CRNK was on the verge of closing after COVID-19, but this duo took over the business & revived it
When American pop sensation Taylor Swift was running her Eras Tour concerts last year, many businesses jumped in to cash in on the hype—including spin, or rhythmic cycling studios.
From the US to the UK to Singapore, multiple spin studios offered themed Taylor Swift classes, curating playlists for fans (famously known as ‘Swifties’) to break a sweat to. As a matter of fact, the Swiftmania was so overwhelming that a subreddit thread was created for non-fans to rant about it.
Nevertheless, the crowds did not stop flocking to spin studios to shake it off, and CRNK (pronounced ‘crank’) was one of the businesses that benefited—and continues to offer Taylor Swift- and other-themed classes long after the hype.
Little did I know that this seemingly minor detail was what set this studio apart in a competitive fitness industry. Vulcan Post sits down with Andrew Khoo, the co-owner of CRNK, to find out about their story.
Surviving amidst fitness exodus
CRNK was founded in 2021 as a sister brand to fitness collective boOm Singapore, which was then famously known for its group boxing classes. Andrew was teaching boxing and spin classes at both establishments, along with his wife, Jenell Khoo, and longtime friend, Ivan Ngo.
However, the spin studio launched during a tumultuous period for fitness establishments in Singapore: COVID-19 prevented people from going to the gym, and even when they could, they were limited in number and masked.
These businesses had to adapt to the new norm and push through, but some, including boOm Singapore, were unable to survive the aftermath of the pandemic and shuttered in 2023—inevitably leaving CRNK on the verge of closing down.
Having witnessed the high stakes of the industry, Andrew candidly revealed that he had no intention of renting and operating a physical space. “I thought it was a stupid idea, and I thought you would definitely lose money, and it’s a slippery slope.”
Nevertheless, he still believed he could turn things around for CRNK, and, together with Jenell, bought the business in early 2023. The duo made it a point to run it on their own terms and at their own pace.
“We never wanted to have an investor because we didn’t want anyone to have a say in what we did,” explained Andrew. “With any business, there are a lot of moving parts, and we kind of believe that if someone has a say over those moving parts, it makes it quite difficult to run things.”
As for their business plan? It was to meet where their customers were. Overpriced packages in an economy where people are more conscious of their spending is suicidal, and the couple wanted to provide the best value for their customers.
Take CRNK’s unlimited monthly ride subscription, currently priced at S$200 per month, for example. A regular who goes for spin classes thrice a week would pay less than S$17 per class, which, in all honesty, is pretty reasonable.
“I cannot expect them to pay more for my spin class than they would pay for a meal for their child,” added Andrew.
In addition, all spin lessons at CRNK are themed around different music artists and concepts, such as Disney and 2000s boy bands. While multiple spin studios have offered such classes, they are mostly held occasionally. CRNK claims to be the first business to have all its classes themed from day one.
“They won’t know who Andrew is, but they’ll know who Taylor Swift is.”
Another unconventional move they made was offering unpopular timing options and running at higher frequencies. Andrew explained that most studios would only run classes from 9AM to 1PM on weekends, but CRNK offers classes until 5PM. They also offer classes that run past 9PM on weekdays to accommodate parents who want to work out after putting their children to bed.
“Singaporeans are very, very, very busy people, and 50 minutes is a long time in Singapore’s economy. We made sure that if you gave us 50 minutes, we would give you a banger of a 50-minute class and and you will burn the most calories in 50 minutes.”
CRNK also relied on word of mouth to grow its presence, even when numbers were discouraging. Andrew shared that they started with 15 spin bikes at their East Coast Road studio, and would have only two or three people coming for class.
“It would feel sian,” he admitted. Nevertheless, the team at CRNK continued conducting those classes so that those people would leave a strong impression and bring their friends and family to their next classes.
Never gone in the red since they took over
And it worked: the number of visits soon increased, allowing the team to increase its East Coast studio capacity to 27 bikes. CRNK eventually expanded to New Bahru in Sep 2024—which houses 50 bikes—and Clarke Quay in Jul 2025.
The business has also started offering classes beyond spin, first with strength in Oct 2023, followed by Reformer Pilates in Jan 2025, and most recently, HYROX, this Jul. Though he declined to reveal any numbers, Andrew shared that the business broke even one month in and has been profiting since he and Jenell brought it over.
“There are months that we are thriving. There were months that we were surviving, and to us, that was fine. As long as we don’t go in the red, I would like to think that’s thriving.”
While more fitness forms and classes were introduced due to increased consumer demand, the team had to adopt a more grounded mindset to ensure they made financial sense.
“I think a big part of this is we understood that this is a business before it is fitness,” Andrew candidly shared. “We pivot very fast, and when there are things that are not working, we close them down quite quickly, and vice versa.”
This was the case for their strength classes, which are no longer offered, and they pivoted to reformer pilates classes instead. Aside from the fact that it hasn’t made money, Andrew admitted that he was stretched and didn’t have time to focus on it at that point.
“You can have the best program in the world, but if you don’t have money, you will shut down. It is an unfortunate truth.”
But this setback did not discourage Andrew; instead, it also gave him an opportunity to open up business opportunities for all his instructors. Take RANK by CRNK, the business’s HYROX gym, for instance. It’s run by Chloe Ng and Cheryl Sim—two of CRNK’s instructors—and Andrew, as the business owner, gets to take a portion of the profit earned.
“Basically, it creates a little ecosystem now in CRNK where they can then run it,” he shared, adding that this can help expand the business while still keeping their team lean and profitable down the road.
“My confidence to them is that anyone who joins me will win, and we’ll win together. That’s where I provide very attractive deals, and we can cut a deal together where they get to run their business at a very low risk, in that they don’t have to leave their job to run it.”
Beyond fitness, CRNK is also in talks of doing an activewear line and a cafe where sober parties and coffee raves can be held, though the latter has taken a backseat.
“By 2026, we’re coming back strong again to offer new drinks, DJ sets, and all that stuff,” shared Andrew, who also expressed his interest in opening up similar opportunities to riders and participants, and some discussions have been had.
- Learn more about CRNK here.
- Read more stories we’ve written on Singaporean businesses here.
Featured Image Credit: CRNK