Studio Pilates Still Breaking Revenue Records Despite Current Economic Climate
Despite growing pressures around the current economic climate including rising interest rates and the increasing cost of living, Studio Pilates International is continuing to thrive, generating a huge increase in revenue, clients and profits, most recently seeing a whopping 108% increase YOY for our annual VIP sale.
While some fitness franchises are really feeling this economic impact, with some well known names even collapsing or going into liquidation, Pilates is not only surviving - but thriving amidst the mindful fitness boom, and shows no signs of slowing down anytime soon.
In September 2022, ClassPass named Pilates as the fastest growing exercise genre in Australia & New Zealand following a 250% growth in Pilates class reservations in the previous 12 months. Due to its increasing popularity, which shows no signs of slowing down, Pilates is expected to experience a compound annual growth rate of 10% between 2021-2028.
Since 2019, Studio Pilates has seen a 149% increase in the number of class visits resulting in a growing demand for new studios to open. For this reason, many people are choosing to cash in on the growing profitability of Pilates, by investing in a franchise such as a Studio Pilates studio by either pivoting their careers or simply using it as an investment.
One of the most unique points of difference about the Studio Pilates franchise business model is the focus and strategy around client retention, which is the key to supporting sustainable long term growth and maximising profitability. This is done through a number of different mediums, including challenges, community based initiatives and sales, including our annual VIP Sale.
The Studio Pilates VIP sale - which is an annual sale that’s only valid on 100 class packs - saw a staggering 108% growth in revenue YOY with the average number of packs sold per studio also increasing by 12%. This is true testament to how passionate and committed our loyal Studio Pilates clients are, and as a franchise business, client retention is one of our most important strategies.
So if you’ve ever thought about investing in a profitable and sustainable Pilates franchise, there’s no better time!
For more information on franchising opportunities with Studio Pilates International, please contact John L Scott, Director of Franchising john@studiopilates.com.
