On an industry level, market research has shown that the global yoga and pilates market was valued at USD 130.11 Billion in 2021 and is projected to reach USD 344.73 Billion by 2030, growing at a CAGR of 11.43% from 2023 to 2030. Hence, the numbers reflect a growing interest in the area of pilates, presenting a business opportunity to those dreaming of owning their own pilates studio. Of different Pilates offerings, Pilates Reformer classes are picking up in popularity.
A Pilates Reformer utilizes a versatile bed-like equipment, elevating the traditional mat-based pilates by incorporating resistance other than the load of one’s bodyweight. The board and structure of the machine aligns one’s body such that the right muscle group and contraction is felt, it can even be used for injury rehabilitation purposes.
Opening a Pilates Reformer studio is not cheap. To illustrate the cost of opening one, this article will walk-through the capital investments needed to kickstart XYZ studio. XYZ studio aims to be a boutique pilates studio specializing in reformer pilates. Its owners intend to find a central and accessible location for the studio and build a space large enough to host 5 students at a time. XYZ studio will likely cost $46,747 to start up. Here is the cost breakdown:
|Studio Rental||$4,000 (monthly)|
|Fixtures and Fittings||$1,027|
|Pilates Reformer Equipment||$36,180|
|Employee Salary||$4,701 (monthly)|
|Total Cost of Starting a Pilates Reformer Studio in Singapore||$46,747|
Choosing the space
The location and space of a studio is crucial. Locating XYZ studio in a place with high footfall can instantly build brand awareness and increase the number of walk-in customers. However, this comes at a cost of higher rental.
XYZ studio will be located at this cozy studio space at Tanjong Pagar as it is near the Central Business District (CBD), attracting the working crowd. Its prime location justifies the monthly rental cost of $4,000 per month.
Choosing the equipments
There are four types of PIlates equipment and they vary in versatility, size and function. Firstly, the Cadillac Reformer is the most comprehensive pilates equipment, an ultimate tool for individuals of all experience levels. The Cadillac has a bed-like frame with an additional square frame above the bed. The top frame has straps, bars and trapezes attached to facilitate a variety of movements, including hanging exercises. Secondly, the reformers with tower equipment have a vertical component attached to one end of a reformer, this allows for several attachments and it functions like a part of a Cadillac frame. A tower reformer is ideal for smaller spaces as the towers are usually detachable. This allows for the use of vertical spaces to get more exercises out of the machine, furthermore it can be removed and stored when not in use. Thirdly, a reformer with rebounders adds an element of cardio into the workout. A rebounder is a jump board and it allows one to jump horizontally when using the reformer machine. Lastly, XYZ studio can consider incorporating other types of pilates tools like barrels, chairs and rings. For illustration purposes, XYZ studio chooses three variations of items to fit in its studio: the Reformer, the Rebounder and the Ladder Barrel. The total sum of purchasing pilates reformer equipment is $36,180.
|Merrithew Cardio-Tramp® Rebounder||$1,080.00||1|
|Merrithew MPX® Reformer Bundle||$7,668.00||4|
|Merrithew Ladder Barrel||$4,428.00||1|
|Sum of Equipment Cost||$36,180|
Fixtures and fittings
Now that XYZ studio has chosen its space and equipment, it has to account for other furniture and fittings to ensure the facility is well designed to fit the needs of its members. Suppose XYZ adopts a simple design and do not provide shower facilities, a rough breakdown of the expenses is detailed below:
|Item||Unit Cost ($)||Total Units||Total Cost ($)|
|Furnishings & Fittings||Reception Desk||$349||1||$349|
|Storage Cube Shelves (for members)||$129||2||$258|
|Storage Cupboards (for gym)||$99||2||$198|
|Toilet and Cleaning Supplies (Assuming no shower facilities)||Mop, Broom, Toilet Scrub, Paper, Soap etc.||$150||1||$150|
|Total Facilities and Amenities Costs||$1,027|
To run XYZ studio, hiring other employees like pilates instructors can ease the operation of the studio. According to Indeed, the average base salary of a pilates instructor is $4701 a month. XYZ Studio can also consider adopting a different pay structure like a commission-based or classes-based pay structure.
When you start a new studio, be prepared to incur other expenses. The list is non-exhaustive, some common expenses are: cost of registering your business and obtaining the necessary permits and insurances, a booking solution to manage your client base and classes, a marketing budget to promote your new studio and recurring expenses from utilities.
|One-time Expense||Registration Fees||$115|
|Recurring Monthly Expenses||Booking Solution||$100|
|Insurance (e.g. UOB Bizcare)||$24
(Annual – $285)
|Total Miscellaneous Expenses (for the first month)||$839|
In conclusion, opening your Reformer Pilates Studio requires a high level of capital investment. Nevertheless, the growing pilates industry presents a promising opportunity to those willing to invest and build their brand. A well thought-out plan and a healthy liquidity level can definitely lead to sustainable growth for your studio. For those interested in exploring opening a Strength Training Gym, do check out our previous blog post here.
This article was written by Kelly Low.