Meet Jo and Nico, the duo behind dynamo
For those of you, like me, newly obsessed with indoor cycling, the name dynamo should ring a bell. In this story, we’ve asked longtime friends Jonathan and Nicolas (Jo and Nico) to share their beginnings and experience as entrepreneurs, from how they got their very first customers to their holistic approach to branding.
You’re two finance guys who started a lifestyle business. What was the trigger?
Jo: I’ve known Nico for over 10 years now. We met at HEC Paris, it was bromance at first sight and I always thought one day we’d build something together. But it wasn’t until early 2015, while I was working in a finance job in New York, that my entrepreneurial spirit resurfaced. My wife had introduced me to something that really would change my life forever: indoor cycling. The sweat, the adrenaline rush, the fun. I wanted to bring that experience to France and I knew Nico was the right person to help me do it.
Nico: Jo was so excited with the concept that the day after he called me I booked a flight to New York. We spent the first few months of 2015 conducting market research and building a business plan which led to a first round of funding from Business Angels that summer. At the time, we were called LET’SRIDE, and in February 2016 we opened our first studio near Oberkampf in Paris. We met the Eutopia team soon after that. They made an investment in mid 2016 that allowed us to open a second studio on Rue Lafayette. A year later we acquired dynamo, the other major indoor cycling player in Paris, and chose to keep their name.
Were you into sports before starting dynamo?
Nico: We both love sports! We’re very much into winter sports, hiking and kite surfing. Jo used to also play rugby at HEC and I love cycling with my father in the south of France.
What would you say has been the most efficient channel to help spread the word dynamo? Who were your first customers?
Jo: It was actually through PR and word of mouth that people started to know about us. I’d say that’s how we attracted close to 70% of our community. Indoor cycling was a brand new concept and a lot of journalists were curious to try it out. We hired an agency for the launch that got us into a dozen lifestyle and women’s media like My Little Paris, GQ and TV channel France 2. We also partnered with bloggers and influencers.
Nico: Our first members were SoulCycle fans (New Yorkers and former French expats who’d returned to Paris), residents of the local area and our close friends. But I believe our coaches were one of the most important, as they engaged their own communities and made dynamo into a weekly outing with friends.
Is there a brand you’d love to partner with?
Jo : Yes. Calvin Klein! We love how they’ve made the brand evolve over the years and would feel so proud to co-create a collection with them.
Nico : We’re also constantly looking into partnerships with edgy hotels such as The Hoxton and Mama Shelter. We feel it’s a great opportunity for them to offer something unique to their customer base (tourists but also locals) and a nice way to surprise our community with new experiences. The fitness industry is radically changing and it’s fascinating to see how far we can take it. Our approach is holistic, really.
Is that why you started a clothing line?
Jo: dynamo goes way beyond indoor cycling. We’re building a lifestyle brand with a strong identity and fashion was a natural next step for us. With the help of a Paris-based designer, we imagined a collection that catered to our community’s style and values.
Nico: We’re also thinking of launching accessories and further exploring the wellbeing sector: yoga and pilates classes, wellness conferences, healthy snacks… you name it!
Would you want to grow outside of France?
Nico: For sure. The UK market is already well served in terms of fitness and more specifically indoor cycling but there’s still so much room in the rest of Europe for a new player. We’re 10 years behind the US! If and when we go abroad, we’d like to open not one but four or five studios in each city. There are so many operational synergies that can be set up, such as coaches can rotate from one studio to another.
In your opinion, how will the fitness sector evolve in the next 10 years?
Jo: We’ll see more boutique fitness centers popping up everywhere in Europe. I also believe we’ll use technology more and more to track and improve performance. However, we will also be looking to find activities that allow us to disconnect in order to reconnect with ourselves and what really matters: our health.
What is the last book you read which you would definitely recommend?
Nico: For sure La Disparition de Josef Mengele by Olivier Guez (which won the Renaudot prize).
Jo: For me, Abyssinian Chronicles by Moses Isegawa, a book I discovered during a recent trip to Uganda.
Thanks to Chloé Cabantous and Philippe Vella.
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About dynamo cycling
dynamo cycling is a French fitness startup co-founded by Jonathan Garret and Nicolas Chabrier. dynamo brought indoor cycling to France offering a 45 minute full workout that connects the body and soul. Launched in 2015, dynamo has raised 2 million euros in a Series A round with Eutopia. dynamo has today four studios in Paris: Opéra, Boétie, Lafayette and Oberkampf.
For more information please visit: https://dynamo-cycling.com
