Studio Pilates Franchising Top 10 FAQ’s About Becoming a Studio Pilates Owner 23 January 2018 Studio Pilates Our answers are based on setting up an Australian studio, however many of them will apply internationally – or we have some great alternatives in place. Please contact us to talk through your goals for whichever location you’re focused on www.studiopilatesfranchise.com. 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 to earn more money. This budget includes your fitout, training, legals and equipment. 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, and if you’re keeping your expenses low and the revenue coming in, you’ll no doubt be successful. It all comes down to r a combination of a well run business and how much demand there is (or you create) in your area. Can I open multiple studios? Of course! We encourage this and building up a network of profitable studios is a great way to go. You will first need to be successful in one before making the jump to two or more. How long does it take from now till my studio is open for business? It generally takes 6-18 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 six month mark, depending on how long it takes to find a suitable site for your studio. Be mindful of the fact that Studio Pilates locations get snapped up extremely quickly, so it is in your best interests to reserve your location once you feel comfortable about making the commitment to take things forward. 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 the process of getting you and your studio up and running. 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! How do I get my studio set up and actually fitted out? Studio Pilates can do this all for you! We can arrange the fit out and build of your studio in the iconic Studio Pilates International style. We have authorised shop fitting partners who can provide you with the highest quality fitout for the best possible price, and this further streamlines your journey into business. Options to explore managing this process yourself are available. 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 services provided by our authorised bookkeeper. You have real time, 24/7 secure access to all of your figures from your smartphone, tablet or computer. You’ll also be able to retain your family accountant for quarterly and year end tax lodgements and advice. How do I get instructors to staff my studio? You simply advertise online with our pre-prepared job ads! Once your team is selected, you put them through our Studio Pilates International Platinum Training Program, which is conducted regularly. When your studio is established, you can also advertise this training program to your clients. This attracts even more team members who live locally, and who are super passionate about working in your studio. We also advertise positions to existing instructors in our network, and to those who have completed our training courses nationally. 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.