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Research Outline
Prepared for Justin | Delivered December 17, 2019
Boutique Fitness Research
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Goals
To determine the average revenue per square foot for a moderately successful boutique fitness studio in the US.
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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 billio
n 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
.
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