The Top 10 FAQ's About Becoming a Studio Pilates Owner
Written on the 13 January 2015
1. What does it cost to get started?
We recommend a budget of approximately AUD $300,000 +GST based on a 100m2 studio. This investment will vary based on which city you're in and the size of your studio. Bigger studios have a larger upfront investment but a higher capacity for more equipment and therefore earn more money. This approximate budget includes your fitout, training, pre opening promotion, legals and equipment.
2. How much profit can I make?
The sky's the limit. Like any business, the better you run your studio, the more profit you will make. If the quality of the instructing in your studio is world class, if you're keeping your expenses low and the revenue coming in, you'll no doubt be successful. Exactly how successful is something no one can determine, it all comes down to how much you back yourself to run your studio and how much demand there is in your area.
3. Can I open multiple studios?
Of course! We encourage this and building up a network of profitable studios is a great way to go. In order to open multiple studios, you will first need to be successful in one before making the jump to two or more.
4. How long does it take from now till my studio is open for business?
It generally takes 6-12 months from first enquiring about opening a franchise until your doors open and you're in business. If you're quick to move through the process and make firm decisions quickly, then it generally takes around the 6 month mark. If you want to take things slowly, you can expect a 9-12 month process.
Be mindful of the fact that Studio Pilates locations get snapped up extremely quickly, so it is in your best interest to reserve your location once you feel comfortable about making the commitment to take things forward.
5. Do I have to find the premises to lease for the studio?
Studio Pilates International assists you with finding premises in Australia. We provide incoming franchisees with a 'site search service' which makes finding a location a much quicker and more efficient exercise. This ultimately sees you getting started in your business sooner.
Our site search service taps into leasing opportunities that are not usually available to the general public. We also may have a location all lined up for you and ready to go which will fast track you into your own studio.
6. Do I have to negotiate a commercial lease myself?
This is another service which Studio Pilates International provides for you, making it easier for you to get into business. A professional with decades of experience in this very specific area acts on your behalf and assists you in obtaining the best deal available. The dollar savings for some studios over the life of the lease has been in the six figures!
7. How do I get my studio set up and actually fitted out?
This is all done for you! We arrange the fit out and build of your studio in the iconic Studio Pilates International style. Our authorised shop fitting partners provide you with the highest quality fitout for the best possible price and this further streamlines your journey into business.
8. I'm no bookkeeper, do I need to do all of the bookkeeping myself?
No you don't. The great new is that we've streamlined and automated this element of the business completely and taken this headache away from you so that you can focus on running your business.
All money received from the sales of classes goes directly into your bank account and all of the boring (but important) bookkeeping is centralised for each location through Studio Pilates International HQ. You have real time, 24/7 secure access to all of your figures from your smartphone, tablet or computer.
You also retain your family accountant for quarterly and year end tax lodgements and advice.
9. How long does it take to get trained?
Allow 4-5 weeks part time to become fully trained. We break the training up into three different elements which take place whilst your studio is getting set up for you by Studio Pilates International. The Pilates instructor training is the largest component of your training. This involves some online pre-course study, followed by six days of practical face-to-face training, and then approximately two weeks of practical work experience in an existing studio.
You also benefit from training in management, local area marketing, administration and operation of the business. This is a 4 day course module with a component of online pre-course study.
10. How do I get instructors to staff my studio?
You simply advertise online with our pre-prepared job ads! Once selected, you put your instructors through our Studio Pilates International Platinum Training Program, which is conducted regularly.
Once your studio is established, you can also advertise this training program to your members. This gets you even more team members who live locally and are super passionate about working in your studio.
We also advertise positions to existing instructors and those who have completed our training courses nationally.
11. Can I see a Profit & Loss of existing locations?
Yes of course. Once an expression of interest/application form has been submitted to us, we can share with you the historical income and expenditure figures for the network