Many boutique fitness studio owners tell us that they got into this business to help their members live better lives and give back to their communities; not to make a lot of money. We love hearing this. It speaks directly to their true passion for fitness and community, however, it’s extremely important for every studio owner to focus on the financial management of their business.
Since 2006, Zen Planner has helped boutique fitness studios build and maintain financially successful businesses. We hear the question, “what’s the key to a running a successful fitness studio?” time and again. While the definition of success is extremely subjective, if you’re not making money, your business quite simply won’t be around long.
We’ve previously offered financial advice, but we were determined to crack the code on what truly differentiates a thriving boutique fitness studio from one that’s losing money each month. We developed a survey featuring financial, emotional and operational questions and received over 200 responses from boutique fitness studio owners all around the world. After digging into the data, our team was able to create our 2016 Boutique Fitness Benchmark Report, which boasts the most detailed financial performance data available in the boutique fitness industry.
This report identifies the various factors differentiating thriving fitness studios from stragglers. It also provides vital performance data broken out by studio size, including:
- Member demographics
- Average revenue per member
- Profit and loss statements
- Average class size
- Personal training as a % of membership
- And much more