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.
Hi Bill. I’m not a pilates studio owner, but am a fitness business owner with 19 years experience in the industry. I would HIGHLY suggest that obtaining general information on the operations of pilates studios on this forum may NOT be the best information gathering technique to use in planning your mom’s place, or even the efficacy of having a place. In my opinion what will be more helpful to you is canvassing more local businesses (pilates businesses more specifically, and fitness businesses more generally). This may be extremely difficult to get financial data on any such business so you may want/need to speak with local business brokers in your area to see if any such businesses are for sale there, and if so if you could get financial data on them. Also speaking with an accountant who has experience with such businesses would be helpful.
Although I haven’t provided you with any specific data, I hope that this was somewhat helpful to you.
Hi LaRue – thanks for the answer, and I appreciate your tip about local business brokers, etc.
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?
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.
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.