So, how much does it cost to open a Pilates studio? The cost to open a Pilates studio can range from $50,000 – $500,000, it all depends on how big you want to go!
If your approach in life is to ‘go big or go home’ and you want to create a business that can potentially earn up to $1,000,000 pa, then you’d be looking at the higher end of this scale. You’d have a space in excess of 1700 square feet, dozens of high quality wooden or metal Pilates reformers and other pieces of machinery. You’d also have the premises stylishly decorated to create a certain type of workout experience for your members.
If your budget was at the opposite end of the spectrum, your studio might comprise of just a small space of 350 square feet or less with just a few pieces of Pilates equipment.
Alternatively, your budget might be somewhere in the middle of this range.
Here are just some of the many items that you’ll need to factor into your budget when considering opening a Pilates studio
- Buildout/fitout/construction costs
- Building plans/blueprints
- Cost of negotiating a lease and getting a commercial lease in place
- Town planning/local government costs to ensure the business has the right to operate from the premises
- Rent in advance
- Utility bonds and costs for connecting utilities to the premises
- Pilates Equipment
- Legal costs
- Insurance costs
- Accounting costs
- Loan establishment costs (if taking out a loan)
- Office supplies
- Printing costs for promotional material for the launch of the business
- Branding and graphic design
- Website development
- Photography costs
- Staff recruitment costs
- Staff training costs & wages
- Pre-launch marketing costs
- Wages for pre-launch marketing
- Working capital for wages and other expenses for the first few months of trade
What’s not factored in here are the hours involved in sourcing and vetting various suppliers and vendors for each of the items listed above and time spent researching, creating, documenting and organising business set up.
If you have a real desire to open a Pilates studio, but you’d like to tap into expert help, advice, research and systemisation in every facet of the business, then perhaps a franchise would suit you better than going it alone.
With a Studio Pilates franchise, you are given access to experts who will assist you in each of these key pre-launch areas as well as providing advice, support and education on how to operate a lucrative Pilates studio business on an ongoing basis. This is something that is much more difficult when going it alone and you may end up spending years figuring out the right way to do certain things and waste tens of thousands of dollars in the process.
Investing in a franchise can truly fast-track success. A franchise allows you to realise your dream of being a business owner, while maintaining greater financial freedom and flexibility with your time.