“How I Built This” (SoulCycle) Notes January 6, 2019
- Both founders had babies when they started the company around 2005.
- Saw boutique fitness studios were a thing in LA (no changing of user behavior)
- Quote: “Had a need for a product” - not “I want to be an entrepreneur”
- Quote: “One of those things that would not leave me.” Always came back to this idea.
- Everyone thought this was the dumbest idea - including loved ones. (“Spinning is over.”)
- At the time, no fitness class charged per class. This was a novel business idea. Breakage was the business model.
- Husband said she would ruin her life - work 24/7. Neither founder cared - they were going to do this.
- Founders met through a cycling instructor, who was initially the third founder.
- Assumption: Exercise didn’t have to be torture.
- May be revisionist history but founders had such conviction that people would pay for this and this needed to exist.
- Found first location on CraigsList - 1,200...
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