Comment
1
Tweet
1
Print
RSS Feeds

Zengo Cycle spins up $10 million expansion plan

Friday - 4/4/2014, 10:36am  ET

Bethesda spinning shop Zengo Cycles, which  announced plans to open its second location in Logan Circle last May, has even bigger fish to fry.

Zengo Cycles plans a $10 million expansion to create 20 to 30 new cycling studios throughout the East Coast in the next three to five years,  The Washington Post reports.

The company specializes in indoor cycling, which combines technology-loaded bikes, state-of-the-art music systems and instructors geared toward making exercise entertaining. 

Zengo, whose first two locations are both profitable, plans to open three more studios by the end of the year, including a location in the  now-established Mosaic District in Fairfax County, one in Gaithersburg and a fifth studio that has several possible locations under consideration.

The studios vary in cost because of real estate, but they generally range between $300,000 and $500,000 to open, which includes $40,000 for a sound system and nearly $100,000 for 45 bikes.

© 2014 American City Business Journals, Inc.