STUDIO OPENINGS
TOTAL MARKET
Let’s now look at London boutique studio openings in more detail. Note that 2023 data is up to and including 15 October 2023.
■ The impact of the pandemic on the boutique market has been felt ever since. New openings fell by over half – to 27 – in both 2020 and 2021, before falling even further to 23 in 2022. ■ 2023 has been slightly more positive so far, with 28 new studios already open in London this year (data up to and including 15 October) – the highest number since the advent of COVID-19.
■ Since our last report in 2018, 165 new boutique studios have opened. Of these, 93 opened since the first COVID-19 lockdown in March 2020. ■ Pre-pandemic, with the exception of 2016, the number of boutique studios opening in London rose steadily. ■ An all-time high of 62 studios opened in 2018, followed by a similar number in 2019 (59 new openings).
Number of new boutique studio openings in London
70
60
62
59
50
47
40
37
30
30
30
28
27
27
25
23
20
18
17
13
10
0
Pre 2011 2011
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
2022 2023
■ Just over half are Cardio studios, around a quarter are Mind & Body studios, and a quarter are CrossFit studios.
■ Of the 93 new studios that have opened since the first COVID-19 lockdown in March 2020, just over half are part of a multi-location brand (53%) while 47% are single sites.
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LONDON BOUTIQUE STUDIO REPORT 2023
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