Summary
Flex Studios has been operating for 12+ years and offers a range of heated & non heated yoga & pilates classes to a committed community. Fantastic opportunity with ample room for growth.
Revenue
$19,000 pm
Rent
$6,017 pm
Location Details
Ascot Vale is an inner-city suburb in Melbourne, VIC, 6 km north-west of Melbourne's CBD.
Flex Studios is located on Mt Alexander Road with ample traffic passing by daily and plenty of street exposure and parking on site and in surrounding streets.
Potential
Well established for 12+ years (previously as Bikram Yoga Ascot Vale), with a loyal and growing customer base, Flex Studios can continue to operate as is, or has large growth potential for the right owner.
In October 2023, reformer pilates was introduced to the studio with 8 brand new reformer beds adding an additional revenue stream for the business.
There is ample opportunity to add additional products or services for further growth.
Skills
Flex Studios could be run by a passionate owner / operator with qualifications to teach yoga and / or pilates, or by a business orientated owner happy to manage the back end and team of teachers.
The current owner is prepared to provide proper training and handover for the new owner as required.
Hours
Flex Studios is open 7 days a week. With a team of existing teachers, owners can choose part or full time work.
Lease
Current long term lease was renewed in February 2023 until February 2026 with an additional term for renewal available.
Employees
A team of 10 active teachers with additional substitute / standby teachers, as well as volunteer 'Studio Angels' who assist with cleaning and tidying tasks. Many of the teaching team have been at the studio for 5+ years.
Reason for Sale
The current owners, Bek and Madi, absolutely love the Flex Studios business and community. The covid pandemic resulted in them both pursuing alternate career and family opportunities and they have determined that Flex Studios is ready for the next passionate owner. They are invested in the future success of this business and prepared to give ample handover and training to new owner as required. Teachers and students are aware that the business is for sale.
About the Business
Flex Studios offers a well loved variety of heated and non-heated Yoga and Pilates classes and current students love having the options of different classes and teachers. Current class styles offered include:
• Bikram Hot Yoga (26 &2) – Original 90 m and 60 m express
• Vinyasa Yoga (heated and unheated)
• Yin Yoga
• Mat Pilates (heated and unheated)
• Hot HIIT Pilates
• and now Reformer Pilates (introduced October 2023)
The studio has:
• Large mat studio able to accomodate 24 students comfortably
• Existing heating systems able to heat large studio
• New Reformer studio with 8 brand new beds purchased in October 2023
• Male and Female change rooms, toilets and showers
• Lockers for students
• Large reception areas
• Staff kitchenette
• Some onsite parking and ample parking nearby
• Retail display with merchandise and props
• Drinks fridge
• Very large garage space which has potential to be converted to another studio
Included in the purchase is:
• All business names and accounts required to continue business operations as is (or option to purchase without branding, if you already have your own)
• Fully functional website and branded Flex Studios app
• Social media accounts with strong active following (5k+ on instagram, 3k+ on facebook)
• 8 reformer beds purchased new in October 2023 worth over $35,000
• Equipment for yoga classes including blocks, bolsters, straps etc
• Equipment for pilates classes including dumbells, pilates balls, magic circles etc
• Branded prizes for reward recogntion program (keyrings, sweat towels, tote bags, keep cups)
• Pre-written policies, procedures, and staff agreements
The clientele is a diverse range of students aged 18 - 70, with a good mixture of male and female students. Most students are well engaged in the community element of the studio and are celebrated through the existing reward recognition program with branded prizes. Clients primarly come to the studio for enjoyable movement and increased fitness, but also enjoy the mindful practises on offer.
This is a fabulous opportunity for an existing teacher(s) to step up into ownership, or a passionate student(s) interested in the health and fitness industry.
History
Operating for over a decade, many clients have been attending the studio for years. There is a steady and strong client base with a number of students acheiveing their 1000 and 2000 class milestone, and new faces visiting the studios almost daily with lots of growth potential.
A 2019 rebranding to Flex Studios involved new signage, new website, new colour scheme and internal decor and lots of fresh paint which saw a decent increase in new attendance.
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