IBISWorld, a leading market research company, has just updated their projections for the Pilates and yoga studio industry. The forecast is positive. According to IBISWorld, the Pilates and yoga studio industry reached its peak growth in 2003. However, the industry has continued to grow and grew an average of 7.7% over the past 5 years. IBISWorld expects Pilates and yoga studio revenue to show over 5% growth in 2012 and that trend to continue over the next 5 years.
Expanding into new geographic regions and meeting increased consumer demand has been supporting the growth of Pilates and yoga over the past five years, says IBISWorld. Moving forward, they suggest that increased participation from men and from baby boomers will be significant influences in growth and sustainability. IBISWorld statistics in this report do not include Pilates and yoga in clubs and gyms, but they do say that consumer participation at those venues is expected to stay strong as well.
That's the good news report for the weekend. If you are a studio owner and your personal report isn't quite a rosy as that of IBISWorld, just know you are not alone. Many Pilates studios are doing well, but I know some have struggled right along with the economy. Again, geography seems to be a big factor. Nevertheless, a report like this is encouraging. If you would like a boost an the marketing side, we have some tips for you. See: Business Marketing for Pilates and Yoga.
A report such as this update from IBISWorld might also have put you right over the edge into finally deciding to become a Pilates instructor. If so, here are some links to get you started: