Is It Time to Grow? Evaluating Expansion for Our Assisted Stretch Studio
My wife and I are the proud owners of an assisted stretch studio, where we focus on providing personalized stretching sessions to our clients. Operating out of a modest office space, we manage overhead expenses that include rent and utilities, totaling around $600 monthly. Our efforts result in approximately 50 sessions each week, generating a gross income of about $12,000 per month.
The intimacy of our current setting, however, means we can only accommodate one client at a time. With business going strong, we are contemplating whether it’s time to relocate to a larger space—a move that would allow us to handle multiple sessions simultaneously, particularly during peak demand periods. This could potentially increase our revenue by maximizing session availability.
But, there’s a catch. We’ve only been in business for eight months, and the idea of tripling our operational expenses is a bit intimidating. Doubling our session capacity holds promising prospects, yet the financial risk of expanding too soon cannot be overlooked.
Should we make the leap now, or is it wiser to wait for further business growth before committing to a larger space? We’re weighing the possibilities and seeking advice on whether this is the right moment to expand our horizons.
One Comment
It’s great to see the passion you and your wife have for your assisted stretch studio, and it’s understandable to feel both excited and apprehensive about expansion. Given your current success, it sounds like you’re at a crucial decision point. Before making any major moves, consider conducting a thorough analysis of your client demand, peak hours, and possibly even surveying your current clientele to gauge their interest in additional sessions or class offerings.
Additionally, think about implementing a phased approach to expansion. Perhaps start by introducing a limited number of additional time slots or even group sessions, which could help offset some costs while testing the waters for increased client capacity. You could also explore whether partnerships or collaborations with local gyms or wellness centers might allow you to utilize shared spaces during off-peak hours, minimizing your risk.
Moreover, reflecting on your brand story and how the intimate atmosphere has set you apart could also inform your decision. As you grow, maintaining that personalized touch is crucial. Keeping a close eye on your financial metrics will help you make better-informed choices. In this way, you can balance ambition with practicality, ensuring that any expansion complements and enhances the core values of your business. Best of luck, and I look forward to hearing about your journey!