What type of fitness studio should you open?
The growth of boutique fitness studios has taken off, especially in cities where large real estate with room for large quantities of gym equipment is hard to come by. Opening a boutique fitness studio can have smaller upfront costs and a greater reward, if done right.
Gear your class schedule to your target audience
Depending on your location and target clientele, class schedules and types vary greatly. If you’ve chosen a suburban location on a main road for commuters, schedule class times around commute times. If you’re in the middle of an area with many stay-at-home parents, you may want to schedule classes midday, when kids might be on play dates or in part-time care.
Since women are six times more likely to participate in group classes than men, you may consider offering more classes like barre or pilates, two of the top group exercise activities among females. Males prefer classes like tai chi and cardio kickboxing, and may sign up for personal training sessions.
Calculate costs – and risks
Opening a boutique fitness studio can cost up to $500,000, but as little as $30,000. The good news is that they also tend to earn more than two times the amount commercial health clubs do per customer, with up to 40% of customers paying over $100 per month.
Burn baby, burn
Productivity increases during studio workouts, since there’s less downtime and distraction of technology. If you’ve got an audience looking to burn calories, offer more classes with higher intensity.
For lower cost options, bikram (hot) yoga and kickboxing, where class goers are responsible for bringing their own mats, towels or gloves, burn between 500-1,000 calories per session. Spinning or cycling is also a high calorie-burner, if you have the space and budget for bikes.
Opening your own studio is feasible – it just requires an analysis of your target clientele before you get started. Check out the rest of our latest infographic for more stats and tips to get you pumped up for your new venture: