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 2024 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 2024 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 2021, 2022, and 2023, based on Item 20 of the company’s 2024 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 2024 FDD, including information on the:

• 2023 average gross sales, cost of goods sold, gross profit, normalized expenses, and net income for the top 25%, bottom 25%, and all 16 Bodybar Pilates studios that were open every month between January 1, 2023 and December 31, 2023 (the “Included Studios”)

• 2023 average, median, high, and low number of members and revenue per member per month for the Included Studios for the Included Studios

• number of founding memberships sold for 11 studios that completed their presale membership drive during the 2023 calendar year

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

• Initial Franchise Fee:  $49,500
• Travel and Living Expenses While Training:  $3,500 to $10,339
• Bodybar Pilates Instructor Training Program:  $7,500 to $9,000
• Real Estate/Lease:  $6,050 $19,135
• Leasehold Improvements:  $61,580 to $335,980
• Pilates Equipment Package:  $89,225 to $103,955
• Millwork, Audio, and Visual Items:  $5,225 to $59,645
• Signage:  $11,665 to $20,495
• Computer System and Equipment:  $1,200 to $12,700
• Initial Inventory Kit:  $12,000
• Advertising/Marketing (including Grand Opening Program costs):  $10,000 to $25,400
• Insurance:  $1,750 to $4,200
• Shipping:  $1,905 to $12,500
• Professional Fees:  $5,000 to $54,820
• Additional Funds – 3 Months:  $18,000 to $65,000
• Total Estimated Bodybar Pilates Franchise Costs:  $284,100 to $794,669

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

• 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

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

2023

• Outlets at the Start of the Year:  14
• Outlets at the End of the Year:  25
• Net Change:  +11

Company-Owned

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

2023

• 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

Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Bodybar Pilates Franchise (Item 19, 2024 FDD)

• As of December 31, 2023, there were 25 open Bodybar Pilates Studios. This Item sets forth historical profit and loss and membership information of 16 of the 25 Bodybar Pilates Studios (the “Included Studios”) that were open every month between January 1, 2023 and December 31, 2023 (the “Measurement Period”). Of the 16 Included Studios, two opened for business on January 30, 2023. Your Studio will be substantially similar to the Included Studios.

• Excluded from this Item are nine Studios that opened on or after March 17, 2023 and otherwise were not open for business during at least one day of the 12-month Measurement Period.

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

Part 1 – Average Gross Sales, Cost of Goods Sold, Gross Profit, Normalized Expenses, and Net Revenues

• Part 1 discloses the average Gross Sales, average Cost of Goods Sold, average Gross Profit, average Normalized Expenses, and average Net Income of the Included Studios during the Measurement Period. Also profiled are the top 25% and bottom 25% of the Included Studios.

• 15 of the 16 Included Studios operate 14 Pilates Reformers, and one operates with 12 Reformers. As a franchisee, your Studio will be required to operate either 12 or 14 Reformers.

• Included in this Item 19 are three Studios owned by Bodybar Pilates’ officers Kamille and Matt McCollum. These units operate under franchise agreements with Bodybar Pilates.

Included Studios

• Number of Included Studios:  16
• Average Gross Sales:  $628,760 (100.0%)
• Average Cost of Goods Sold:  $27,728 (4.4%)
• Average Gross Profit:  $602,765 (95.9%)
• Average Normalized Expense:  $454,536 (72.3%)
• Average Net Income:  $148,229 (23.6%)

Top 25%

• Number of Included Studios:  4
• Average Gross Sales:  $885,191
• Average Cost of Goods Sold:  $39,699
• Average Gross Profit:  $845,492
• Average Normalized Expense:  $611,856
• Average Net Income:  $233,636

Bottom 25%

• Number of Included Studios:  4
• Average Gross Sales:  $412,106
• Average Cost of Goods Sold:  $11,694
• Average Gross Profit:  $403,335
• Average Normalized Expense:  $330,323
• Average Net Income:  $73,013

• Gross Sales is defined as all revenues from the sale of memberships, late/cancel no-show fees, instructor training fees, and retail sales.

• Cost of Goods Sold is the cost of goods purchased to sell in the studio.

• Gross Profit is the difference between Gross Sales and Cost of Goods Sold.

• Normalized Expenses are certain common expenses shared by the Included Studios comprised of accounting fees, advertising and promotion costs, independent contractor fees, insurance, marketing fund contributions, merchant services, office and general administrative, rent, repairs and maintenance, royalty, sales tax, supplies, technology fees, telephone expense, and utilities. It doesn’t include debt payments, interest payments, and uncommon expenses, such as charitable giving, meals, entertainment, and travel.

• Net Income is the difference between Gross Profit less Normalized Expenses.

• Top 25% is defined as the 4 Studios with the highest Gross Sales. Bottom 25% is defined as the 4 Studios with the lowest Gross Sales.

Part 2 – Average Membership and Revenue per Member per Month

• Part 2 displays the relationship of revenue per member per month to overall Total Income. This shows you the Average Membership number per month for All Included Locations and for the Top 25%. It further shows the Average Revenue per Member per Month for All Included Locations and for the top 25%

Members

• Average for All Included Studios:  290
• Number Above/Below Average:  8/8
• Percentage Above/Below Average:  50%/50%
• Median:  294
• High:  489
• Low:  161
• Average Top 25%:  396

Revenue per Member per Month

• Average for All Included Studios:  $181
• Number Above/Below Average:  9/7
• Percentage Above/Below Average:  56.25%/43.75%
• Median:  $179
• High:  $205
• Low:  $153
• Average Top 25%:  $186

Part 3 – Presale Founding Memberships

• Part 3 shows the Founding Memberships sold for 11 studios that completed their presale membership drive during the Measurement Period.

• Beginning 12 to 16 weeks prior to the opening of your Studio, you will conduct a presale membership drive offering “Founding Members” a discounted Studio membership, so that when you begin operating you have membership revenue from the day you open for business.

• The table below discloses the total number of Founding Membership sold during the presale period by studios located in the particular state referenced.

• ID (open since 01/2023):  153
• TX (open since 01/2023):  173
• FL (open since 03/2023):  214
• FL (open since 07/2023):  180
• IL (open since 03/2023):  93
• TX (open since 06/2023):  158
• AL (open since 07/2023):  190
• UT (open since 08/2023):  130
• NJ (open since 11/2023):  282
• FL (open since 12/2023):  221
• GA (open since 12/2023):  97
• Average:  172
• High:  282
• Low:  97

• Some outlets have earned this amount. Your individual results may differ. There is no assurance that you’ll earn as much.

• The figures above do not include certain costs associated with the establishment and operation of a Studio, including initial franchise fees; build-out and equipment costs; technology and other studio costs able to be capitalized. There may be other costs and other expenses not identified in this Item 19.

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