CRNK: Riding the Wave of Success with Themed Spin Classes and Innovative Business Strategies
When Taylor Swift's Eras Tour concerts were in full swing last year, spin studios worldwide seized the opportunity to cater to the hype by offering themed Taylor Swift classes. CRNK, a spin studio in Singapore, was one of the businesses that capitalized on the trend and continues to provide Taylor Swift- and other-themed classes. The studio's unique approach to themed classes set it apart in the competitive fitness industry. Vulcan Post interviews Andrew Khoo, the co-owner of CRNK, to delve into their journey.
Established in 2021 as a sister brand to boOm Singapore, CRNK was founded during a challenging time for fitness establishments due to the COVID-19 pandemic. Despite the obstacles faced by the industry, Andrew, along with his wife Jenell Khoo and friend Ivan Ngo, took over CRNK in early 2023 after boOm Singapore closed down. They were determined to run the business on their terms and provide value to their customers.
CRNK's business strategy focused on meeting customer needs by offering reasonably priced packages. Their unlimited monthly ride subscription, priced at S$200, provides affordable access to spin classes. Additionally, all spin classes at CRNK are themed around different music artists and concepts, setting them apart from other studios. The studio also offers classes at unconventional timings to accommodate busy schedules, a move that resonated well with Singaporeans.
CRNK's growth was fueled by word of mouth, despite starting with only 15 spin bikes and minimal attendance. The team's dedication paid off as the studio expanded to accommodate more riders. With an expansion to multiple locations and the introduction of new fitness classes, CRNK has been profitable since Andrew and Jenell took over the business.
Adapting to consumer demand, CRNK introduced various fitness classes while maintaining a grounded mindset to ensure financial viability. The team's quick pivots and willingness to close down unprofitable ventures have contributed to the studio's success. By creating opportunities for instructors to run their own businesses within CRNK, Andrew aims to foster a supportive ecosystem that benefits both parties.
Looking ahead, CRNK plans to venture into activewear and explore the concept of a cafe for sober parties and coffee raves. The studio's future endeavors aim to provide unique experiences for riders and participants while maintaining a lean and profitable business model. With a focus on collaboration and innovation, CRNK is poised for continued success in the fitness industry.