Is SoulCycle Still Popular?
Peloton came and stole much of SoulCycle’s thunder. Then came Covid… SoulCycle has had a tough few years. In addition, allegations of Sexism, fat shaming emerged in the New York Times. See: Opinion | Goodbye to the Cult of SoulCycle – The New York Times (nytimes.com)
So what is does the future hold for this once mega popular cult-like workout class? Well two of our Rebellionites attended a class today and were shocked to find they were 2 of 7 people in an entire class that has room for dozens of people. Could it be a Thursday in August? Moreover, most New Yorkers are away on vacation. But, still this is shockingly low for even the dog days of summer.
But with such poor class attendance how long can SoulCycle survive? The overhead of the studios, teachers, managers is immense. Of course cost cutting can and will occur. But, how much cost cutting can occur with studios designed for the rich? Santa Monica, Greenwich, Scarsdale, Manhattan are not low rent environments. So the rental expense of each studio must be considerable.
We really love SoulCycle and hope the following returns and the classes thrive. We’ll see. The consumer can be fickle.