Boutique fitness studio consultant….14 questions

As a boutique fitness studio consultant for the past 8 years, I’ve been asked a ton of questions.  Some are what you would expect, others might surprise you.  The challenges to opening a cycling studio, a bootcamp studio or other boutique fitness concept, depend on a variety of factors.  Here is a quick summary of 16 interesting questions asked of this particular Boutique fitness studio consultant:

Short answers to common questions

  1. How much does it cost to startup a studio?  ($250k to $800k)
  2. What impacts start-up costs (Location, square footage, building type)
  3. What is a reasonable ROI to expect on startup cost? (2-3 years)
  4. What is a reasonable proft or margin to expect? (15% 0 40%)
  5. How long before operating in the black (4-8 months)
  6. What is the biggest startup cost? (Construction)
  7. Is my concept a ‘trend’ (good), or a ‘fad’ (bad)? (Depends on the concept)
  8. What is the biggest operating challenge? (Staffing)
  9. What is the biggest marketing challenge?  (Finding new triers)
  10. What will my life be like as an owner? (Fun, but on call 24/7/365)
  11. What will I be surprised by? (The importance of building a true community)
  12. Can I run one of these and keep my full time job?  (No, unless you have an amazing partner)
  13. What will my biggest fear be?  (Empty classes)
  14. What will my customers like most?  (Great staff and a fitness ‘experience‘)

There are much longer answers to each of these questions, many are dealt with in other posts here at Boutique Studio Adviser.  One final question you might have?  What does a boutique fitness studio consultant do?  Short answer:  assistance with business planning, startup, operations, & franchising.

 

Would you like to connect? Since 2005 we have owned and operated our own boutique fitness studios. We advise entrepreneurs, franchisees, franchisors, suppliers and investors in this space. To touch base, CLICK HERE and schedule a free initial consultation.

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