You're watching...
FOXBusiness.com’s Kate Rogers with SoulCycle co-founder Julie Rice on how the indoor cycling studio plans to grow in the year to come.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Spinning is not for the faint of heart and -- an industry that's always betting on the next big health trend the founders of soul cycle say that they have found their -- The indoor cycling studios co-founder Julie rice says it's fourteen locations in new York and Los Angeles -- upwards of 4000 riders per day.
And then next year they plan to open seventeen new locations in new York and California creating 515.
New jobs so Julie thanks for being here with -- where did you first get the idea for your business my business.
Partner Elizabeth and I am really searching for -- party a group fitness experience that we could fall in love it and after searching high and there was an.
So we decided that we wanted to reinvent and fitness for the always -- What is one common misconception about growing your business that you think might be holding other fellow entrepreneur is -- I think when people have ideas they think that they need to be much bigger.
Then the actual idea to start a business it is.
Is -- -- start small and get being and I think that a lot of times people get in their own way -- thinking that their ideas not big -- So your hiring 515.
New people so from start.
To this hiring process.
What have you learned along the way and what are three tips you can give to other -- consumers who are looking to do the same thing really grow their business and create jobs.
Well I think one thing that you learn along the way is bad ideas don't have to start at so being.
I think -- a lot of entrepreneur lowers you have this idea he spends so much time thinking about it -- Somehow it becomes you know overwhelming actually hadn't started and ideas can start small and the beginning like I said we.
Wanted to -- 75 writers coming day and we each and every one of those writers.
Each of those writers mattered to us and all that was important that every single experience.
Was successful.
And one -- one we built those writers and now it's even -- hiring 550 employees but we really thought about it one writer at a time.
And so I would say for our entrepreneur bars are for people thinking about starting their own business.
The first thing that you need to do is really be passionate about what it is that you are going to create or -- Because entrepreneurship is -- 24% and I'm.
Is that type of career where he will do every job that your business has to offer and -- handed out towels and -- -- shoes and from the PR.
There's no job that I have not done -- cycle.
And so I think he really need to have a passion for what it is you're creating because it's just impossible to work that way if -- written.
On the next thing I think I would tell Japan -- is that you should never lose touch with your customer.
You know -- make sure every week I get out of my office and I still work in the front desk of one of our studios.
Because.
There's no doubt that if one person is in the lobby of the studio complaining that the towels -- -- -- where they didn't like the class that day.
That there are forty other people that thought that.
And it's really the only way he can continue just really improve your business daily basis and I think that there anything that I would say is that you really also need to continue to be user of your own products.
I ride its whole cycle four or five times a week.
And I will tell you that you know the business it's always -- -- what you are offering -- customer yesterday is not necessarily what they're gonna want tomorrow.
And the only way you can really keep in touch with that is to continue to use the product yourself.
Julie thank you so much for being with us here is happening in new York and -- Rogers with Fox Business stock.
