Image via onepeloton.com
When the pandemic hit, those who once religiously attended studio cycling class missed the competition and good workout. Instead, home-based fitness became the norm, which led to a surge in Peloton sales. But with an initial investment of at least $1,500 for the bike, plus $39+ per month in subscription fees, you might wonder: Now that gyms and fitness studios are open, is buying a Peloton worth it?
What Is A Peloton?
While it was first introduced in 2014, the Peloton exercise bike did not gain popularity until the company went public in 2019. Today, Peloton has approximately 2.33 million connected fitness subscribers with an annual retention rate of over 92%. While the company now offers treadmills, strength training, and tons of other virtual fitness videos, the original Peloton bike and its new Bike+ are still its most popular products.
How Much Does A Peloton Cost?
Today, a basic Peloton costs $1,495 without any accessories. Although this is less expensive than a few years ago, it is still a significant investment. The subscription fee for Peloton’s streaming service is $39 a month, which adds another $468 annually. Although Peloton alternatives provide a similar overall experience, the social aspect – including live classes – is one of the main reasons it has become so popular.
Is Peloton Right for You?
If you love indoor-cycling classes, then a Peloton might be a good option – especially if you are looking to be COVID-safe or don’t want the hassle of an in-person studio. Plus, cycling studio memberships can be expensive themselves. Additionally, a Peloton does a great job in holding its value. Even after you stop paying for the monthly membership, you can still use the bike, but Peloton does not provide the program. If you love cycling, can afford the fee, and prefer to work out in the comfort of your own home, then investing in a Peloton might be worth it!
Do you own a Peloton? Share your experiences with us in the comments below!