Ruth and her allegedly lover, Cohn were spotted during outings. Ruth Zukerman is the co-founder of SoulCycle and Flywheel, both wildly successful companies that innovated the studio cycling movement. At the end of the day, thats what we all want. Ruth Zukerman Net Worth What's Ruth Zukerman's mailing address? Ruth Zukerman: Yes, of course. What was it like struggling through that version of success that wasnt your own? That was where my self esteem was. There was a certain respect that the three of us had for each other, respect for each others areas of expertise. After failing at a professional dancing career, she picked herself up and reinvented herself as a force in the fitness industry. I sat behind a desk, which was miserable for me because I was so used to being physical all the time, but I had no other choice. I mean, that was a life-changing moment for me. I saw what it did for me, and I so believed in it that I just wanted to share my experience with everyone else. Leibson: How did you get into group exercise and spinning classes? on 25 August 2022, trading 915,000 units of FXLV stock currently worth $2,406,450. Zukerman, who first founded SoulCycle in 2006 and Flywheel in 2010, is one of these trailblazers. I find winter in the Hamptons just as beautiful as the summer. Would you believe she is in her 50's but looks 30-ish! So in retrospect, when I look back, it made sense that I got so addicted to dancing because it became my way of expressing myself without words, without a voice. 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The boutique fitness industry is booming, and one woman, Ruth Zukerman, has had a groundbreaking role in the growth and change of it. r**** The second anecdote was about another trauma, which was the dissolution of my SoulCycle partnership. Ruth. And I thought, I dont know. I started teaching different genres of exercise. You described some of them. After attempting to make it as a . Presenter: Please join me in welcoming Ruth Zukerman to the GSB. Ruth, thank you so much for being here, for coming to Stanford, being a part of the View from the Top program. We would like to show you a description here but the site won't allow us. There was a reason why I was there. Early life Zukerman grew up in Roslyn, New York to a family of Polish, Russian, and German-Jewish heritage. flywheel ruth zukerman net worthhorse heaven hills road conditionshorse heaven hills road conditions I love to reinforce for people that those are the moments where we get stronger, because failing is part of life. Ruth Zuckerman is 71 years old and was born on 05/12/1951. Mike: But a little bit of disagreement there. I discovered at an early age that fitness and exercise is so key to keeping ourselves calm, controlling our moods, and allowing us to approach our stresses in a much healthier way. So, if I hadnt been there, I guess that never would have happened. The Levain founders are prime examples of that. Little did she know, she basically created a monster in that I just took to it immediately. And I dont even think I answered, and I turned around and started walking out. But also, we have a lot of business school students in the audience now. Mike: Okay. Ruth pioneered the boutique fitness industry by creating the "studio" with a specific, highly curated offering and a pay per class structure, modeling them after the dance studios she would frequent when she was pursuing her dance career. I was insecure and didnt think I could make a life for myself financially. At 51, she co-founded a new business, the highly successful Flywheel, and built the life she'd always dreamed of. And unfortunately, I paid a big toll for that. I wouldnt recommend that. Ruth Zukerman: So, its a good question because its thinking about the future of all of this. Student Question: My name is Laura, also an MBA-1. Required fields are marked *. And the other really key ingredient to success of boutique fitness is the personal connection that we would make with our riders. "A mutual friend spotted Ruth with Marc and called Elizabeth," the insider said. So that was a big scratch-my-head moment. I feel like when you decide to go after something, who you go in with is probably the most critical piece. And I happen to know of businesses that are already in the works where theyre coming up with a less expensive bike which will then allow a business thats more accessible a less-expensive at-home bike as well. I always advise people, you can go into business with someone you just met or you can go into business with someone youve known for 25 years, but they are both risks because when money gets involved, sometimes people take on behaviors that you never could have predicted. And at the moment it fell through, I felt like nothing but a failure. But, no, theres a lawsuit going on. Why is that? I was at Flywheel through the acquisition in 2014, and I left in 2018. A lot of times when things dont pan outits when weve least predicted it and were often blindsighted. And again, there was something about this that allowed me to recognize that this was the way I was going to do it. Earlier this year, Flywheel lost a major legal battle to its competitor. Have the courage to say, This isnt working and its time to figure out whats next. Its not easy, but thats where resilience kicks in. You can find her LinkedIn profile here, twitter here. And Elizabeth, one of my cofounders, came up with the idea of just putting this rickshaw outside, painting it yellow and putting the name of our business on it to attract attention. And now 15 years later, you have a company that just went public saying, You know what? Tricky, right? And its this beautiful full-service gym that offered every kind of group fitness you can imagine swimming pool, basketball court, really incredible place. You described a very close relationship with your father who passed away from cancer. Mike: When I wrote these down, I actually couldnt remember who said what, so I had to go back. All of my parents' friends were physicians in the medical community. (adsbygoogle = window.adsbygoogle || []).push({}); And we learn an enormous amount with every decision we make along the way. Eventually, the partnership didnt work out. I have to say one thing first. Ruth Zukerman, Co-founder of indoor cycling businesses SoulCycle and Flywheel Sports and author of the book "Riding High: How I Kissed SoulCycle Goodbye, Co-Founded Flywheel, and Built the Life I Always Wanted", joins Socialfly Co-founder Courtney Spritzer in the MouthMedia Network studios for a conversation about building her company and . I think a lot of us, an ideal state would be to go to [Spain], [unintelligible] core power [berries] a few times a week, Peloton at home. When the girls were six years old, I made the very difficult decision to leave my marriage. Ruth Zukerman: Wow. Where is there space for innovation if at all? Town Sports has . Ruth Zukerman: Yes. Ruth Zukerman used her heartache-at the death of her father, the end of her marriage, and the dissolution of her first business partnership with SoulCycle, as the inspiration to reinvent herself. Yeah. And I just felt like this was taking it to the next level. Ruth Zukerman, co-founder of Soulcycle and Flywheel, joins 'Squawk on the Street' to discuss the rise of virtual workouts and how the pandemic could solidify the approach long term. But theres also a business nugget where they felt that you could actually grow the business by attracting folks who otherwise wouldnt be cyclers or spin-goers. I needed a salary. Multiple sources claim the songwriter Cohn famous for his Walking in Memphis and has been married to Vargas since 2002 bedded Flywheel Sports chain co-founder. "Riders loved making a morning of it. Im leaving. What do you mean youre leaving? So that was really what I drew upon the most in terms of my leadership style. A Long-Island native, Ruth had no exposure to business growing up. Employees at Flywheel Sports rate Ruth Zukerman higher than employees at Orangetheory Fitness rate Dave Long Ruth Zukerman: One of the cofounders approached me with the idea. Ive accomplished everything that I ever set out to do and have enjoyed my life fully. And then you respond by saying that, In that moment, as much as I couldnt help feeling my own sorrow, I was also inspired by his courage and his resolve.. And I went out there to see what I was going to do next. I like to share with people that going into business, I had absolutely no business experience, and I was raised in a family of physicians and surrounded by my parents friends who were all from the medical community. Ruth Zukerman: Great question. Ruth Zukerman: I have been going out to the Hamptons for 22 years. In terms of entrepreneurship, I think it's something in our blood because we get passionate about ideas and we want to see them through. [Laughs] We were very big on empathy. Duh. I think theres something to be said for putting off having a family to a certain degree, because its so important to go through your own evolution, building self confidence, and achieving some degree of success before you start a family. At what point did that start to happen where people would share with you that type of reaction? And I always say, I probably grew gray hair every single day, and it was torturous, and it never got any less torturous for two years. Were seeing whats happening with the industry. Mike: If its all right, can we just jump right in? In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . It would be very hard to build any kind of confidence. So it really meant I would have to go back to one of the big box gyms and teach classes for 40 bucks a class. Its so therapeutic and amazing. And I was clueless as to what I was going to next. If I was in a dance class, and my dance teacher said, Beautiful job, Ruth, that took me through my day. So again, everything happens for a reason, as trite as that is, but it really does. What does the audience think? Ruth Zukerman: Honestly, Im looking forward to the rest of my life and everything thats happened thus far, everything that that will afford me in terms of my experiences. Open yourself up to the possibility that the best part of your life hasnt happened yet. Plato or SoulCycle? Originally a dancer with a strong passion for music, Ruth choreographs her classes and makes the music integral to the movement. Its like my church. We cant give up, and we have to move forward and go on. She started going to indoor cycling classes shortly after her divorce in 1996 and fell in love with it. So in a spin class, if you point out someone in the class, if you make that personal connection, theyre coming back the next day. And I used to see these spin classes going on. And is that okay for a brand to fill that void? I think its important to have that experience under your belt before you become a mother or a father. And so I looked at how I raised my children and what my style was in raising my children. And when I say that, what I mean is I was obsessed with music from an early age. Contents. This venture didnt work out, and its a painful next two years. Did you ever think about what life could have been had you not taken that risk? Weve all had a lot of challenges growing up and in our adult life. Youre paying up for it, and youre paying for an instructor spending two hours the night before making his or her playlist. They were pre-submitted. Ruth Zukerman used her heartache-at the death of her father, the end of her marriage, and the dissolution of her first business partnership with SoulCycle, as the inspiration to reinvent herself. When I was going through the divorce and the trauma that goes along with that, I started taking spin classes. This week, I sit down with Ruth Zukerman, Creative Director of boutique cycling favorite FlyWheel Sports. [Laughs] And it happened right away. I got out there, and here I was now a single mom of two girls in high school, not in a very strong position financially. Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. Ruth Zukerman discovered spinning at a difficult crossroads in her life, and she was thrilled when it turned into her next entrepreneurial endeavor: opening her own spin studio. I felt that in the 45 minutes from beginning to end there was almost a mini transformation. Everybody has problems and challenges in their life. A source told us the affair came to light when Cohn and Zukerman were spotted dining together at a restaurant just after Vargas left rehab. Our separation agreement was signed, and I was packing up my things to leave. I think I would answer that by, again, going back to the empathy piece. I did, and in that period of time, 40 minutes, I knew this was going to be a game changer, because I could still do the mindful part and have the numbers. She is. As far as products go, someone recently gifted me with a Theragun. Ruth Zukerman is the co-founder of Soul Cycle and Flywheel, both wildly successful companies that innovated the studio cycling movement. I made this difficult decision to leave the marriage, 6-year-old twin girls in tow. And what Ive learned is that I think of it as a muscle because it fortunately gets built every time we have a setback or every time we feel like weve failed at something. And again, completely unintentional, but it took on this kind of cool factor. With the amount of choices out there which you just spoke about, its very different. Mike: Do you remember that conversation you had where it all of a sudden started to come together with your cofounders at the time or your would-be cofounders in starting SoulCycle? According to Page Six, the TV anchor and her husband who are parents of two children were friends with Zukerman before becoming regulars at her Flywheel spin classes. Ruth Zukerman used her heartache-at the death of her father, the end of her marriage, and the dissolution of her first business partnership with SoulCycle, as the inspiration to reinvent herself. I got off the bike at the end of the class and felt empowered and felt that I could really conquer my day and the challenges that presented themselves. For the entire time I was at SoulCycle and Flywheel, we never advertised once. And very quickly I realized everybody has trauma. The most recent stock trade was executed by Lewis Management Lp Kennedy. And it helped us in terms of the culture we built with our employees and with our customer base. Ruth Zukerman: Well, Im going to give John Foley a shout-out, the founder of Peloton. Mike: An interesting counterbalance to that is you describe that empathy should be in moderation when going forward in business, which also runs counter to a lot of the things we hear about, especially today. Youve got another hour of these. Weve all been through traumas, you know? Its a lot of pressure. You describe a moment where in your first center, I believe, they wouldnt allow you to put signage on the outside of the street entrance. I think for everyones sake, in terms of how we interact with others, as well as how we handle our own day-to-day stresses, we cant burn out. Mike: Can you talk a little bit more about partnership? After two years of some brief stints with some modern dance companies that paid nothing, I realized I had to shift gears and it was my first fish-out-of-water moment. But we put so much pressure on ourselves in thinking that we should know the answer, and we dont. Ruth Zukerman is the Co-Founder of SoulCycle and Flywheel. My self esteem plummeted. Mike: Just between us friends here in the room. Mike: Plato. It just showed me the importance of confidence and believing in myself and believing in my ideas, that my mother really didnt know everything. But it worked. And its something Im currently actually thinking a lot about because theres no question. Work Out! Exercise And Pain: Whats Normal? Exercise Tips For Every Age 10 Ways To Stay Motivated To Work Out The Truth About Indoor Cycling. 1 Early life; 2 SoulCycle; 3 Flywheel Sports; 4 References; . The bride's father is a founder and senior partner of the Manhattan law firm Zukerman Gore Brandeis & Crossman. Student Question My names Dan App. A second source added, "It was disgusting that he was with Ruth while Elizabeth was in rehab." And every day I walked in to teach class, I would have to look at both of them. And so thats why I think this type of business is so important and here to stay. Its not a choice. Theres no question that people are waiting longer these days. Thats amazing. Besides that, I love Splits59 and Lululemons Align Leggings. So, again, customer service is huge. Lets bring you back into your basement and take you away from the very thing that you describe people seeking, which is community. Is that here to stay? Mike: Have you ever done a class for 600 people? I really hadnt done that kind of exploration. I think thats always an ongoing challenge. I think the comforting piece of it is that every decision we make as we evolve and grow up actually does play a part in where we ultimately land. There are Flywheel folks in the audience. Zukerman left SoulCycle in 2009 and started Flywheel the following year. My question was around the therapy topic you mentioned. Mike: And you describe a scene where you were at his bedside, and he said to you that, and I quote, Im ready to go. Sheila shares an early investor with Interos, Nick Beim! Obviously, that was a huge learning lesson for me, a huge light bulb moment for me. Ruth Zukerman is co-founder of indoor cycling businesses SoulCycle and Flywheel Sports. I love that book. By doing that, everybody has this desire for the business to be successful, and thats what you want. And you had to know someone to know that it was there. You want everyone to be as motivated as you are as a founder. And really, to a certain extent, what I did was I just transferred that experience onto a bike. They approached me and said, How would you like to do this with us? And I said, Done. I loved it. Thanks so much for your time. Check Background Get Contact Info . Pin. And the truth is I used a lot of qualities that are typically attached to women, and empathy is certainly one of them. Mike: So we have one last thing to do, which is somewhat of a tradition here called the Lightning Round. Im sure youve all read about it, and its part of the reason for their success. Lastly, it was the summer of 2009 where I was teaching a SoulCycle class, and it was then that I met my future cofounder of Flywheel. Mike: What was going through your mind as the next step personally and then professionally it seems like would follow later? She recently authored Riding High: How I Kissed SoulCycle Goodbye, Co-Founded Flywheel, and Built the Life I. Ruth Zukerman Entrepreneur, Co-founder of SoulCycle and FlywheelSports, Speaker at BrightSight Group, Author of Riding High After her 1996 divorce, the former dancer and aerobics instructor felt lost and took to the Spin bike. Ruth Zukerman and Sadie Kurzban, founders of Soul Cycle, Flywheel, and 305 Fitness, will discuss their origin stories and how women can achieve success and build economic security in any industry. They didnt have to wait in line to get shoes. And it wasnt until therapy in fact, my first therapy session ever where I sat down and my motivation was my father was dying, and I had no idea how I was going to go on with that. Ruth Zukerman: I mean, it was part generational I would say for my mother. Ruth Zukerman: Yes. Ruth Zukerman's path to entrepreneurship was nothing if not unconventional. Sometimes I think about the fact that my two cofounders of SoulCycle are two women who I didnt know for a long time. We all experience stress at different levels and some days are better than others. Meet Co-founder and Creative Director at Flywheel Sports, Ruth Zukerman. Last one. It launched in 1978 and is supported in part by the F. Kirk Brennan Speaker Series Fund. So when I say generational, what she meant every year when she wrote these cards was, I hope you find a man.. Interestingly, when I started Flywheel with two men, the dynamic was completely different. The rest, as they say, is history. With SoulCycle and Flywheel, I was in a classroom last week that had a very interesting discussion around the place in society for brands that make you feel a certain way. And they didnt know what happened, and that helped a little bit. Simultaneous to that I had twin girls, and my marriage from very early on wasnt working. Marc Cohn has denied having 'a so-called "affair"' with Flywheel Sports co-founder Ruth Zuckerman. According to NY Post-Page Six, ABC anchor Elizabeth Vargas husband, Marc Cohn, had an affair with Zukerman while Vargas was in rehab for alcohol abuse. And Im a huge proponent of therapy. Again, no judgment here. If I looked at myself at 42, I never in a million years thought I would start my own business. But they have built a huge community at Peloton. Ruth Zukerman: Of course, I said all of these things. The company has expanded across the country into South Florida, Chicago, Atlanta, Charlotte, Los Angeles and more. And to summarize it, I would always talk about SoulCycle eventually becoming a very exclusive feeling, having a very exclusive feeling, while Flywheel had a very inclusive feeling. Ruth is the author of Riding High: How I Kissed SoulCycle Goodbye, Founded Flywheel, and Built the Life I Always Wanted. Im an MBA 1, and I have been to both SoulCycle and Flywheel many times. On average, F45 Training executives and independent directors trade stock every 17 days with the average trade being worth of $4,214,916. Health and wellness I think will always be a huge industry moving forward because of the challenges we all have in life in general, and people are finally starting to recognize that we need to take care of ourselves. Ruth Zukerman: It really helped me realize how much strength I needed to build. Manage Settings Your email address will not be published. Why were those the right times to start companies and were there any learnings from timing in your life? When I started SoulCycle, we decided that people should applaud after the class. Her mother is a co-founder of Flywheel Sports, an indoor cycling business; she is . Ruth Zukerman never imagined starting a company. As far of the whole notion of doing it all and how do you find that balance? At 51, she founded a new business, the highly successful Flywheel, and built the life she'd always dreamed of. Customer service in general was huge and is huge in this field and in this industry. I get frustrated sometimes because women need to support women always. She recently authored Riding High: How I Kissed SoulCycle Goodbye, Co-Founded Flywheel, and Built the Life I Always Wanteda refreshingly authentic and spectacular memoir about realizing your own potential and building a fulfilling life. So that kind of really spelled out my future. Co-founder Ruth Zukerman was on Fox 5 DC's Good Day D.C. morning show with Holly Morris FOX 5 DC to dish the best tips to get fit -- check it out! I was there until 2009. You may opt-out by. Mike: Right before meeting the would be founder of Flywheel, was there a moment? Well just leave it at that. That has to do with not only making people feel good, but making everything easy for them. There are people in all of our lives where they demand something that we feel we have to go uphold. Ruth pioneered the boutique fitness industry by creating the "studio" with a pay per class structure, modeling them after the dance studios she would frequent when she was pursuing her dance career. Ruth Zukerman: Sometimes it can get you into trouble. Get premium, high resolution news photos at Getty Images Holly Rilinger, Ruth Zukerman attend the Flywheel VIP Ride With Special Guests Laird Hamilton And Gabrielle Reece Led By Ruth Zukerman And Holly Rilinger at Flywheel East Hampton on August 8, 2016 in. You described Flywheel as your first true business venture. The bottom line is obviously theres no guarantee ever. Here are some highlights from our conversation: Hayley Leibson: For Forbes readers that haven't yet read your book, can you please give an overview of your background? Flywheel has filed for bankruptcy. I was actually really impressed and surprised by it. And I was able to keep my gym membership with the divorce, and so I went there every day. Mike: So you start SoulCycle and, plot twist, it works. Mike: Anytime. Ruth Zukerman is the original co-founder of SoulCycle and Flywheel, both wildly successful companies that innovated the studio cycling movement . How do we see our future?. I was approached about opening a dedicated boutique spin business by a rider fan of mine who had come to my class and she was willing to put up the money, something I didnt have. Tap it back.. According to Page Six's secret sources, Marc was spotted with Ruth Zuckerman, co-founder of Flywheel in NYC. The boutique industry is really not very accessible to everyone. Courage is knowing what not to fear. Plato or SoulCycle? What was it like even in a household in your relationship with your mother trying to fit into someone elses definition of success on such a personal context? But you also cautioned to use it in moderation. Ruth Zukerman: No, because that question brought this to mind. And that really started my ball rolling in terms of not only leaving the marriage, but starting to really learn about who I am and who I was. I had the confidence after having built my spin class for the past five years, I knew that I was on to something. You talked about how important it was to help your clients feel noticed and important and like theyre a part of a community. Its 2019, and probably a year ago, I sat in a therapy session, and I said to my therapist, Is there something wrong with me? Since then, Ive been doing speaking engagements around my book, Riding High, and figuring out whats next for me. Unlike SoulCycle, Flywheel makes it possible for members to track their performance by displaying their score on a. And they were two people that my kneejerk was to defer to them, to really let them overpower me and to not have a voice. I think people will always need this human connection that I just spoke about. I still get really upset and angry when I think about it. All right. The Women Of Roblox Are On A Mission To Make Gaming A Force For Good, ChatGPT: Thinking Outside The Content Marketing Box, How Latina Entrepreneur Corina Burton Once Failed, Then Launched A Multi-Million Business, Child Sexual Abuse Survivors Pen Their Own Justice, Women Have Found A Powerful Way To Form Authentic Connections In Business - Mentoring Walks, Sephora, A New CCO And A Celebration Of Latinx Roots: Babba Rivera Is Building A Haircare Empire With Ceremonia, 5 Ways To Bounce Back After Getting Laid Off, Greenlight For Work Tackles Top Source Of Stress For Working Parents. The CEO of Bonobos shares stories of the companys creation at the GSB and his journey through a mental health diagnosis. What did you feel like you could do different in a space that you defined and built already in now what would be a competitor? I learned a lot about what people did and didnt like and I honed my own method within this genre of exercise. Mike: Right after this, meet in the quad. When I was approached about this idea of opening SoulCycle, I was more than ready and the opportunity was right. In August 2019, Flywheel Sports closed 11 of its locations due to mounting competition with at-home cycling products, such as the Peloton bike.