US indoor cycling brand CycleBar set to foray into Australia
US indoor cycling brand CycleBar has signed a master franchise agreement in Australia, which gives the master franchisee the right to license over 45 CycleBar studios over the next several years to potential franchisees in the country.
CycleBar is one of the eight brands owned by Xponential Fitness, a curator of boutique fitness brands with more than 1,500 studios open across the world, as of 31 March 2020.
According to the indoor cycling brand, the Australia agreement is in collaboration with entrepreneurs Matt and Bill Gordin, a father and son team, who are said to have vast experience in the cycling world.
Matt Gordin was appointed recently as CEO of BikeExchange USA, a marketplace for bicycle products. His father Bill Gordin had previously founded Bike Force, a bike retailer with 24 franchised locations across Australia.
John Kersh – Chief International Development Officer for Xponential Fitness said: “We are thrilled to be working with Matt and Bill Gordin to bring our CycleBar brand to Australia.
“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.”
Trevor Lucas – Senior Vice President of Operations for CycleBar said: “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.
“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.”