Should I go freelance or take the plunge and open a Studio?
If the last 12 months have taught us anything, it’s that life is uncertain and that business large and small are vulnerable. We have also seen dramatic shifts in consumer behaviour that are likely to be long-term or even permanent. But there is no getting away from the fact that human beings thrive on social contact, so dedicated spaces to workout in will always (global pandemics aside) be commercially viable and have the potential to become community hubs.
If you’ve had a look at our 101 sheet on costs, you’ll get a good understanding of all the hidden and not-so-hidden costs involved in running a Studio. It is not simply a case of assessing whether you can afford just the rent on a studio space, but if you can make it work, there is nothing more rewarding than owning your own environment, having the freedom to use it any time you wish and being able to build a thriving community and sought-after destination.
You might wish to take a conservative approach and start out in a freelance capacity, hiring space on an hourly basis or taking regular slots at an established studio for an hourly rate. This will give you the opportunity to see how a Studio operates, how much work is involved and what lies behind-the-scenes before you take the plunge yourself. It will also give you the chance to build up a loyal clientele and the confidence to set up on your own. Be aware of confidentiality clauses that may (justifiably) prevent you from luring clients away or offering private tuition independently of the Studio. Be respectful to the amount of investment that has gone into establishing their business, but open your eyes, get curious and ask questions that will help you, in your own time, to create your own space and client base.