Behind the Numbers is our ongoing look into successful businesses. We interview studio owners, and the people behind the success to find out how they use data to make better decisions. Here is our sixth edition with studio owner, Silviya Mihaylova, owner of Swet Studio
1. Tell me about yourself and your business.
I generally try to shy away from talking about myself, but would love to tell you about Swet Studio. We are a local, Boston fitness studio, which offers cutting edge classes such as the state’s only AntiGravity® aerial classes and a variety of indoor rowing and HIIT classes. In addition to our classes for adult practitioners, we are excited to be launching an AntiGravity Kids® program, where children can learn the practice, it’s truly unique and definitely fun.
2. How did you get exposed to the wellness industry and eventually become a business owner?
After moving to the United States, I started working out, and fell in love with it. I discovered that wellness is more then just about “getting in shape,” its really a way of life. From there, it just became the natural evolution to operate a studio.
3. What’s your favorite part of owning a studio?
For me, its about the clients and making a difference in their lives. Also, I really love the challenge of building something from the ground up and seeing it come to fruition.
4. What is your biggest challenge as a studio owner?
There is a tremendous amount of juggling in operating a fitness studio, from managing the numbers to making sure we are offering a top notch service to the public.
5. As a franchise owner, are you responsible for your own marketing and social media efforts? What is the most successful marketing channel that you use?
We are actually a local, Boston fitness studio and teacher training center and not a big corporate franchise like McDonalds. As such, we do all of Swet marketing by word of mouth. The biggest channel for Swet Studio has been its clientele. We are grateful to have the support of our members.
6. What business numbers & metrics have you found beneficial to gaining insight into your business?
It has been very helpful to be able to track which classes not only generate the most interest, but to be able to examine the retention rates and how various instructors are performing.
7.) What specific data and strategies do you use to gain new members? What about for retaining existing members?
The most important for us is delivering a personal service, both for getting people in the door and ultimately retaining them as members. People might come, at first, for the novelty of performing inversions while suspended in the air in a silk hammock but it’s a little scary at first. We keep our classes caped at 15 people max so everyone can get the individual attention they need.
8.) How has iKizmet helped your business?
iKizmet is a great tool. Through a single platform, it integrates virtually all the data I need to manage the day to day operations of Swet Studio. Because it is specifically designed for the fitness and wellness industry, it generates automated reports and analytics I need, all while saving me precious time.
Thank you Silviya for your awesome insights! To learn more about Swet Studio check out their website!