Most first-time studio founders underestimate one line and overestimate another. Equipment gets the most attention in planning conversations, but it's rarely the line that catches people out: fit-out costs and working capital are. Here's a realistic range for each, based on more than ten years around studio operations.
Where the money goes
- Lease and fit-out: £60,000 to £180,000. Deposit, build costs, flooring, mirrors, lighting and changing facilities. Varies hugely with unit condition and location.
- Reformers and equipment: £30,000 to £70,000. 8 to 12 reformers plus props, sound and studio tech. Buying new or reconditioned is the biggest swing factor.
- Brand and digital: £8,000 to £25,000. Naming, identity, launch site and a booking journey that can sell founding memberships before you open.
- Working capital: £15,000 to £40,000. Rent, payroll and marketing to cover the first three to six months, before membership income is consistent.
- Licensing and insurance: £2,000 to £6,000. Business insurance, instructor certifications, and local permits or licensing depending on your city.
All in, most independent reformer studios open somewhere between £115,000 and £320,000, depending on city, unit size and how many reformers the space can hold. London and other major cities sit at the top of that range; secondary cities and smaller units sit toward the bottom.
Where founders overspend
Fit-out is the easiest place to lose control of a budget: acoustic flooring, ventilation for a full class of moving bodies, and changing facilities all add up fast once a fit-out is underway. Get a fit-out quote before signing a lease, not after.
Where founders underspend
Brand and digital is consistently the smallest line item, and consistently the one with the most leverage. A studio that can sell founding memberships before its doors open changes the entire cash position for the first six months. That's a brand and website problem, not an equipment one.
If you're working through your own numbers and want a second opinion on where your budget should go, we're happy to talk it through.