7 Key Performance Indicators Every Pilates Studio Should Track

Introduction

Having clear Key Performance Indicators (KPIs) when running a business is essential for measuring progress and ensuring success. For a Pilates studio, understanding what metrics matter and how to track them is crucial to staying competitive in the fitness industry.

In order to effectively track and calculate your studio’s KPIs, you first need to know which KPIs need to be measured. Here are the top seven Pilates Studio KPI metrics you should focus on:

• New monthly customers
• Monthly retention rate
• Customer age group
• Studio Space Utilization Rate
• Number of classes reserved
• Monthly Customer Satisfaction Score
• Average price per customer

These metrics can provide valuable information about the present and future of your business, as they track key things like your customer base, resource usage, and finances. Let’s explore how to track and calculate these seven KPI metrics of Pilates studio activity.

New monthly customers

Definition

Monthly new customers is a key performance indicator (KPI) used by Pilates studios to measure the number of new customers acquired in a given month.

Benefits of Tracking

Tracking new monthly customers is an important metric for Pilates studios. It can provide valuable insight into the success of marketing campaigns and overall business growth. It also helps identify areas for improvement, such as customer retention and customer acquisition.

Industry Benchmarks

The average monthly new client rate for Pilates studios is between 0.5% and 2.0%. This varies depending on the size and location of the studio. It’s important to track this metric to ensure the studio performs better than the industry average.

How to calculate

The formula to calculate new monthly customers is:

Calculation example

For example, if a Pilates studio had 100 clients at the start of the month and added 10 new clients by the end of the month, the new monthly client rate would be:

Tips and tricks

• Track new monthly customers over time to identify trends.
• Compare your new monthly client rate to industry benchmarks.
• Use marketing campaigns and other strategies to increase the number of new customers.

Monthly retention rate

Definition

The monthly retention rate is a key performance indicator (KPI) that measures the percentage of customers who come back and buy from a Pilates studio in a given month. This is an important metric for tracking customer loyalty and satisfaction, and it can also be used to measure the success of marketing campaigns and other customer retention strategies.

Benefits of Tracking

Tracking the monthly customer retention rate for a Pilates studio provides valuable insight into the studio’s success in retaining customers. It can help the studio identify areas where improvements may be needed in order to increase customer loyalty and satisfaction. Additionally, by tracking this metric, the studio can also identify successful customer retention strategies and campaigns, as well as identify any potential issues that may lead to customer churn.

Industry Benchmarks

The average customer retention rate for Pilates studios is around 70%. A good retention rate is considered 80% or higher, while a rate below 70% may indicate a need for improvement.

How to calculate

The formula to calculate the monthly customer retention rate is:

Calculation example

Let’s say a Pilates studio had 100 clients in January, and 80 of them returned to the studio in February. The studio’s monthly customer retention rate for February would be calculated as follows:

Tips and tricks

• Be sure to track customer retention rate over time to identify trends or changes.
• Use customer feedback surveys to identify issues that can lead to customer churn.
• Implement customer loyalty programs and incentives to increase customer retention.

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Customer age group

Definition

Client age group is a key performance indicator (KPI) for Pilates studios that measures the age range of their clients. This KPI can help a studio focus its marketing efforts and better understand its customer base.

Benefits of Tracking

Tracking the age group of the clientele is important because it provides insight into a studio’s target demographics. Knowing the average age of studio customers allows a studio to tailor their offerings, marketing, and customer service to best meet the needs of their customers. This can help a studio increase customer satisfaction and loyalty.

Industry Benchmarks

The age group of clientele can vary greatly depending on studio and location. Generally, most Pilates studios tend to have a clientele that is mostly adults in their mid-twenties to mid-fifties. However, there are plenty of studios that also have younger clients. It is important for a studio to understand the age range of its clientele in order to better serve them.

How to calculate

The customer age group can be calculated by dividing the total number of customers in a given age group by the total number of customers. This calculation can be done for each age group to better understand the age range of the studio’s clientele.

Calculation example

For example, if a Pilates studio has 100 clients and 30 of them are between the ages of 25 and 35, the KPI client age group would be calculated as follows:

Tips and tricks

• Be sure to track the customer age group for each marketing campaign to understand how effective it was in targeting the desired age group.
• Be sure to track the customer age group for each location to understand the demographics of the surrounding area.
• Be sure to use KPI customer age group data to inform marketing and customer service decisions.

Studio Space Utilization Rate

Definition

Studio Space Utilization is a metric that measures the amount of space used by a Pilates studio relative to the total space available. This metric is important for Pilates studios to track as it can provide insight into the studio’s efficiency and ability to generate revenue.

Benefits of Tracking

• It helps identify areas for improvement in the studio.
• It can help reduce overhead and increase profits.
• It can help identify areas where additional space can be utilized.

Industry Benchmarks

The average studio space utilization rate for Pilates studios is around 80%. A rate above 80% indicates that the studio is efficient and well managed, while a rate below 80% may indicate that the studio is not using its space optimally.

How to calculate

The studio space utilization rate can be calculated by dividing the total area occupied by Pilates classes by the total area available for classes. The formula to calculate this metric is:

Calculation example

For example, if a Pilates studio has a total area of 200 square meters and currently uses 120 square meters of space for classes, the studio space utilization rate would be:

Tips and tricks

• Look for utilization rate trends over time to identify areas for improvement.
• Compare utilization rate to industry benchmarks to identify areas for improvement.
• Consider additional ways to use the space, such as offering additional classes or offering space for rent.

Number of classes booked

Definition

The number of classes booked is a key performance indicator (KPI) that measures the number of classes that have been successfully booked during a given period. This metric is especially important for Pilates studio owners because it helps them track the success of their business and identify areas for improvement.

Benefits of Tracking

Tracking the number of classes booked provides valuable insight into the success of studio operations. It allows the owner to measure the effectiveness of their marketing efforts and identify any potential issues that may be causing a drop in bookings. Additionally, tracking this KPI gives the owner the ability to adjust their strategies accordingly and ensure that they are providing the best possible service to their customers.

Industry Benchmarks

The industry benchmark for the number of classes booked will vary depending on the size of the studio and the type of classes offered. Generally speaking, the larger the studio and the more classes offered, the higher the number of classes reserved should be. This metric should also be compared to the cost of running the studio, so the owner can ensure that they are not spending more than they are earning.

How to calculate

The number of classes booked can be calculated by taking the total number of classes offered and subtracting the total number of classes cancelled. This will give you the net number of classes booked.

Calculation example

For example, if a Pilates studio offers a total of 20 classes in a month and 3 classes are canceled, the total number of classes booked would be 17.

Tips and tricks

• Regularly track the number of booked classes to monitor the success of the studio.
• Compare the number of classes booked to the costs associated with running the studio to ensure profitability.
• Adjust marketing strategies and efforts based on the results of this metric.
• Provide incentives to encourage more bookings, such as discounts or loyalty programs.

Monthly Customer Satisfaction Score

Definition

The Monthly Customer Satisfaction Score is a KPI (Key Performance Indicator) used to measure how satisfied customers are with the services provided by a Pilates studio. It is an important metric for businesses to gauge how well they are meeting their customers’ needs.

Benefits of Tracking

Tracking a Pilates studio’s customer satisfaction score offers a number of benefits. It allows the company to identify areas for improvement and develop strategies to resolve customer issues. In addition, monitoring customer satisfaction helps build trust and loyalty between the company and its customers.

Industry Benchmarks

The industry benchmark for customer satisfaction score is usually between 80-90%. However, a higher score indicates that customers are more satisfied with the services provided by Studio Pilates. It is important to note that customer satisfaction scores may vary depending on the type of Pilates studio and the services it provides.

How to calculate

The customer satisfaction score is calculated by taking the total number of customers satisfied with the services provided by the Pilates studio and dividing it by the total number of customers. The formula to calculate the customer satisfaction score is as follows:

Calculation example

For example, if a Pilates studio has 10 clients and 8 of them are satisfied with the services provided, the client satisfaction score would be 80%. This can be calculated using the following formula:

Tips and tricks

• It is important to regularly monitor customer satisfaction to identify areas for improvement.
• Be sure to engage customers regularly and ask for their feedback.
• Focus on providing quality customer service and developing strategies to resolve customer issues.
• Be sure to provide customers with clear and concise information about the services provided by Studio Pilates.

Average price per customer

Definition

Average price per client is a key performance indicator (KPI) that measures the amount of revenue a Pilates studio earns per client on average. This metric is a useful indicator for evaluating a company’s overall pricing strategy and whether it is working effectively to generate maximum revenue.

Benefits of Tracking

Tracking the average price per client KPI helps Pilates studios better understand the financial health of their business. It provides valuable insight into the studio’s pricing strategies, the effectiveness of their marketing campaigns, and the overall customer experience.

• Helps identify price trends and customer behaviors.
• Provides insight into the effectiveness of promotional campaigns.
• Gives an indication of the overall customer experience.

Industry Benchmarks

The average price per client for Pilates studios may vary depending on the type of services offered and geographic location. According to industry data, the average price per client for Pilates studios in the United States is around . However, this figure can vary significantly depending on the market.

How to calculate

The average price per customer can be calculated by dividing the total revenue generated by the number of customers served. The formula for calculating the average price per customer is as follows:

Calculation example

For example, if a Pilates studio generated ,000 in revenue and served 100 clients, the average price per client would be 0. The formula to calculate this is:

Tips and tricks

• Track the average price per customer over time to identify pricing trends or changes in customer behavior.
• Analyze customer reviews to identify any areas where improvements can be made to the customer experience.
• Compare the average price per customer to industry benchmarks to identify all potential opportunities.

Conclusion

Clear Key Performance Indicators (KPIs) are critical to success, especially in the fast-paced, competitive world of running a Pilates studio. Tracking and calculating the seven key metrics mentioned above provides insight into how your studio is performing and can help you make informed decisions going forward.

By having a better understanding of your customer base, class bookings, studio utilization, and other key financial metrics, you’ll be well on your way to achieving success with your Pilates studio business.