Q&A with Marie Kloor, Co-Founder and CEO and Dan Nielsen, Co-Founder and COO of Hydra Studios

Marie Kloor and Daniel Nielsen co-founded Hydra Studios, a network of membership based wellness spaces. Marie worked at Goldman Sachs from 2010 to 2015 in the firm's Consumer and Investment Management and Operations Divisions in New York and Salt Lake City. Daniel worked at Goldman Sachs from 2009 to 2012 in the firm’s Operations Division in Salt Lake City.

What is the inspiration around Hydra Studios and what sparked the initial idea?
MK: The initial idea was actually sparked by my time working at 200 West. Like most professionals, I was trying to fit a lot into each day – work, fitness, client events and social gatherings. I used the gym and locker space at 200 West as a second home base – getting ready there after morning workouts, storing items during the day and changing before events in the evening. When I left GS to work at a start-up, I realized that employees at smaller companies didn’t have access to these types of amenities. Our goal is to make every day wellness more accessible by providing convenient amenities.

What wellness offerings does Hydra Studios offer and what is the customer experience like?
DN: We have private, reservable fitness suites with Pelotons, MIRRORs, TRX and weightlifting equipment. We also have suites that can be reserved for meditation or a just quiet place to recharge. Each suite is cleaned before and after each session and outfitted with HEPA air filters. Our locker rooms feature infrared saunas, steam rooms, vanity stations and curated products from some of our partners like Malin + Goetz, Brooklinen and Blind Barber. We also have an experiential retail area with a selection of predominantly sustainable products from female-founded companies. Eventually, we’ll start doing semi-private fitness, wellness classes and events in our studio space once COVID allows.

How do you select your brand partners?
MK: We source products based on quality and sustainability. We also like to carry emerging brands that our members may not have discovered. I have met a lot of great female founders while starting Hydra Studios, so it’s a plus if we can bring their brands into the studio.

Where are your studios located? Do you have plans to build new locations or launch new product offerings?
DN: Our first studio is at 530 Fifth Avenue and is exclusive to members of Convene, a co-working and event space. Our flagship studio is at 120 Wall Street and is open to the public. We’re looking at additional locations in NYC, and eventually nationwide. Our goal is to create a network of studios.

We’re also considering a few different verticals, including opening locations in healthcare centers and residential developments.

How does your pricing work? Do you need to be a member to use the Studio or can you come for à la carte classes?
MK: Both. You can book a day pass or become a monthly member with unlimited access. We’ve found that we have a high conversion rate to membership once people come into the space.

How has Covid-19 influenced launching your business and how do you think the pandemic will change the way people think about health and wellness in the future?
DN: We had just broken ground on the flagship studio in March when COVID-19 hit. We had to pause construction and close our first studio. We used the time to think about how we could reposition our business to address the pandemic. Ultimately, we believe there are two major trends happening in the wellness space – a shift from communal classes to small or individual workout sessions and an embracement of connected fitness devices. By pairing private suites with a selection of connected devices, we feel we're in the center of both of those trends and hope to create a new standard for wellness in the post-COVID future.

Congratulations on recently raising $3.8M in funding for your wellness spaces. How do you plan to use the capital?
MK: This capital is going towards launching our flagship studio on Wall Street, hiring in operations, marketing and community and eventually expanding our network of studios.

What lessons did you learn at Goldman Sachs that helped you become successful entrepreneurs?
MK: Goldman Sachs taught me how to hold myself to high standards and take ownership over work, no matter how big or small the task. My experience in Operations made me detail oriented and eager to roll up my sleeves and problem solve. My role in Sales taught me how to run meetings, drive the point home in a presentation, create sales pipelines and close deals. These lessons, ultimately, helped us raise capital to launch our business.

DN: Goldman Sachs instilled a sense of urgency and attention to detail. No matter what the task or project, menial or large, you execute and deliver. The environment and culture prepared me to communicate a clear vision and create a roadmap for execution, which ultimately is the foundation for raising capital and running a business.