Peloton has officially announced the One Peloton Club, which is a way for new members to essentially rent a Peloton Bike and bundle the cost of the Bike with the monthly subscription fee. In their terms, Peloton describes the new program as “The One Peloton Club (the “Program”) allows you to rent a Peloton Bike for your home.”
Following this morning’s report from the WSJ about the new program, Peloton launched a new landing page with additional details, describing the program as “a new way in.” The announcement promotes the fact that for the first time ever, new customers can acquire a Peloton Bike without the high upfront costs and long-term commitment, and will have the ability to cancel at any time:
Join One Peloton Club, and get your entire household access to the Peloton Bike and our complete library of live and on-demand classes. Enjoy a variety of workouts—from cycling and strength to yoga and boxing—for one low monthly payment and zero commitment. You can cancel anytime. We’ll even pick up your Bike for free.
The One Peloton Club is launching at nine Peloton showrooms to start out, located in Florida, Texas, Colorado, and Minnesota. Customers must live within a 30 mile radius of these showrooms in order to qualify for the One Peloton Club. The full participating showroom list is below:
List of Peloton Showrooms with One Peloton Club
- Florida: Aventura, Coral Gables
- Minnesota: Bloomington, Edina
- Houston: Highland Village, Houston, Market Street
- Denver: Denver, Lone Tree
A closer examination of the terms and conditions of the One Peloton Club illuminates some interesting details:
- The One Peloton Club is only for the original Peloton Bike and does not (currently) apply to the Bike+ or Tread.
- Customers must join the club in-person or via phone at one of the participating showrooms.
- There is a one time, non-refundable delivery fee of $250 to begin the program.
- Upon joining, each member will enter into a One Peloton Agreement, which can be canceled at any time.
- Upon cancellation, members will need to schedule a time within 30 days for Peloton to return and pick up the Bike. The member will also lose access to all Peloton content at the end of the monthly period at which they canceled. If the member does not schedule a time for Peloton to pick up the Bike within 30 days of cancellation, they will continue to be charged their monthly fee.
- At any time, members can purchase their Peloton Bike, otherwise known as a buyout. Members will be able to determine their buyout price in their One Peloton Club agreement.
- Peloton will honor the Limited Warranty for the Bike for the duration of the term set out in the One Peloton Club agreement.
- The offer is not open to current members, or members who have had an All-Access membership in the past year. Though not explicitly stated, it appears the offer is available to current App (digital-only) members.
Peloton will be experimenting with pricing options and the monthly membership rates for the One Peloton Club will range from $59-$99 per month depending on the city & showroom.
You can also sign up on the One Peloton Club landing page to receive an alert if the One Peloton Club is coming to a showroom in your area.
The Wall Street Journal first reported that Peloton would begin testing out a new pricing structure in select showrooms on Friday, March 11.
Until now, renting a Peloton Bike has not been an option for customers. The next best thing is the At Home Trial, which provides customers a full refund on their device purchase if they wish to return within a 30 day window. Earlier this month, the At Home Trial was extended to 100 days for a limited time.
Depending on how many returns Peloton gets from the One Peloton Club rental program, this might give Peloton the inventory to launch a certified pre-owned program as they previously discussed.
If you live near one of the participating One Peloton Club showrooms, will you be exploring the option to rent a Peloton Bike?
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