Are Pilates Studios Profitable?
So, you’ve decided to start your own business, and want to turn your passion for Pilates into your day job, but there’s one vital question remaining before you take the leap. You really need to know: Are Pilates studios profitable?
The short answer is Yes. Pilates studios can be highly profitable when the right type of workout experience is combined with great value for money, and the studio is located in the right area or neighbourhood.
Health and fitness is a large and growing market. We have seen the global rise of boutique fitness centres over several years, as more and more consumers move away from the traditional gym scene and gravitate towards alternative workouts, such as Pilates studio classes. According to reports*, in the USA alone, the fitness industry generated over $10 billion annually with revenue growing at a rate of 9.2%. And Pilates classes accounted for almost 20% of that revenue.
Several variables determine the profitability of a Pilates studio. The largest of these is who is operating the business, their knowledge and business experience, and the quality of instructors involved in delivering classes. This, coupled with rental costs and wages, all factor into profitability.
The good thing about running a Pilates studio is that once it has been built and the Pilates equipment has been purchased (Pilates reformers etc), there are minimal overheads and operating costs, as most studios are purely service-based. This means there is no costly inventory to factor in.
If the owner of the business is the primary instructor in the business, then labour costs are negligible, further increasing the profitability of a Pilates studio.
Great systemisation in a Pilates studio business is essential. Systemisation can often be found by buying into a franchise network, as it often takes many years to learn what works and what doesn’t when it comes to business.
If you’ve ever thought about opening a profitable Pilates studio, then consider investing in a Studio Pilates franchise. With exclusive territories on offer, full business systemisation, comprehensive training and marketing plans and resources, a franchise provides a fast-tracked approach to profitability and business success.
Studio Pilates Franchisee Julia Clarke started out with her own studio, before making the switch to a Franchise network. This is what she had to say:
With a Studio Pilates Franchise, all the issues have been thought through and sorted for you, and I really enjoy the order and structure - everything looks and feels very professional, just how I like it.
I really don’t know how people open a studio of any size without help, you can’t do everything yourself and I imagine the operations side would be quite daunting - the booking software, class and package pricing, programming and so on. And setting up a website, running social media and promoting your business is quite difficult and time consuming when you’re on your own, whereas centralised Marketing is so much easier.
You can read more about the benefits of joining a network here. Or read more blogs on opening your own Pilates Studio.
Or to find out more about a Studio Pilates Franchise click the link below.
*Source – IBIS World – Pilates & Yoga Studios Industry Report 2019 USA
