The boutique fitness industry is booming, and one woman, Ruth Zukerman, has had a groundbreaking role in the growth and change of it.
She was one of the original three co-founders of SoulCycle in 2006, and after parting ways with that company in 2009, Zukerman started Flywheel with new business partners and financial backing by Tricera Partners. Flywheel now has fitness studios across 19 cities in the U.S. as well as a studio in Dubai.
In her new memoir, “Riding High: How I Kissed SoulCycle Goodbye, Founded Flywheel, and Built the Life I Always Wanted,” Zukerman, 57, describes her journey to founding two successful boutique fitness companies.
Yahoo Finance spoke with Zukerman, the founder of both SoulCycle and Flywheel spinning chains, about channeling her passion into success.
Finding empowerment after divorce
Zukerman wasn’t sure where her career path would lead after ending her marriage. She says that before her divorce, she was in the dark about her finances. “I never paid a bill,” she says.
She describes being shocked by the judge who presided over her divorce settlement, telling her she would not receive enough spousal support money to maintain her status as a stay-at-home mother. Zukerman recalls, “she looked at me and said, ‘Honey, you’re gonna have to go get a job.’”
Zukerman had no formal business training, but after attending her first spin class at the Reebok club in Manhattan, she says that something clicked. “I had no idea what that would become, but there was obviously something in me that pushed me in that room… and obviously started my path to success.”
Recognizing what people need
Spinning, Zukerman realized, had a profoundly positive effect on her, and that she should embark on a mission to share the wealth with others. Being a former dancer made the transition natural. “It made perfect sense, in light of the fact that I was a dancer,” she says. The choreography on a stationary bike in the spin class, it turns out, is quite similar to that of choreography in dance.
Zukerman also recognized in building her business that not only did her clientele need the positive one-on-one attention, but her employees needed it too. “One of the things we instilled when we started Flywheel, I wanted everyone to be treated equally, no matter what their role was,” she says. She feels that this policy has helped Flywheel be so successful. “Employees are just as important as customers,” she says.
Why women are dominating the fitness industry
While she was turning her passion into a job, Zukerman says she recognized that she should align herself with people who had skills that she didn’t have. This included women she met through her journey at SoulCycle, and the people who became her business partners for Flywheel. She says that a big reason women are dominating the fitness space right now is that they recognize the importance of being strong both physically and mentally. “I think it just all contributes to where we are right now.”
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