You have a Pilates studio—but how are you going to use it to make your business profitable? Depending on your specific expertise, you may have a clear vision for your Pilates studio revenue stream: maybe it's subscription-based memberships so practitioners can use the space or equipment; maybe you plan on teaching lots of classes and having a full calendar of either private one-on-one sessions or instructor-led seminars.
But the best way to protect your business is to never rely on just one revenue stream, no matter how strong you think it may be. So consider branching out into multiple business opportunities under the umbrella of Pilates. Start with these options to grow your business and diversify your income:
1. Add Retail Options
Dedicate a small portion of your studio to selling Pilates equipment, Pilates accessories, and general sportswear for your students or members who may want to have their own supplies or be able to do some Pilates at home. This option provides direct revenue for your business. You can even sell branded goods and apparel, which can increase your brand exposure and lead to increased membership.
Another avenue for this strategy is selling goods online. Cultivate a strong online brand to bring potential shoppers to your retail section and class calendar.
2. Offer Instructor Workshops
Help burgeoning Pilates businesses get their start by selling instructor courses and workshops. At first, this may seem like a risky strategy that just increases your competition. However, this is your opportunity to position your Pilates studio as an authority in the space. You can also adjust your approach based on the popularity of Pilates in your geographic region; remember, many instructors also focus on different specialties or have different class approaches, so there's likely enough space for everyone.
3. Host Retreats and Special Events
Your core classes and private sessions are for dedicated practitioners who will return again and again. However, you can also arrange opportunities for people who are lightly curious about Pilates or may one day become dedicated practitioners. Retreats and special events can include day-long seminars, themed sessions, and one-off seminars that touch on different entry-level subjects. Consider these markets:
- Working with businesses to offer corporate events or corporate wellness perks
- Partnering with coworking spaces that want to offer a cycle of different events to members
- Coordinating with meet up groups or offering Class Pass sessions
Depending on your availability, you might host these events in your studio, or you might travel to these sites with some equipment packs.
4. Provide Online Classes
Even though the pandemic is over, online fitness classes are still incredibly popular. Consider launching a YouTube channel so you can provide viewers with daily workouts, tips, and different types of themed or targeted sessions. This is a great tool for building your brand and establishing your expertise. You can also reach out to people who are interested in Pilates but are not currently able to make it to in-person classes. Alternatively, you can offer paid classes with interactive sessions and live-streamed workouts.
5. Offer Diverse or Niche Class Options
Finally, make sure your calendar of classes is as robust as possible with different types of classes. For example, you might start with general sessions and one day expand to different tiers based on experience levels and capabilities. But you might also create niche classes such as Pilates for pregnant people, Pilates for injury rehabilitation, Pilates for seniors, or Pilates for athletes looking for specific physical outcomes.
Get the Right Equipment To Make It Happen
The more diverse your revenue streams, the stronger your business is in the event of seasonal changes and market effects. As you grow your business, make sure you have the right equipment and resources for every revenue stream. Contact BASI Systems today to learn more about taking your Pilates studio to the next level, or browse through our studio packs to find the right fit for your business plan.
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