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.
I am the owner of Pilates Studio and would suggest against opening a business and employing friends. There is a point where the friends leave and you end up becoming a business owner. Without business knowledge the business will fail.
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