Does Bft directly offer franchises for CycleBar Studios, or is this done through an affiliate?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
Our affiliate, CycleBar Franchising SPV, LLC ("CB SPV"), a Delaware limited liability company, has offered franchises for indoor cycling studios under the CYCLEBAR® trademark ("CycleBar Studios") since April 2023. Our affiliate, and predecessor to CB SPV, CycleBar Franchising, LLC ("CB"), an Ohio limited liability company, previously offered franchises for CycleBar Studios from January 2015 through March 2023. The franchise agreements, area development agreements, and certain other agreements related to CycleBar Studios that were signed by CB before the Reorganization were assigned to CB SPV as of December 31, 2023. As of December 31, 2024, there were 189 franchised CycleBar Studios in operation.
Source: Item 1 — THE FRANCHISOR, ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 7–12)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, Bft does not directly offer franchises for CycleBar studios. Instead, an affiliate, CycleBar Franchising SPV, LLC ("CB SPV"), has been offering franchises for indoor cycling studios under the CYCLEBAR® trademark since April 2023. Prior to April 2023, another affiliate, CycleBar Franchising, LLC offered these franchises from January 2015 through March 2023.
This means that if a prospective franchisee is interested in opening a CycleBar studio, they would not be dealing directly with Bft, but rather with Bft's affiliate, CB SPV. The franchise agreements and related documents signed with the previous affiliate, CycleBar Franchising, LLC, before the internal reorganization were assigned to CB SPV as of December 31, 2023.
As of December 31, 2024, there were 189 franchised CycleBar Studios in operation. This demonstrates that CycleBar is an established franchise system, but it's important to recognize that it is operated separately from Bft, even though both are part of the Xponential Fitness portfolio of brands.