I am not sure that there is an answer for your question. Small specialized studios are getting their reputation and momentum usually from the instructors teaching there. You could envision three studios side by side but only one of them being successful. Having similar studios in the same proximity does not have to be bad at all because it will attract traffic with people interested in your specialty into this area.
I would try to scout out, though, how those other studios are doing. Find out as much as possible about their pricing structures and membership and/or participants. If most are struggling even with good instructors, then this may be a red flag.
Wish you success.