How much do Pilates studio owners make?
According to a number of income surveys, such as US Ziprecruiter, successful gym and Pilates studio owners can make well into six figures a year. Business savvy owners with a profitable studio can go on to open multiple studios, enabling them to multiply their earnings.
Of course there is huge variability depending on many factors, but like any other business, the better you run your studio, the more profit you will make. If the quality of the instruction in your studio is world class, and if you’re keeping your expenses low and the revenue coming in, you’ll enjoy success and earn good profits. It comes down to a combination of a well run business and sufficient demand.
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. However an owner manager can run two or even three studios, increasing the level of opportunity for profits.
Knowledge of business, finance, and marketing is just as important as a love for fitness if you want to run a successful boutique fitness studio. This industry is intensely competitive. So if you want to increase your chances of profitability and reduce the time it takes you to get there it may be better to consider a franchise.
The benefits of a Studio Pilates Franchise compared to running your own independent studio is the brand itself, the proven business model and the methodology for success. Franchisees really value the level of professionalism, and the support they receive across all aspects of the business such as: operations; training; finance; marketing; HR; class and package pricing and booking; programming; education; technology.
How long before I make a profit?
This very much depends on how much time and energy you want to put into your business, but in our experience many Studio Pilates franchisees make a profit within the first year. One of the advantages to investing in a franchise rather than going it alone is the access to comparative data as well as being able to learn from other people’s best practice. Once you have signed a franchise agreement we are able to share comparative performance data so you have a much clearer idea of what to expect and what to aim for.
What is the outlook for the fitness industry?
Over the last five years the Fitness industry has grown globally and is now one of the world’s largest and fastest-growing industries. Growth has been partly fuelled by innovations in technology and connectivity, but also by an increasingly health-conscious audience. Additional factors have been the influence of social media and the popularity of health and fitness culture, and more personal disposable Income.
Despite the negative effects of the COVID-19 pandemic, the Pilates and Yoga Studios industry is anticipated to recover rapidly, (IBIS report 2021) and all the signs suggest that the fitness industry will continue to grow.
Read more blogs about opening a Pilates Studio here.
To find out more about the benefits of a Studio Pilates Franchise click the link below.
