fitness and to learn more about its various franchise opportunities, visit www.xponential.com.

ABOUT CYCLEBAR:

Founded in 2004, CycleBar is the largest indoor cycling brand by number of studios and offers a variety of low-impact, high-intensity indoor cycling workouts, which are inclusive of all fitness levels. CycleBar offers an immersive, multi-sensory experience in state-of-the-art "CycleTheaters," led by specially trained instructors, enhanced with high-energy "CycleBeats" playlists and tracked using rider-specific "CycleStat" performance metrics. Head-quartered in Irvine, CA, CycleBar is backed by Xponential Fitness, the largest franchisor of boutique fitness brands in the United States. To learn more about the CycleBar franchise opportunity, visit www.cyclebar.com.

ABOUT XPONENTIAL FITNESS:

Founded in 2017 by Anthony Geisler, Xponential Fitness has built and curated a diversified platform of eight disruptive boutique fitness brands spanning across fitness and wellness verticals - including Pilates, indoor cycling, stretch, rowing, dance, running and yoga. Currently, Xponential Fitness' portfolio of brands includes Club Pilates, the nation's largest Pilates brand; CycleBar, the nation's largest indoor cycling brand; StretchLab, a concept offering one-on-one assisted stretching services and group stretch services; Row House, a high-energy, low-impact indoor rowing workout; AKT, a dance-based cardio workout combining toning, interval and circuit training developed by Celebrity Trainer Anna Kaiser; YogaSix, a modern boutique yoga brand; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements; and most recently, STRIDE, a treadmill-based cardio and strength training concept. Visit www.xponential.com to learn more.

SOURCE CycleBar

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http://www.cyclebar.com