Open For Business
By Gaile Dean
You have finally decided to take the plunge and be your own boss. The image of that gorgeous studio complete with picture windows and beautiful vistas, wooden floors and lush green plants beckons to you. Stop right there, and put on the brakes! As someone once told me the butt doesn’t care what it’s working on and I have held that mantra dear ever since. Boy has it saved me from some financial nightmares!
Consider first where the studio is going to be placed. Are you going to go full steam ahead and get a commercial lease or open up from your own home. There are pros and cons to both. Working from home gives you a lower overhead plus if a client doesn’t turn up you can go and hang out the washing! However, you have to be prepared for clients to come into your home and that can feel like a real invasion of your privacy. A commercial property may put the distance between you and your clients that will keep it feeling more like a professional relationship.
I started out with a wunda chair and high mat in my living room. I then progressed to a spare bedroom collecting a reformer along the way and finally built a studio in the garden which now houses virtually every piece of Pilates equipment and happily accommodates 2-4 clients. Now clients do not actually come into my home and still when I am not working the studio is not accumulating bills. However the time is looming , our client base is building and there are thoughts of expanding. Location is, as they say in the property world, everything. Parking is something to consider and knowing the catchment area is vital. Good public transport links are a bonus.
If you are going to go the whole hog and open up a commercial space, planning your finances however boring, is essential. Every part of the studio needs to be earning you maximum dollars. Think outside the box at alternative ways the studio can earn money during your quiet times. Renting out to a ballet school is a great way to generate revenue during the afternoon. If you have a spare room perhaps renting out to a therapist or chiropractor could reap dividends for both of you.
Take into account what equipment you are going to start with and price out how many sessions each piece needs to earn its keep and use that to decide how essential it is. Adding to your collection gradually is a good idea and taking advantage of ex demos or manufacturer specials can save you a small fortune.
Lastly think of how you are going to fill your studio. Running external mat classes and generating business from those has worked well for me. I earn money at the same time as promoting the studio and those clients see a real difference in their mat ability. Advertising may be essential to begin with but again look at the cost and how much revenue each advert is likely to generate. Look at every least expensive option available to start i.e. posters in coffee shops or shop windows, drop flyers to every physical therapist you can find and woo those people like you wooed your partner. Ensure you have the ability and skills you need. Being good at admin is essential unless you have a supportive friend or partner who will take it on board for you.
Know that running your studio will be exciting, tiring, rewarding and at times will nearly send you over the edge. Overall have fun!
www.ultimate-pilates.co.uk - Gaile is the first Power Pilates teacher in the U.K. Her studio is located in West Sussex. She is YesPilates.com August Featured Trainer.
Tags: gaile dean, new pilates studio, pilates studio, power pilates, uk pilates, ultimate pilates