OVERVIEW & KEY FINDINGS
TOTAL MARKET
A few other topline findings from this year’s report, before we dive into more detailed analysis and expert interviews.
■ In the five years since our last report in 2018, the average unlimited monthly membership fee has increased by 21.3% and the cost of a 10-class pack by 14.3%. ■ Just under two-thirds (62%) of London’s 324 boutique studios are part of a multi-site operation, with just over a third (38%) being independent studios. ■ Just under half of all London boutique studios (49.1%) fall into our Cardio classification, with Mind & Body studios making up 31.5% and CrossFit 19.4%. ■ Almost a third (32%) of Cardio studios also offer either yoga, pilates or barre classes in addition to their primary cardio-based offering. ■ There are 18,318 boutique classes on offer in London each week – up from 15,806 in 2018 (+15.9%). ■ The average number of weekly classes per boutique studio is 57. ■ MindBody is the most popular membership management system within the London boutique market, used by over a third of all studios (111 studios). ■ Over a quarter of studios (27%) still have an online offering – live classes and/or on-demand – in addition to their in-person classes.
■ In spite of its much-publicised troubles – and with a caveat that some studios are still closing alongside a pipeline of new openings – at the time of our research F45 remains London’s leading boutique operator by number of studios. Opening 26 new boutique studios (and closing six locations) in the last five years, it now operates 40 London studios. ■ It is followed by 1Rebel, which has added seven new boutique studios in London since 2018 (and closed one location) to take it to 11 London boutiques; it also operates overseas. ■ F45 and 1Rebel are the only operators to have added more than four boutique studios compared to five years ago. ■ There are several new operators that have entered the London boutique market since 2018, including Circuit Society, Enhance Fitness, Exhale Pilates, Milo and the Bull, Pilates Circuit, Rowbots, Rumble, Shredquarters, SoulCycle and Yogarise. Each of these brands operates two or three studios. ■ Top operators that are no longer in operation since our last report in 2018 include Another_ Space, Core Collective, Good Vibes, Lomax, Rize and Studio Lagree.
Just under half of all London boutiques fall into our Cardio classification
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LONDON BOUTIQUE STUDIO REPORT 2023
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