Pilates has quickly become one of the most popular fitness practices in the UK. In fact, according to Gymcatch, over 12 million people in the UK practice it. It’s no surprise then that the Pilates & Yoga Studios market is valued at around £1 billion.
If you are thinking about cashing in on this trend, you might be wondering where to start. Opening a Pilates studio can be a lucrative venture, but it comes with a lot of planning.
Here’s exactly how to do it:
Step 1: Get Certified
Before opening a studio, it’s important to make sure you have the right qualifications to be a Pilates instructor – even if you plan to hire other people.
These qualifications mean you not only know how to run a class if you need to, but you truly understand the core of the business. The training will cover everything from different types of Pilates to safety.
The most recognised certifications in the UK include:
- Level 3 Diploma in Teaching Pilates
- Level 4 Certificate in Mat Pilates
If you plan to do more specialised practice (ie reformer Pilates) then you will also need training around how to use the equipment safely.
If you can, try and get some experience by either going to classes or freelancing as an instructor to see what works and help you improve your offering.
Step 2: Create Your Business Plan
Every good business starts with a plan. It’s important to sit down and get everything down on paper, so you can be clear about how you plan to operate the business, what your offering will be and what your growth plans are. In your business plan you should think about:
Who your target market is, including:
- Where you want to operate
- Who you want to appeal to
- What types of Pilates you want to offer
How much you want to charge per class and what that structure is
- Do you offer group or individual classes?
- Subscriptions?
- Credit based pricing?
Financials including
- Who will fund the initial stages, and if you need to look for investment
- Price per class
- Payment structure for instructors (ie retained or per class)
- Estimated costs for location, equipment and insurance
Marketing including
- Where you plan to find new clients
- What budget you might need for marketing
- How you plan to draw in and retain new customers
Offering
- How many classes do you offer a week?
- Do you offer online classes?
- What type of Pilates you want to offer
Once you have that, it will be infinitely easier to follow the upcoming steps.
Step 3: Find A Studio
Once you know your target audience, it’s time to figure out where they are. For example, if you want to appeal to busy professionals, you might want to find a location with lots of offices nearby.
If you plan to appeal to parents, then you might be better off finding a studio in the suburbs.
Having this thought through in the early stages will make it easier to find and lock in the right place.
Aside from location, it’s also important to think about:
- Space: If you plan to use bulky equipment for example, how much space do you need?
- Cost: What budget do you have for rental and how does this impact the price of classes?
- Competition: If there are lots of studios nearby, does this affect your appeal?
- Transport: Having good transport links nearby is important to improve footfall.
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Step 4: Get Registered
In the UK in order to run a business, it must be registered with HMRC. To do this, you will need to set up a limited company, which costs around £50 to register.
To make sure you stay compliant, it’s worth speaking to an accountant, who will explain how to keep track of expenses, when you might have to register for VAT payments and how to record all of your finances.
As well as this, you’ll want to explore local council permits, business insurance and even covering yourself legally by asking clients to sign waivers.
Having this set up properly from the start can help make sure you don’t come up against any problems further down the line.
Step 5: Get Your Equipment In
Depending on the type of Pilates you decide to offer, you’ll want to invest in the right equipment. You will need things like:
- Mats
- Balls
- Resistance bands
- Mirrors
- Sound systems
- Lockers
- Large equipment like reformers (if necessary)
- Video equipment (if you plan to offer online lessons)
If you don’t want to buy the equipment outright, you might want to lease it or finance it to avoid high upfront costs.
Step 6: Invest In The Right Software
As a business, you will also want to invest in the right software to keep the company ticking. Many fitness studios will build their own apps that allow people to book, pay and sign up for discounts all in one place.
Aside from booking software, which can help people view timetables and book onto classes, you will also want to think about accounting and payments.
Having a POS system in the studio is a good idea for drop ins. However, you’ll also want to think about using software like PayPal or Stripe to allow people to pay online for memberships, stand alone classes or credits.
Finally, think about if you want to offer online as well as in person classes. If you do, explore which software would allow you to replicate the experience for customers at home.
Step 7: Start Marketing
So you have your studio, your offering and your plan. Now it’s time to get people through the door!
You can do this through:
- Advertising on local community boards
- Creating social media channels
- Posting in community forums and Facebook groups
- Partnering with local businesses
- Offering free trials
- Offering referral bonuses
- Partnering with employee benefits platforms
- Getting listed in local magazines and newspapers
- Partnering with local gyms
- Creating a website and optimising it for local SEO
Having your target audience in mind can help you make sure you are marketing in the right places and getting noticed by the right people.
Once you do have them locked in, think about how you keep them retained including:
- Memberships
- Loyalty programmes
- Referrals
- Monthly social events
Step 8: Launch!
So you have everything ready, it’s time to launch with a bang! Think about how you can get people interested. You might want to host an event, offer free classes or give people discounts to try.
Through this, you can work to get feedback and refine your offering, to make sure it continuously improves in the early stages.
Step 9: Expand
As your studio grows, you might want to hire more instructors.
Look for qualified professionals that appeal to your target audience, think about payment structures or incentives to keep them involved.
If it continues to grow, think about where you might open a second studio or what other hires you might need (a studio manager) to allow you to focus more on growth.
Starting Your Own Pilates Business
Opening a Pilates studio in the UK can be a great business. However, like all businesses, it needs careful planning, investment and dedication.
By following these steps you can build a thriving business and help people improve their wellbeing. So, what are you waiting for? Start planning today!