What should I check before buying an indoor cycling studio?

The business behind an indoor cycling studio is practical. It rests on a fleet of bikes, some software, a lease with neighbours on the other side of the wall, and a schedule that has to fill at the right hours. Here is what to look at before you make an offer.

The bike fleet

Ask for a list of every bike with its age, make and service history. A fleet bought all at once tends to wear out all at once, so ask when the owner expects to replace bikes and what that would involve. Find out whether bikes are owned, leased or financed. If any are financed or leased, ask your lawyer how the obligation passes to you, and what the lender or lessor must approve.

Software, subscriptions and music

Many bikes connect to software that handles booking, performance screens or leaderboards. Ask which subscriptions exist, who holds the accounts, and whether they can be moved to a new owner. Ask how music is licensed for classes and who pays for it. Do not assume that the arrangements the seller has will continue unchanged. Get them in writing and confirm each with the provider.

Sound, neighbours and the lease

Read the lease with noise in mind. Ask whether other tenants have complained, whether the landlord has raised sound, and whether any clause limits class hours or volume. A studio that cannot run its busiest classes is a different business from one that can. Also ask whether the lease can be assigned to you and for how long it runs.

How classes fill

Ask for attendance by time slot and instructor. Cycling studios often fill peak slots and struggle in the middle of the day, so one strong evening does not tell you much. Ask what a typical class looks like and who draws the biggest crowds.