A MESSAGE FROM OUR CEO

Bikergang, 

This message is one that I’ve been dreading to send. Effective today, we are regretfully deciding to close down YVR CYCLE. 

In making this decision, I was reminded of something that a close friend recently told me - two things can be true at the same time.

This first truth is that my heart is broken that this decision has had to be made because of all of you and the amazing community that you’ve built over these last 18 months. You all have shown such passion, dedication and support for this community as riders. Our team believed that the community we could create was something Vancouver needed, and you truly brought that belief into reality. There are so many memories with YVR that we will hold with us forever, and so much that this team should be proud of. Thank you for being a part of something truly special in Vancouver and I’m so sorry for the impact that this decision will have on each of you. 

The second truth is that, as a business, we could no longer operate in YVR based on the results that we were seeing. The reality of this location for us is that we have lost money 17 out of the 18 months that we’ve operated in Yaletown. We started with an uphill battle with rents at +$26,000/month and a studio that is larger than we typically build (3500 sqft instead of 2500 sqft). With SOUL CYCLE leaving a fully built-out studio, this was an amazing opportunity to launch our community in YVR for around $100K instead of our usual $450-$650K build-out costs. But we simply didn’t see the pace of growth that we needed to sustain the business in Vancouver, which meant that our Alberta studios were helping it stay afloat.

So what now? 

For our Membership holders, your memberships have been canceled and you will no longer be charged for any renewal payments. 

For our pass-holders, we are working with some other local studios to make sure that you all can have your passes honoured within the Vancouver fitness community to hopefully help other studios to continue pushing through what’s become a tough environment and time in this market. 

I understand that this news will come with many emotions, thoughts and even more questions. We are committed to saying goodbye in the best way possible and with the resources available to us at this time.

Thank you for your patience and understanding during this challenging time. 

From the bottom of my heart, I’m sorry and thank you for everything. 

Andrew Obrecht 

If you are looking to reach out for any reason, please do so through this link. (https://form.typeform.com/to/LPQCtesM)