Washington, D.C. is a lot of things - the nation's capital, a political hub (some may call it a swamp, and if they're referring to the insufferable summer humidity, they are correct). But those who live here know that D.C. is much more than a center for political discord.
In fact, according to the American Fitness Index, Washingtonians have Soulcycled, downward-dogged and lifted their ways to greatness, with D.C. ranking as "the fittest city in the U.S." for three years running.
So, when Megan Smyth was looking to expand her all-access fitness membership company, FitReserve, D.C. seemed like a natural fit.
"It has a very rapidly growing fitness scene, a young professional demographic," Smyth said. "We received strong inbound demand both from local consumers, as well as studios in the D.C. area so we knew there was a market there for us."
Plus, she added, her co-founder and FitReserve COO Bill Arzt grew up in the D.C. area, and she, herself, is a Georgetown University alum.
"It had a strong personal connection to us," she said.
FitReserve offers memberships to boutique fitness studios in New York, Boston and, now, D.C. Users register for one of four monthly recurring memberships, ranging from three classes a month for $55, to the platinum level option, which offers 20 classes a month for $225. With a membership, they gain access to fitness classes around the city at a discounted price.
Those on the 2o-class Platinum Plan, for example, pay $12 a class - over 50 percent less than the average $25 drop-in price for boutique fitness classes in D.C., the company said. FitReserve pays the studios an undisclosed amount per month, based on the number of reservations made through their platform.
After signing up on the website, users can download the app to peruse their class options and reserve a spot.
FitReserve is starting out with nearly 70 studios in the D.C. area, offering around 7,000 different classes a month.
Smyth launched in New York City in 2015, after quitting her job in finance. After a seed round in April 2015 for an undisclosed amount, FitReserve started out as a three-person team, partnering with 40 studios in the city. They've since grown to about a dozen people onboard, with around 360 studios in New York and 85 in Boston.
Her venture into the world of fitness was a timely one. According to fitness-focused investment firm, Piper Jaffray, the boutique fitness industry has grown by 450 percent since 2010. Over 100,000 luxurious niche exercise studios have opened across the country, offering kickboxing, indoor rock climbing, barre, cycling... the list goes on and on.
The benefit of FitReserve, said Smyth, is that users no longer need to choose just one of the thousands of options out there, or keep track of several memberships, class packages and member log-ins.
"We really enable variety so that you can mix and match. You don't have to do just spinning for one month or just pilates for one month... you can do pilates one day, boxing the next day, yoga the next day," she said. "That way you can really take advantage of all the specialized studios that are out there."
As the boutique fitness industry grows, so do companies like Smyth's. ClassPass, for example, is a similar venture - membership packages to several studios around the city. The key differentiator, says Smyth, is that FitReserve simply offers more access. ClassPass recently ended their unlimited classes per month package, making FitReserve's 20-class plan the largest option within the D.C. fitness membership market.
Users can attend studios up to four times a month, rather than three, and have access to the studio's entire schedules - they'll never see certain hours blocked off.
"[The other] way we're different is that we also offer a perks program," she said. "So that provides discounts on things like workout apparel, nutrition services, blowouts, massages - we really want to put everything that simplifies your active life all into one place."
While the company won't disclose member numbers, she says they're growing quickly. They're adding new features, like reviews and social booking, and expanding into new cities soon.
And in the so-called fittest city in America, she said, the number of studios they partner with will soon grow.
"There are strong [and] growing boutique studio markets so there are a lot of options for us to tap into," she said. "Overall, it's a young city, a lot of tech-savvy millennials looking for easier ways to access fitness."
Image used via CC BY SA 2.0 - Credit Ted Eytan
