How to Open a Pilates Studio

With the popularity of Pilates only continuing to rise, it’s little wonder why more and more people are looking to jump on the bandwagon, to secure their very own piece of the highly profitable pie. If you’ve been contemplating opening a Pilates studio, there are many different options to consider when setting up your own business from scratch. It takes dedication, research, time and commitment, not to mention taking the gamble that your new investment will pay off.

Here are just a few of the most topline things you need to know and just some of the factors you need to consider about how to open a Pilates studio.

Write a business plan 

This will be the make or break of your business's chance of success. This plan should include an elevator pitch, competitor analysis, SWOT analysis, your studio's unique selling proposition, logistics, customer segmentation, cash flow projections, and a growth plan/road map. The more detailed this plan is the better, as this document will not only help you track your goals and progress, but it will also help attract investors.

Choose a business structure 

The structure of your business will determine a number of things including the licensing you require, how much tax/super you pay, liability, how much control you have, whether you're considered an employee or an owner and how much control you have. The most common types of business structures include sole trader, trust, company and partnership.

Register your business and business name 

This is important for a number of reasons, as it will help you raise capital, minimize liability (tax and personal) and enable you to work with external contractors and suppliers. Your business name will in turn need to be finalized before purchasing a domain, registering for licenses and permits and setting up social media accounts.

Secure capital to finance your business 

Forecasting cash flow and business costs should have been included in your initial business plan and should have included start up costs, wages, BAU operating costs, profit forecasts and contingency funds so you should have a clear idea on how much finance you need to secure. Securing finances can be done via bank loans or investors. A full funding plan will need to be presented, including how much money you need, how fast their return will be, when they’ll see profits, cash flow forecasts and when the money is required.

Lease a space 

Commercial leases are complicated and you’ll need to consider the building owner, landlord zoning laws, environmental expectations and nuisance laws to name just a few things. You’ll usually need certification from your city permit office to operate a business in a certain space and can be complex to navigate through the process. Gaining your permit can sometimes take a long time, so do plan ahead and be prepared to invest money in gaining your permit.

Studio build-out/construction

This includes the obvious physical elements like ordering reformer machines and equipment, hiring a contractor and ensuring they are reputable and can deliver the project on time. Internal and external signage should be considered, computers and other hardware needs to be factored in, as well as the less obvious things like planning electrical outlets, flooring, painting, heating, ventilation, air conditioning (HVAC), a reliable sound and audio system (permits to use commercial music) security systems, soundproofing if needed, bathrooms and so much more.

Buy a domain and set up a website 

A domain provides visibility for your business as well as generating leads, which is why it’s important to work with an SEO specialist when setting up your website. Setting up a professional looking website and ensuring you provide a seamless user experience will help showcase your brand to potential clients and provides invaluable information including location, contact details, about us, booking details and FAQ’s.The better optimization your website has, the more leads you’re likely to generate.

Establish branding and logos 

A brand logo is the visual identity of your brand, and is designed to help potential clients quickly identify your business. Think about how iconic the golden arches and colonel sanders are. They give the brand credibility and are an atomic trusted voice, to keep this in mind when designing a logo. Again, this can be a timely and costly exercise and something that is ideally outsourced to a skilled branding consultant.

Set a marketing strategy

A marketing strategy is the businesses overall plan to reach prospective clients and generate leads to help achieve the overarching business goals. This includes digital marketing, public relations, social media, market research, sales strategy and customer support. If you don’t have a marketing background, you should consider hiring a marketing specialist to assist in this strategy.

Hire & train a team 

Finding world-class instructors is the goal here. Great instructors help to attract clients to your studio and will give you the flexibility to take time off from your business. Identifying great instructors in your community and securing them to work in your studio is critical to a successful business. Sometimes, this can be quite a challenge, so before you sign your lease, see if you can find out if there is an excess of talented instructors out there.

Launch your new business

Establish a launch plan and execute it on your opening day. Decide how you’ll amaze your customers as you unveil your brand new business. You might like to hire a photographer or videographer to capture the day so that you can look back on your first day in business and cherish the memories. Don’t forget that your opening day is really just the starting line, the race hasn’t even begun yet and you might feel like you have already run a marathon!

WANT ALL OF THIS TO BE DONE FOR YOU?

If you want to open a Pilates studio but you also want to save yourself a tonne of money, time and above all else stress, then opening a Studio Pilates franchise could be the best option for you. Our expert team offers all the contacts, support, direction, advice and logistics you need to open and operate a highly profitable Pilates studio. In addition to having the entire process given to you in a comprehensive manual, buying into an already recognised and trusted brand brings with it an existing client network, multitude of financing options from major banks and a support team on hand to guide you through the entire process.

Interested in owning a franchise? You’ll get to tap into our:

• Property experts

• Leasing experts

• Business training for you

• Pilates instructor training for you

• Pilates instructor training for your team

• Ongoing professional development plans

• Recognised and trusted brand

• Finance packages to fund your business

• Google my business listings

• Business planning tools

• Financial modeling tools

• Local Area Marketing support and opportunities

• Instructor recruitment advice

• Business launch plan

• Marketing and promotional collateral

• Logo

• Website

• Copywriting

• Public Relations

• Local media placement

• Social media marketing

• In-house digital marketing

• Building plans

• Contractors to do your build out

• Graphic designers for custom requests

• Photographers and content creators

• Bookkeepers for payroll

• Marketing collateral

• HR support & advice

• IT experts

• World leading workout sequences

• Updated programs

• Instructor scripting

• Quarterly marketing plans

• Fully integrated in-studio music

• All licensing

For more information on franchising opportunities with Studio Pilates International, please contact John L Scott, Franchising Director joinus@studiopilates.com.