Studio Pilates InternationalFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Studio Pilates International franchise requires a total initial investment of $510K – $874K, including a $50K franchise fee and an ongoing 8.0% royalty[2]. Per the 2025 FDD, average unit revenue was $889K[2]. SBA 7(a) loans show a 0.0% charge-off rate across 18 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 21, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $510K – $874K
- 85th pct Health & Fitn…
- Avg gross sales
- $889K
- 44th pct Health & Fitn…
- Royalty
- 8.0%
- 55th pct Health & Fitn…
- Units
- 12
- 41st pct Health & Fitn…
- SBA default
- 0.0%
- system-wide median varies by category
Quick verdict · Health & Fitness · color = vs category peers
Green = >15% above Health & Fitness avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Only 0.0% of 18 SBA loans charged off, well below the 16% franchise average.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $510K – $874K including a $50K franchise fee, 8.0% ongoing royalty.
- Average unit revenue of $889K/year (median $963K).
- Verdict A (Top Quintile) with a risk score of 49/100. SBA loan charge-off rate of 0.0% across 18 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- Auditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- STUDIO PILATES INTERNATIONAL USA CORP.
- Parent company
- Studio Pilates International Pty Ltd
- Incorporated in
- DE
- HQ
- 246 Hawthorne Road, Hawthorne Queensland 4171, Australia
- Auditor
- Forvis Mazars, LLP
- Audited financials
- Franchisor revenue
- $450K
- vs $1.9M prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
Franchisees operate boutique pilates studios offering reformer and mat pilates classes, typically in 2,000–3,500 sq ft leased spaces. Day-to-day operations include scheduling classes, managing instructors, marketing to local members, handling recurring membership billing, and maintaining equipment. Revenue is primarily membership-based with ancillary income from retail and private sessions.
- CEO
- Jade Michael Winter
- Founded
- 2018
- FDD year
- 2025
- States available
- 8
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $10K | $25K |
| Equipment, build-out, other | $450K | $799K |
| Total initial investment | $510K | $874K |
Source: Studio Pilates International 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$249K
28.0% margin
Unlevered ROIC
35%
EBITDA / total invested capital
Payback
34 mo
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $510K – $874K
- Below avg, review vs category
- Liquid capital req'd
- $10K – $25K
- Better than avg vs category
- Franchise fee
- $50K – $50K
- Near category avg vs category
- Royalty
- 8.0%
- Gross Sales · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $19K |
| Transfer fee | $25K |
| Renewal fee | $13K |
| Total fee load | 10.0% of rev |
Financial Performance
- Avg gross sales
- $889K
- Per unit, per year
- Median gross sales
- $963K
- Item 19 type
- gross_sales
- Sample size
- 7 units
- vs category median 11
- Range (low → high)
- $537K→$1.4M
- Cohort dispersion (min → max)
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 180 Health & Fitness brands
vs Health & Fitness averages
How Studio Pilates International Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 12
- Opened
- 7
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (yr3)
- +140.0%
- Net unit change last year
- 3-yr CAGR
- +200.0%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 17 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 18
- Loan volume
- $5.2M
- Median loan
- $365K
- 50th percentile
- Charge-off rate
- 0.0%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 4
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Studio Pilates International's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 4 lenders with concentration factor
- Per-state charge-off rates across 6 states
- Startup risk premium and job creation velocity
- 3-year lending trend
Instant access. No subscription.
With a 0.0% charge-off rate across 18 loans, banks have historically viewed this brand favorably for lending.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Studio Pilates International presents moderate-to-elevated risk due to undisclosed profitability metrics, explosive but potentially unsustainable unit growth, and a small system competing in a crowded boutique fitness category.
Audited financials (Item 21)
Yes · Forvis Mazars, LLP⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 49 / 100 rating
- 01MEDNet income not disclosed in FDD despite $888,774 average revenue — unable to validate actual profitability or ROI timeline
- 02MINORExtreme unit growth of 140% YoY (from ~5 to 12 units) suggests either aggressive expansion or recent refranchising; sustainability unclear
- 03MEDHigh investment range ($510K-$874K) against undisclosed net income creates opacity on payback period and break-even analysis
- 04MINORPilates boutique market is saturated with established competitors (Reformer Pilates, Club Pilates, Pure Barre); differentiation strategy not evident
- 05MED12-unit system remains very small; limited brand recognition and marketing leverage compared to competitors with 200+ locations
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius / Demographics |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | No |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 158 hrs
- On-the-job training
- 76 hrs
- POS system
- Mindbody
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Mindbody
Item 20 · call current owners
Franchisee Contacts
22 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Studio Pilates International · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Studio Pilates International franchise?
The total investment to open a Studio Pilates International franchise ranges from $510K – $874K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Studio Pilates International franchise owners earn?
According to Item 19 of the Studio Pilates International FDD, the average gross sales per unit is $889K. The median is $963K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Studio Pilates International's franchise failure rate?
Based on SBA 7(a) loan data, Studio Pilates International has a charge-off rate of 0.0% across 18 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Studio Pilates International franchise locations are there?
As of their most recent FDD filing, Studio Pilates International has 12 total units in the United States, including 4 franchised units and 0 company-owned units. 7 new units were opened in the latest reporting year.
Is Studio Pilates International a good franchise to buy?
FranchiseVerdict rates Studio Pilates International as a A-grade franchise with a risk score of 49 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.