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Research Outline

Prepared for Justin | Delivered December 17, 2019

Boutique Fitness Research

Goals

To determine the average revenue per square foot for a moderately successful boutique fitness studio in the US.

Early Findings

  • The entire health club industry earned $32 billion in profits in 2017, and boutique brands made up 40% of the entire market.
  • According to ICSC, the size of boutique fitness studios typically range between 2,000 to 5,500 square foot.
  • In 2017, LA Fitness, the most successful boutique fitness company, generated $2.1 billion from 705 locations. Equinox Holdings, comprising of boutique brands such as Equinox, SoulCycle, Blink Fitness, and Pure Yoga, generated $1.3 billion in revenue from 130 locations.
  • Also, It seems the entire boutique industry has plateaued with Flywheel and Pure Barre closing down some of their boutique studios, according to a recent report by Business Insider.