OVERVIEW & KEY FINDINGS
TOTAL MARKET
There are now 324 boutique studios across London, up from 276 in 2018 – a growth of +17.4% compared to five years ago.
Number of boutique studios in London
350
325
324
320
312
308
300
276
250
217
200
170
140
150
103
100
73
48
50
31
18
0
Pre 2011 2011
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
2022 2023
boutique studios have opened, while 119 boutique studios have closed. In his interview on page 32, North Castle Partners’ Jon Canarick elaborates on the lingering impact of the pandemic. Analysing our data by studio type, since 2018 the number of Cardio studios has risen +39.5% to 159. CrossFit studios are also up +21.2% to 63, but Mind & Body studio numbers have fallen -7.3% to 102.
The graph above also suggests a stabilisation in the market post-COVID, with boutique numbers similar in 2023 to 2019. However, the impact of COVID-19 has unquestionably affected the growth of this market. Having reached peak growth in 2018 and 2019, we’ve seen far fewer new boutique studio openings between 2020 and 2023. We’ve also seen a significant number of studios unable to survive and ultimately closing: since our last report in 2018, 165 new
Breakdown by studio type
2023
2018
%
+ 17.4%
All
324
276
+ 39.5%
Cardio
159
114
- 7.3%
Mind & Body
102
110
+ 21.2%
CrossFit
63
52
30
LONDON BOUTIQUE STUDIO REPORT 2023
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