The Australia deal further expands parent company Xponential Fitness’ international footprint.
Indoor cycling brand Cyclebar has signed a master franchise agreement in Australia, giving father and son team, Matt and Bill Gordin, the right to license at least 45 CycleBar studios to prospective franchisees in the country.
The duo has 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. They expect for the first CycleBar in Australia to begin with an initial studio in Perth in late 2020.
John Kersh, chief international development officer for Xponential Fitness, said: “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.”
CycleBar is one of eight brands owned by Xponential Fitness, which has over 1,500 studios open worldwide.
