Yoga Studio Valuation and How Much a Pilates Studio Is Worth
Enter the studio's revenue and owner earnings and read a range benchmarked to what studios actually closed at, whether you are setting an asking price or checking a yoga or Pilates studio for sale before you make an offer.
Estimated business value
Method breakdown
What moves this number
Estimate, not a certified appraisal. Your figures are not stored.
The median US dance, yoga and Pilates studio sold for $135,000 across 2021 to 2025, based on closed BizBuySell sales, on median revenue of $281,709 and median owner earnings of $77,500. Half of sales landed between 1.33x and 2.51x seller discretionary earnings, or 0.41x to 0.78x revenue, after a median 137 days on the market.
On an SBA loan a buyer can draw up to about $52,908 a year at the median price, 1.12 times the $47,160 BLS median wage for fitness trainers and instructors, on about $15,566 of cash at closing. BizBuySell reports yoga and Pilates inside one studio category, so these are the figures for the group, not for yoga alone.
Studios, median asking price against sale price
2021
2022
2023
2024
2025
$90k
0.77
$90k
0.81
$122.5k
0.92
$160k
0.97
$150k
0.91
BizBuySell, dance and fitness studios sold 2021 to 2025. Light bar median asking price, dark bar median sale price, average sale to ask below each year.
Closed transactions
01What yoga and Pilates studios actually sold for
These are dance and fitness studios reported sold on BizBuySell across the five years 2021 to 2025. The source describes the category as dance, yoga, Pilates, HIIT and cardio studios plus boutique and niche fitness shops, mostly independent with some franchise brands, and it does not publish the number of sales or a separate yoga or Pilates line. Larger gyms are counted separately, and we cover them on our gym valuation page. If you have been pricing from a listing site's instant estimate, our comparison of BizBuySell valuation alternatives explains what those tools leave out.
Median sale price
$135,000
What the middle studio actually closed at, 2021 to 2025
Median asking price
$150,000
What the same sold studios were listed at, 11.1 percent above the sale
Median revenue
$281,709
Annual class, membership and retail revenue of the middle studio sold
Median owner earnings (SDE)
$77,500
Seller discretionary earnings, a 27.5 percent owner margin
| Dance and fitness studios, 2021 to 2025 | Lower quartile | Median | Average | Upper quartile |
|---|---|---|---|---|
| Earnings multiple, sold | 1.33x | 1.96x | 2.07x | 2.51x |
| Earnings multiple, current listings | 1.48x | 2.40x | 4.60x | 3.77x |
| Revenue multiple, sold | 0.41x | 0.52x | 0.63x | 0.78x |
| Revenue multiple, current listings | 0.50x | 0.83x | 0.93x | 1.10x |
| Owner earnings, sold | $54,443 | $77,500 | $120,047 | $127,456 |
| Owner earnings, current listings | $54,239 | $102,544 | $116,545 | $151,016 |
| Revenue, sold | $169,908 | $281,709 | $385,227 | $468,089 |
| Revenue, current listings | $158,474 | $253,668 | $456,191 | $514,019 |
Source: BizBuySell dance and fitness studio business valuation benchmarks, studios reported sold on the platform 2021 to 2025, read October 2026. Shaded rows are current and recent listings at their asking prices. The listing earnings multiple average (4.60x) sits above its own upper quartile because a few listings ask far more than the rest. Benchmarks, not quotes.
Three things stand out. First, the readings roughly agree. The median multiple is 1.96x and the median sale over the median earnings is 1.74x. Multiplying the medians gives $151,900, 12.5 percent above the median sale, and the revenue route, $281,709 at 0.52x, gives $146,489, 8.5 percent above. They bracket the $135,000 sale, which is why the page uses ranges and not one number.
Second, the asking price runs ahead of the closing price. The median ask of $150,000 was 11.1 percent above the $135,000 median sale, and sold studios closed at an average 0.88 of ask, the lowest of any health and fitness category in section 07 except dental. Current listings ask a median 2.40x against 1.96x paid, 22.4 percent more. On $77,500 that multiple implies $186,000. A listing at 2.40x should come down.
Third, these are small businesses. The median studio sold did $281,709 of revenue and kept $77,500, and even the upper quartile did $468,089 with $127,456 of earnings. At the lower quartile earnings are $54,443, which at 1.33x is $72,409. A buyer at that size is paying for a membership base and a fitted room, not a large operation.
If you are working out how to calculate SDE for the studio in front of you, start with the owner's own hours teaching. An owner who leads every peak class without a paycheck is doing work a buyer will have to do or pay for, and cash income that never reached the books cannot be financed. Then find your row in section 05.
| Year | Median sale | Median ask | Sale to ask | Average SDE multiple | Average revenue multiple | Median revenue | Median SDE | Margin |
|---|---|---|---|---|---|---|---|---|
| 2021 | $90,000 | $119,000 | 0.77 | 1.62x | 0.40x | $247,429 | $57,400 | 23.2% |
| 2022 | $90,000 | $150,000 | 0.81 | 2.34x | 0.72x | $188,645 | $74,529 | 39.5% |
| 2023 | $122,500 | $136,000 | 0.92 | 1.90x | 0.55x | $281,867 | $69,345 | 24.6% |
| 2024 | $160,000 | $160,000 | 0.97 | 2.25x | 0.82x | $316,378 | $98,000 | 31.0% |
| 2025 | $150,000 | $150,000 | 0.91 | 2.19x | 0.65x | $357,514 | $95,422 | 26.7% |
Source: BizBuySell, same page. From 2021 to 2025 the median sale rose 66.7 percent, median revenue 44.5 percent and median owner earnings 66.2 percent. BizBuySell says many larger studios chose to sell during the pandemic distancing rules, and that prices then returned to earlier levels and leveled off in 2025. The 2022 margin of 39.5 percent on $188,645 of revenue is the kind of reading a small sample produces, so lean on the five-year median of 27.5 percent. In 2025 the median ask equaled the median sale at $150,000, though sold studios still averaged 0.91 of ask.
Our calculation
02The median studio finances, with room for an instructor's salary
Most small business buyers use an SBA 7(a) loan, so what a lender will finance sets a practical ceiling on price. The table runs a business only loan at 10.5 percent over 10 years, 1.25x debt service coverage and a 10 percent injection against the median $77,500 of owner earnings. Studios almost always lease their space, so there is no building loan here. Everything in it is computed here, not quoted.
SBA-supportable price at two owner draws, against the median sale
Scale $0 to $250,000
$135,000
What the median studio sold for.
$166,557
What $77,500 supports at a $47,160 draw (black line).
$233,311
What it supports at a $35,000 draw.
| Owner draw the buyer takes | Left for debt service | Supportable price, 10 years |
|---|---|---|
| $0 (buyer takes no salary) | $77,500 | $425,450 |
| $35,000 | $42,500 | $233,311 |
| $47,160 (the BLS median for fitness trainers and instructors) | $30,340 | $166,557 |
| $52,908 (the most a buyer can draw at $135,000) | $24,592 | $135,002 |
| $60,000 | $17,500 | $96,069 |
| $80,000 | Nothing | Does not finance |
Computed here. Annual loan constant 0.16192 for 10 years at 10.5 percent. Supportable price is (SDE minus draw) divided by 1.25, divided by the loan constant, divided by 0.90. Illustrative arithmetic, not a loan offer or a credit decision.
At $135,000 the loan is $121,500 and the debt service about $19,673 a year. The median earnings cover it 3.94 times and leave $57,827 before the owner pays themselves. With the lender's coverage cushion, a buyer can draw at most about $52,908. For comparison, a gym at its median price of $210,500 has earnings of $99,389, a studio buyer pays about 36 percent less for earnings that are 22 percent lower, and hair salons and nail salons sit in a similar small-ticket band.
Set it against the payroll alternative. The BLS median wage for fitness trainers and instructors is $47,160. An instructor who buys the median studio and keeps teaching can draw about 1.12 times that while the loan builds equity. It is not a rich draw, and it is the reason most studio buyers are teachers, not investors.
Cash to close on the median studio
$15,566
A $135,000 purchase at 10 percent down is a $13,500 injection and a $121,500 loan. Loans of $150,000 or less carry an 85 percent guaranty, so the guaranteed portion is $103,275 and the FY2026 upfront fee of 2 percent is $2,066. Add the lease deposit, insurance and a few weeks of instructor pay on top.
The lower quartile studio
$72,409
That is the lower quartile multiple on lower quartile earnings of $54,443. Those earnings support $79,287 at a $40,000 draw but do not cover a $60,000 draw at any price. A studio this size finances for an owner who teaches and takes a modest salary, which is the typical first purchase for a working instructor.
The lender may value it in house
Under SOP 50 10 8.1 the lender may value the business itself when the price is $350,000 or less and buyer and seller are not closely related. Nearly every studio sale sits under that line, so your estimate and the lender's own analysis may be the only valuations in the deal.
Only reported income finances
A lender underwrites the tax returns, not the seller's story. If part of the revenue is cash that never reached the books, it is not in the SDE the bank will use, and you should not pay a multiple on it. Match card deposits to the booking software for at least two years.
Prepaid packs and memberships are owed
Class packs, annual memberships, gift cards and workshop deposits are classes the buyer must deliver with no cash coming in. Count them from the booking report and agree on a credit at closing.
Sources: SBA SOP 50 10 8.1 (changes of ownership: valuation). FY2026 upfront guaranty fees (SBA Information Notice 5000-872051). BLS Occupational Outlook Handbook, fitness trainers and instructors, May 2025. A summary for pricing, not legal or lending advice.
What makes a studio different
03You buy the teachers, a membership base and a lease
A studio looks like a room and prices like a people business. Mats, props, mirrors and speakers resell for little. What carries the price is instructors who stay, members who renew, bookings that match the bank deposits and a room that stays yours after the handover. Each needs its own evidence before you agree a price.
The instructors and their following
Students book the teacher as much as the room. One or two instructors often teach the classes that fill, and a studio that depends on them is worth exactly as much as their willingness to stay. Ask for attendance by class and by instructor for two years, and for the contract status of each person who teaches.
Memberships, class packs and drop-ins
Recurring memberships are revenue you can plan around. Class packs and drop-ins have to be re-earned every month, and unused packs are a liability. Ask the booking software for active members, monthly churn, pack balances and the share of revenue from each, because a lender and a careful buyer will price those three streams differently.
The lease and the fit-out
A studio is a leased room with a floor, mirrors, a sound system and, for Pilates, reformers. Mats and props resell for almost nothing, and reformers resell for a fraction of new, so the lease and the build-out carry most of the physical value. Read the remaining term, renewal options, rent as a share of revenue and the assignment clause before you agree a price.
Owner earnings as a share of revenue, studios sold
2021
23.2%
2022
39.5%
2023
24.6%
2024
31.0%
2025
26.7%
BizBuySell median revenue and median owner earnings by year of sale. The 2022 reading is an outlier on a small base. The five-year median margin is 27.5 percent.
Franchise brands are in the data
BizBuySell says many franchise brands operate in this category, though most established studios sold are independent. If the studio you are pricing is a franchise unit, read the franchise agreement for transfer approval, fees and any required remodel before you agree a price, because those terms sit on top of the multiple.
Yoga and Pilates are not priced separately
The sold record does not split them, so any yoga only or Pilates only multiple you see is a broker's opinion or a listing, not a closed sale. A reformer Pilates studio carries more equipment and a smaller room, a yoga studio carries more floor space and cheaper gear. Use the group ranges here as the frame and adjust for your own studio's records.
Sources: BizBuySell dance and fitness studio benchmarks, 2021 to 2025. A summary for pricing, not legal or tax advice. Licensing, waiver and employment rules, including whether instructors are employees or contractors, are set by each state.
Our calculation
04What the studio is worth if you will not teach in it
Seller discretionary earnings include the owner's pay, and in most small studios the owner teaches the busiest classes. A buyer who will not do that has to pay someone who will. The rows below use the Bureau of Labor Statistics median wage for fitness trainers and instructors, May 2025, plus employer FICA. It is a floor for an experienced teacher with a following, not a quote.
The same $135,000 price
1.74x
to an owner who keeps teaching
5.05x
instructor hired to replace the owner
| Who teaches | Earnings left | Price as a multiple | SBA-supportable, 10 years |
|---|---|---|---|
| Owner keeps teaching | $77,500 | 1.74x | $135,000 at a $52,908 draw |
| Owner stops, hires an instructor at the BLS median ($50,768) | $26,732 | 5.05x | $146,752 at no draw, or $135,000 at a $2,141 draw |
Computed here. BLS Occupational Outlook Handbook, fitness trainers and instructors: median $47,160 a year, May 2025, plus 7.65 percent employer FICA, $50,768.
To an owner who keeps teaching, $135,000 is 1.74x earnings, inside the middle half of sales. Replace the owner with a hired instructor at the BLS median and $26,732 of the $77,500 is left, so the same price is 5.05x, far above the upper quartile of 2.51x, and the owner draw at that price is about $2,141 a year. A studio that needs a hired teacher to replace the owner is a poor investment at the median price, and this is the single most useful number on the page for a buyer who is not a teacher. It is why a studio run by a manager should sell on its managed earnings, and why a seller who has been paying themselves nothing is overstating what the room earns.
Find your row
05What a studio at your earnings is worth
Each row takes an earnings level and prices it at the lower quartile, median and upper quartile multiple, next to what an SBA buyer could finance on a 10 year business loan at a $40,000 and a $60,000 owner draw.
| Owner earnings (SDE) | At 1.33x | At 1.96x | At 2.51x | SBA, $40,000 draw | SBA, $60,000 draw |
|---|---|---|---|---|---|
| $54,443 (lower quartile sold) | $72,409 | $106,708 | $136,652 | $79,287 | Does not finance |
| $77,500 (median sold) | $103,075 | $151,900 | $194,525 | $205,863 | $96,069 |
| $95,422 (2025 median sold) | $126,911 | $187,027 | $239,509 | $304,249 | $194,455 |
| $102,544 (median current listing) | $136,384 | $200,986 | $257,385 | $343,346 | $233,553 |
| $127,456 (upper quartile sold) | $169,516 | $249,814 | $319,915 | $480,105 | $370,312 |
Computed here. SBA columns on the same terms as section 02, before working capital. "Does not finance" means the earnings do not cover the draw. Illustrative arithmetic, not a loan offer.
From the median up, a buyer drawing $40,000 can finance more than the upper quartile price. A $60,000 draw is where it gets tight: the median earnings then support $96,069, below the $135,000 median price, so a buyer who wants that salary at the median price needs about $84,591 of earnings, or a seller note. For most buyers the loan is not what limits the price. What limits it is the risk in the instructors and the books. A buyer who can verify the attendance history and keep the team is buying earnings at a discount. If your numbers sit between rows, the estimator at the top of the page will place them.
Value drivers
06What moves a studio between the quartiles
The distance between the lower and upper quartile multiple is 1.33x to 2.51x, which on $77,500 of earnings is the difference between $103,075 and $194,525. The scale shows where the published readings fall, and how far hiring an instructor pushes the same price.
Studio earnings multiples on one scale
0x to 5.5x
1.33x
Lower quartile
1.74x
Median sale over median SDE
1.96x
Median multiple
2.51x
Upper quartile
5.05x
Median price with an instructor hired
BizBuySell dance and fitness studio benchmarks, 2021 to 2025. Dark band, 1.33x to 2.51x, the middle half of sales. The 1.74x and 5.05x readings are computed here.
Revenue and size
The lower quartile studio sold had $169,908 of revenue and $54,443 of owner earnings, which at 1.33x is $72,409. The upper quartile had $468,089 and $127,456, which at 2.51x is $319,915. Revenue rises 2.8 times between the two. The price rises 4.4 times.
Owner involvement
BizBuySell says low owner involvement pushes a multiple to the upper quartile, and full-time owner involvement pushes it to the lower. An owner who teaches every peak class is selling a job. An owner who manages a team and teaches a few classes is selling a business.
Instructor tenure and retention
Ask how long each teacher has been there, what share of attendance each one draws and whether any plans to leave or open nearby. A lead instructor walking out in the first year can take a large share of the regulars along.
Consistency and growth
BizBuySell lists consistent financial performance and demonstrable growth potential among the traits that earn an upper quartile multiple. Three years of rising, reported revenue is worth more than one strong year.
Competition and location
Many direct competitors push a multiple toward the lower quartile. A studio with a loyal membership in a market with several others is less risky than one living on walk-in traffic, and the lease decides how long that room is yours.
Seller financing
BizBuySell counts a seller willing to finance among the traits of upper quartile deals. A seller note keeps the seller invested in the handover, and it can bridge a gap between what the earnings support and what the seller wants.
Quartile revenue and earnings paired with quartile multiples, illustrative
$72,409
Lower quartile studio
1.33x on $54,443, revenue $169,908
$135,000
Median studio
sold, 1.74x on $77,500, revenue $281,709
$319,915
Upper quartile studio
2.51x on $127,456, revenue $468,089
Computed here. Quartile values from BizBuySell, paired for illustration; no single studio is necessarily at the same quartile on both. Revenue rises 2.8 times from the lower to the upper quartile; value rises 4.4 times.
Against other health and fitness businesses
07Studios against gyms, dental practices and medical practices
BizBuySell says studios skew toward the low end of the group on revenue and typically sell at lower multiples, though they appear to get a slight premium for their size. The table agrees on the first part. Studios sell at 1.74 times median earnings, the lowest of the seven categories, and at a median $135,000, also the lowest. Their 27.5 percent owner margin is the third highest, behind assisted living and medical practices. See gym valuation, dental practice valuation, home care business valuation and SDE multiples by industry for the wider market.
| Category | Median revenue | Median SDE | Average revenue multiple | Average SDE multiple | Median sale over median SDE | Owner margin | Median sale | Sale to ask |
|---|---|---|---|---|---|---|---|---|
| Dance and fitness studios | $281,709 | $77,500 | 0.63x | 2.07x | 1.74x | 27.5% | $135,000 | 0.88 |
| Gyms and fitness centers | $400,000 | $99,389 | 0.71x | 2.55x | 2.12x | 24.8% | $210,500 | 0.89 |
| Dental practices | $557,518 | $149,838 | 0.77x | 2.63x | 2.34x | 26.9% | $350,000 | 0.84 |
| Medical practices | $790,052 | $227,196 | 0.76x | 2.37x | 2.13x | 28.8% | $485,000 | 0.97 |
| Home health care | $1,300,000 | $263,436 | 0.63x | 3.01x | 2.66x | 20.3% | $700,000 | 0.92 |
| Assisted living and nursing homes | $551,785 | $168,000 | 1.35x | 4.25x | 3.63x | 30.4% | $610,000 | 0.94 |
| Other health care and fitness | $742,950 | $200,000 | 0.75x | 2.71x | 2.25x | 26.9% | $450,000 | 0.91 |
Source: BizBuySell health and fitness business valuation comparison, 2021 to 2025. Median sale over median SDE and owner margin (median SDE over median revenue) computed here. The shaded row is dance and fitness studios.
For a buyer the opportunity is the gap between earnings and price. A studio earns $77,500 and sells for $135,000. A gym earns $99,389 and sells for $210,500, or 2.12 times, and a dental practice earns $149,838 and sells for $350,000. The discount is paid for in dependence on a few teachers and in how little the room is worth without them, which a buyer who can teach, or who can keep the lead instructors on a contract, can price better than the market does.
Methods
08The five ways a studio gets valued
You will meet most of them in one sale. The lender counts earnings after the owner's salary, a multi-studio operator talks EBITDA, an equipment dealer quotes resale value, and an instructor buying a first studio usually starts from SDE. Knowing which one the other side is using is most of the negotiation.
Seller discretionary earnings multiple
The primary method for an owner-taught studio and the one an SBA lender underwrites. Normalized SDE times a multiple, where half of all sales landed between 1.33x and 2.51x. Normalize first: the owner teaching without a paycheck, family on payroll, personal expenses and cash income that never reached the books.
Revenue multiple
Studios sold at a median 0.52x revenue and an average 0.63x, a band from 0.41x to 0.78x. On the median revenue that is $146,489 at the median multiple, 8.5 percent above the median sale. It is a cross-check, not a verdict, because revenue says nothing about what the owner takes out of it.
Adjusted EBITDA multiple
Multi-studio operators and franchisees price on earnings after a market wage for the person who runs the room. For a single studio that wage is the whole story: paying an instructor the BLS median leaves $26,732 of the median $77,500.
Comparable sales
Brokers and lenders go to local comps first. The national sold quartiles on this page are the context, and a studio with revenue near the upper quartile of $468,089, a team that teaches without the owner and a long lease belongs near the top of the range.
Asset approach
The floor for a studio that is losing money: reformers, flooring, mirrors, sound and fixtures at used resale value, plus any lease value. A buyer paying close to that is buying a fitted room, not earnings.
Our guide to business valuation for an SBA loan lists what the lender will ask for, and business valuation cost shows what each kind of report costs. On a $135,000 studio, a $1,500 to $8,000 calculation engagement is 1.11 to 5.93 percent of the price, and a $5,000 to $15,000 conclusion of value is 3.70 to 11.11 percent, which is why most studio deals start from an estimate.
Questions
Yoga and Pilates studio valuation questions, answered against the sold record
How much is a yoga studio worth?
The median US dance, yoga and Pilates studio sold between 2021 and 2025 went for $135,000, on median revenue of $281,709 and median owner earnings of $77,500. Half of all sales landed between 1.33x and 2.51x owner earnings, which on $77,500 is $103,075 to $194,525. Instructor retention and owner involvement decide where a studio lands.
How much does a yoga studio sell for?
Closed BizBuySell sales from 2021 to 2025 put the median studio at $135,000, against a median asking price of $150,000. By year the median sale was $90,000, $90,000, $122,500, $160,000 and $150,000 for 2021 through 2025. Sold studios closed at an average 0.88 of their asking price.
What multiple is a yoga studio sold at?
Studios sold at a median 1.96 times seller discretionary earnings and an average of 2.07x, with a lower quartile of 1.33x and an upper quartile of 2.51x. On revenue the median was 0.52x and the average 0.63x. Dividing the median sale by the median earnings gives 1.74x.
How do you value a Pilates studio?
Normalize the owner earnings, then apply a multiple between about 1.33x and 2.51x, higher for larger studios with teachers who do not depend on the owner. Cross-check against revenue at 0.41x to 0.78x, review membership and attendance records and the lease, and test what an SBA lender would finance at the salary you need.
How much do yoga studio owners make?
The median studio sold between 2021 and 2025 produced $77,500 of owner earnings on $281,709 of revenue, a 27.5 percent margin. In 2025 the median was $95,422 on $357,514. Those earnings usually include the owner teaching, so part of them is pay for a job BLS prices at a $47,160 median for fitness trainers and instructors.
Are yoga studios profitable?
The ones that sell are. The median studio sold from 2021 to 2025 kept $77,500 of owner earnings on $281,709 of revenue. The margin has moved: 23.2 percent for 2021 sales, 39.5 percent in 2022, then 24.6, 31.0 and 26.7 percent. Single years rest on few sales, so lean on the five-year median.
Can you get an SBA loan to buy a yoga studio?
Yes. At the $135,000 median the loan is about $121,500, and the median $77,500 of earnings covers the debt service 3.94 times. A buyer can draw up to about $52,908 a year at that price. Because the price is under $350,000, the lender may value the studio in house instead of ordering an appraisal.
Is buying a yoga studio a good investment?
On the sold record it is one of the cheaper ways to buy earnings in health and fitness, at 1.74 times median earnings. An instructor who buys the median studio can draw about $52,908, 1.12 times the $47,160 BLS median. The risks are teacher turnover, membership churn, the lease and income that is not on the books.
How long does it take to sell a yoga studio?
BizBuySell reports a median of 137 days on the market for dance and fitness studios that sold, a little over four months from listing to an accepted deal. Lender review and any landlord consent to a lease assignment usually add several weeks before closing.
Do yoga studios sell for the asking price?
Not quite. Sold studios closed at an average 0.88 of their asking price, and the median sale of $135,000 was 90.0 percent of the $150,000 median ask. Current listings ask a median 2.40 times earnings against 1.96 times paid, so most asking prices have room to come down.
How much does a yoga studio valuation cost?
A calculation engagement from a credentialed appraiser typically costs $1,500 to $8,000, and a full conclusion of value $5,000 to $15,000. On a $135,000 studio that is 1.1 to 5.9 percent for a calculation and 3.7 to 11.1 percent for a conclusion, which is why most studio deals start from an estimate against closed sales.
Benchmarks behind the estimate
Buying or selling an owner-run fitness or wellness business
Know the range before you sign a letter of intent
Enter revenue and owner earnings, for your own studio or for one you are considering, and read a value range against real studio sales. An estimate in a few minutes, before you pay a broker or an appraiser.