Multi-Unit Franchisee Magazine Issue I, 2016 | Page 45

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C Y C L E B A R®

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P R E M I U M

I N D O O R

C Y C L I N G™

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International Opportunities

172 Studios Sold*
F A S T - G R O W I N G

F R A N C H I S E
H I G H

A V A I L A B L E
I N V E S T M E N T

S O O N !

R E T U R N

* Includes Studios with signed Franchise Agreements and Studios committed to be developed under signed Development Agreements as of June 16, 2015.
** As disclosed in Item 19 of the CycleBar Franchise Disclosure Document (FDD) dated January 6, 2015. This figure reflects the actual EBITDA before royalties achieved during the period from January 1, 2014 to December 31,
2014 for a Studio in Wellesley, MA (61.61%) and in Royal Oak, MI (61.64%), which were th