Bodybar Pilates: $624K Average Sales vs. $370K-$623K Franchise Cost

In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:

Section I – Estimated initial investment (franchise costs) for a Bodybar Pilates franchise, based on Item 7 of the company’s 2023 FDD

Section II – Initial franchise fee, royalty fee, and marketing fee for a Bodybar Pilates franchise, based on Items 5 and 6 of the company’s 2023 FDD

Section III – Number of franchised and company-owned Bodybar Pilates outlets at the start of the year and the end of the year for 2020, 2021, and 2022, based on Item 20 of the company’s 2023 FDD

Section IV – News updates on the Bodybar Pilates franchise opportunity

Section V – Presentation and analysis of Bodybar Pilates’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:

• 2022 average, median, high, and low quarterly revenue and number of members for the 11 Bodybar Pilates studios that were open before the start of the Measurement Period (April 1, 2022, through March 31, 2023) or had substantially completed their founding member pre-opening sales by the beginning of the Measurement Period (the “Included Studios”)

• 2022 and 2021 systemwide quarterly gross sales and membership count, and year-over-year percentage change, for the Included Studios

• 2022 and 2021 actual gross sales, and year-over-year percentage change, for six of the Included Studios open the entire 2022 and 2021 calendar years

Section VI – Key ratios, comparables, computations, and analyses for the Bodybar Pilates franchise opportunity (exclusive content for Platinum subscribers)

Section I – Bodybar Pilates Franchise Costs

• Bodybar Pilates franchise costs, based on Item 7 of the company’s 2023 FDD:

• Initial Franchise Fee:  $49,500
• Training Expenses:  $850 to $4,190
• Bodybar Pilates Instructor Training Program:  $7,500
• Real Estate/Lease:  $3,786 to $15,588
• Leasehold Improvements:  $134,346 to $212,591
• Pilates Equipment Package:  $99,747 to $116,310
• Millwork, Audio, and Visual Items:  $15,239 to $39,750
• Signage:  $7,968 to $18,992
• Computer System and Equipment:  $2,500 to $4,025
• Initial Inventory Kit:  $15,000
• Advertising/Marketing (including Grand Opening Program costs):  $9,529 to $17,916
• Insurance:  $2,440 to $4,510
• Shipping:  $6,000 to $20,344
• Professional Fees:  $3,450 to $47,198
• Additional Funds – 3 Months:  $13,000 to $50,000
• Total Estimated Bodybar Pilates Franchise Costs:  $370,855 to $623,414

Section II – Bodybar Pilates’ Initial Franchise Fee, Royalty Fee, and Marketing Fee

• Bodybar Pilates’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:

• Initial Franchise Fee:  $49,500
• Royalty:  7% of Gross Sales
• Marketing Fund Fee:  2% of Gross Sales
• Local Advertising Requirement:  a minimum of $3,000 per month on average over 12-month period

Section III – Number of Franchised and Company-Owned Bodybar Pilates Outlets

Franchised

2020

• Outlets at the Start of the Year:  3
• Outlets at the End of the Year:  4
• Net Change:  +1

2021

• Outlets at the Start of the Year:  4
• Outlets at the End of the Year:  8
• Net Change:  +4

2022

• Outlets at the Start of the Year:  8
• Outlets at the End of the Year:  14
• Net Change:  +6

Company-Owned

2020

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2021

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2022

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

Section IV – News Updates on the Bodybar Pilates Franchise

• Franchise Group Bringing Bodybar Pilates to Elk Grove

• Bodybar Pilates Owners Reclaim Work-Life Balance

• Bodybar Pilates Ranked No. 342 on Entrepreneur’s 2024 Franchise 500 List

Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Bodybar Pilates Franchise (Item 19, 2023 FDD)

• As of March 31, 2023, there were 18 open Bodybar Pilates Studios. This Item sets forth historical sales, memberships, and same store sales of 11 of the 18 open Bodybar Pilates Studios (the “Included Studios”) for the period from April 1, 2022, through March 31, 2023 (the “Measurement Period”).

• Of the 11 Included Studios, one opened for business on April 25, 2022 and another on May 2, 2022 but both Studios had substantially completed their founding member pre-opening sales by the beginning of the Measurement Period.

• Your Studio will be substantially similar to the Included Studios.

• Excluded from this Item were three Studios that opened between September and December 2022, and four Studios that opened in 2023.

• Bodybar Pilates has not audited or independently verified this information.

Part 1 – Averages, Median, High, and Low Revenue and Number of Members of the Included Studios, by Quarter (Q2 2022 to Q1 2023)

Q2 2022

• Average Revenue:  $135,353
• High Revenue:  $195,313
• Low Revenue:  $63,553
• Median Revenue:  $146,190

• Average Number of Members:  266
• High Number of Members:  369
• Low Number of Members:  121

Q3 2022

• Average Revenue:  $159,053
• High Revenue:  $231,441
• Low Revenue:  $91,519
• Median Revenue:  $165,564

• Average Number of Members:  291
• High Number of Members:  423
• Low Number of Members:  149

Q4 2022

• Average Revenue:  $162,096
• High Revenue:  $257,270
• Low Revenue:  $88,405
• Median Revenue:  $163,202

• Average Number of Members:  283
• High Number of Members:  421
• Low Number of Members:  137

Q1 2023

• Average Revenue:  $167,822
• High Revenue:  $252,777
• Low Revenue:  $88,489
• Median Revenue:  $165,138

• Average Number of Members:  309
• High Number of Members:  470
• Low Number of Members:  151

• The quarterly averages noted above were calculated by taking the average of the Included Studios’ Gross Sales for the measurement period. Six of the Included Studios surpassed the 2022 Q2, Q3, and Q4 average and five did not. Five Included Studios surpassed the Q1 2023 average and six did not.

• The median is the middle number in the list of Gross Sales for the 11 Studios profiled above.

• Gross Sales is defined as total revenue generated from the sale of all services and products and all income of every other kind and nature related to the Studio whether for cash or credit (treated as a sale when the charge is made and regardless of collection in the case of credit), sales in kind from barter and/or exchange, as well as business interruption insurance proceeds.

• Gross Sales does not include:

• (i) sales (or similar) taxes that Franchisee collects from your customers if you transmit them to the appropriate taxing authority;
• (ii) proceeds from isolated sales of trade fixtures that are not part of the products and services Franchisee offers and that do not have any material effect on the operation of the Franchise;
• (iii) tips or gratuities paid directly by Franchise members or customers to employees, teachers, or instructors or paid to Franchisee and then turned over to these employees by Franchisee in lieu of direct tips or gratuities; or
• (iv) returns to shippers or manufacturers.

• Gross Sales also does not include proceeds from the sale of gift certificates or stored value cards (all proceeds from the sale of gift certificates and stored value cards belong to Bodybar Pilates), but it does include the redemption value of gift certificates and stored value cards at the time purchases are made.

Part 2 – Year-Over-Year Systemwide Gross Sales and Membership Count for Calendar Years 2021, 2022, and Q1 2023

2021

• Q1 Gross Sales:  $430,575
• Q2 Gross Sales:  $594,987
• Q3 Gross Sales:  $744,051
• Q4 Gross Sales:  $868,491
• Total:  $2,638,104

• Q1 Memberships:  989
• Q2 Memberships:  1,365
• Q3 Memberships:  1,678
• Q4 Memberships:  1,956

2022

• Q1 Gross Sales:  $1,041,738
• Q2 Gross Sales:  $1,498,439
• Q3 Gross Sales:  $1,799,777
• Q4 Gross Sales:  $2,002,160
• Total:  $6,342,114

• Q1 Memberships:  2,515
• Q2 Memberships:  3,243
• Q3 Memberships:  3,762
• Q4 Memberships:  3,943

% Change (2022 vs. 2021)

• Q1 Gross Sales:  133%
• Q2 Gross Sales:  152%
• Q3 Gross Sales:  142%
• Q4 Gross Sales:  131%
• Total:  140%

• Q1 Memberships:  96%
• Q2 Memberships:  138%
• Q3 Memberships:  124%
• Q4 Memberships:  102%

2023

• Q1 Gross Sales:  $2,432,385

• Q1 Memberships:  4,922

Part 3 – Year-Over-Year Gross Sales for Six of the Included Studios Open Q2 2021 to Q1 2022 (2021) and Q2 2022 to Q1 2023 (2022)

Location A

• 2022:  $911,488
• 2021:  $528,792
• % Change:  72%

Location B

• 2022:  $748,603
• 2021:  $454,435
• % Change:  65%

Location C

• 2022:  $510,920
• 2021:  $344,405
• % Change:  48%

Location D

• 2022:  $741,375
• 2021:  $511,493
• % Change:  45%

Location E

• 2022:  $673,736
• 2021:  $468,249
• % Change:  44%

Location F

• 2022:  $640,094
• 2021:  $471,622
• % Change:  36%

• Some outlets have earned this amount. Your individual results may vary. There is no assurance you will do as well.

• The figures above do not include any costs or expenses that you will incur in the establishment and operation of a Studio, including initial franchise fees, build-out and equipment costs, rent, technology, and other Studio costs. The above figures also exclude living expenses.

Section VI – Bodybar Pilates Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️