PRICING
TOTAL MARKET
Looking at pricing by studio type, we can see that at the lower end of the commitment scale – one, five or 10 classes – prices are fairly consistent across Cardio, Mind & Body and CrossFit. Mind & Body is slightly more expensive at the lower end, but the difference is more significant at the level of 20- and 30-class packs. Cardio then overtakes as the most expensive option for unlimited membership.
■ Our research did not find 30-class packs to be a commonly-offered option for CrossFit.
■ Cardio studios charge the highest unlimited monthly memberships (£207.34 average).
■ Mind & Body studios charge the most for 10-class packs (£202.87 average).
Pricing by studio type – London
£700
Cardio
Mind & Body
CrossFit
£600
£500
£400
£300
£200
£100
£0
1 class
5 class pack
10 class pack
20 class pack
30 class pack
Unlimited MM
Ed Stanbury, co-founder of BLOK London, agrees. “The biggest danger to the sector is the constant discounting and race to the bottom,” he says in his interview on page 58. He continues: “The boutique model does work: if you have the best instructors and can deliver excellence across every touchpoint to meet high customer expectations every time, you can fill classes to high capacity at a premium price. However, you need to foster community and create strong brands to build loyal customer bases that won’t be distracted by other studios’ flash sales. If you can achieve that, you’ll be in good shape.”
Of course, all these findings relate to list price. Meanwhile, what we’re hearing from commentators across the sector is that the biggest issue in the boutique fitness sector today is constant discounting. “Why does the boutique industry find it necessary to consistently discount?” asks Ten founder Joanne Mathews on page 45. “We’d all be far better off if this didn’t happen: it risks commoditising the boutique fitness product. At Ten, we only discount classes twice a year, in the low-traffic months of August and December, and we never discount physiotherapy.”
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LONDON BOUTIQUE STUDIO REPORT 2023
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