Financial Profile of a Pilates Studio?
Hey everyone - my mom has been doing pilates for years and just recently got certified. She is considering opening her own studio and employing several of her friends. She turned to me (the son that went to business school) for some advice about the financial aspects of running a pilates studio and the industry in general. Trouble is, I have absolutely no experience or data, but I want to help my mom.
Can any of the pilates studio owners out there share some basic financial information with me so I have some data points? Please don't feel compelled to share your studio name or anything, but can anyone give me some data points on the following:
Total Annual Revenue
Number of instructors at your studio
It would be really helpful! Thanks everyone.
Years ago when I first became certified through STOTT Pilates, they offered financial profiles of studios based upon square footage, pieces of equipment and number of classes.
It was very helpful to me.
I feel confident that if you phone STOTT Pilates directly they would be able to give you some specific direction. You can alternatively visit their website. www.stottpilates.com
Balanced Body and Peak Pilates might be other organizations that you can contact. I believe they all offer the same service.
I hope this gives you some direction.
Mine is a small business, at it's highest point I employed 12 instructors, currently it is me and 3 others. Consistently I have had gross revenues just under $300,000 a year, operating costs of The Business run around $250,000 a year - Rent, Payroll, Insurance, Phone... You also have to be very careful of other business that all want a piece of yours.
In order to succeed the business needs to generate volume - 1 on 1 sessions do not cover it, but rather group classes and small group sessions. Ideally the business should also have a retail division.
The owner should be more involved in Marketing and Managing Operations. If the owner is teaching what she wants will not necessarily be what the business needs.
I hope this is a help
Although I haven't provided you with any specific data, I hope that this was somewhat helpful to you.
Don't worry, this question is certainly not the only avenue I'm pursuing. I just want to see if I can drum up a few data points to make sure my assumptions about the local market pass the smell test nationally.
Can anyone provide a data point or two?
Here is the link to the information I was referring to.
It's called STOTT Pilates Full Solutions.
Again, I hope this is helpful.
I used to own a pilates studio in Italy and from 2004-2008 and this was extremely helpful to me.
Would you consider speaking with retired entrepreneurs? They are known as SCORE.
Do you have a business mentoring program in your area? SCORE is free and can be very helpful for business owners in all stages. Their link follows:
Good luck to you and your mother.
Many of your decisions depend on your location, your target market, liability, equipment, rental
/lease options, payroll etc..
Owning a studio sounds glamorous, but trust me, it's a lot of work!