Illustrative case study · Private Equity

Studio owners stay put until renewal comes around.

Studio software is split across booking, payment and marketing tools. A private equity investor weighing a platform play needed to know how loyal owners are to what they run today, and what would make them move. We interviewed 200 studio owners and managers and delivered the report in 14 days.

Illustrative scenario

Samplen = 200

Illustrative report

Fitness Studio Management Software

Would studio owners leave the software they run today, and what would one platform need to win them?

Study architecture

Map the painSatisfaction, pain points and the cost of running separate tools

Gauge the switchSwitching effort, renewal timing and replacement intent

Rank the featuresA seven-feature MaxDiff on what would win a move

Scope

Owners who dislike their software may still stay put if moving looks harder than staying.

Sample

200

Owners and managers of yoga, pilates, cycling and strength studios.

Research by

Study typeMarket assessment

ScenarioIllustrative

Studio management software · Executive reportExecutive summary

Executive summary

Studio owners want one platform, and their renewal date decides when they move

The 200 owners and managers of boutique fitness studios describe a software stack split across booking, payment and marketing tools, and low satisfaction with it. Switching looks hard, so few plan to move soon. The owners with a renewal inside two years are more than twice as open to one platform, and integrated payments is the feature that would win them.

−37n = 200

net promoter score for the current system

68%n = 200

say switching would be difficult

20%n = 200

are likely to replace their system within two years

65%n = 88

with a renewal inside two years would likely adopt one platform

Figures rounded. Base n = 200 owners and managers unless stated.

Top lines

1Separate tools are the main pain, and price ranks near the bottomPain points, satisfaction, net promoter score03

2Switching looks hard, so only one in five plans to replace their systemReplacement intent and barriers04

3Renewal timing separates the owners who will moveAdoption by renewal window05

4Payments and booking would win the switchMaxDiff feature priorities06

5Sample, screener and quality controlWho we interviewed and how07

AAppendixQuestion flow and data tables09

Sample

200 owners and managers

Segments

120 independent, 80 multi-site

Method

AI-moderated interviews with MaxDiff

Markets

US and Canada

Illustrative report. The company, scenario, and all figures are fictional.

Illustrative report02

Illustrative reportExecutive summary

Illustrative example. The company, scenario, and all figures are fictional. They show UserCue’s method and deliverable format. They do not come from any client study.

The engagement

Delivered in

days, with the report, the data file and a live readout.

Interviews

200

Owners and managers of boutique fitness studios.

Audiences

120 independent studios and 80 multi-site operators.

Method

MaxDiff

Seven features ranked in best-worst sets of four, by studio type.

The brief

Client

A private equity investor

Decision

Whether to back a platform play in studio software

Stage

Market assessment, before a deal

How we ran it

Approach

AI-moderated interviews with a seven-feature MaxDiff

Measured

Satisfaction, pain points, switching intent, feature priorities

Sample

Yoga, pilates, cycling and strength studios in the US and Canada

Headline figures

Satisfaction−37

net promoter score for owners’ current system

Switching20%

are likely to replace their system within two years

Timing65%

of owners with a renewal inside two years would likely adopt one platform, against 29% of the rest

The question

Would studio owners leave the software they run today?

One platform that does it all was the investor’s case. The deal team needed evidence from the people who choose the software, comparing independent studios with multi-site operators.

How satisfied are owners with the system they run today?

What would it take for them to switch, and when?

Which features would a new platform have to win on?

What we did

How the study ran, start to finish.

1Kickoff
The deal team names the decision.
Would studio owners leave the software they run today for one platform? The kickoff turned it into three questions: how satisfied owners are, what would make them switch and when, and which features would win them.
2Design
Seven features, two buyer groups.
The screener admitted only owners and managers who choose their studio’s software: 120 independent studios and 80 multi-site operators. A seven-item MaxDiff made them rank what they would give up, and a renewal-date question set up the timing cut.
3Fielding
200 studio owners, in their own words.
Interviews ran by voice or text, quant and qual in one conversation, with a follow-up on every pain point, for a median 32 minutes. The researcher read all 236 and removed 36 for rushed responses, contradictions or the wrong role, leaving 200.
4Analysis
Renewal timing splits the market.
The researcher split replacement intent by contract date to find the owners who will move. Owners with a renewal inside two years were more than twice as open to one platform as everyone else, 65% against 29%.
5Readout
Near renewal, 65% would adopt one platform.
The researcher walked the investor through a 34-page report at a live readout: MaxDiff model, segment cuts and every verbatim, plus the full data file. The deal team rebuilt the growth case around studios with a renewal inside two years.

What we found

Four findings from the report.

Summary

Owners give their current system a net promoter score of −37, and 71% name separate tools as a significant problem, against 13% who call the price too high. Switching looks hard to 68%, so only 20% are likely to replace their system within two years. Renewal timing separates the movers: 65% of owners with a renewal inside two years would likely adopt one platform, against 29% of the rest.

Studio management software · Executive reportTop line 1

Top line 1 of 4

Separate tools are the main pain, and price ranks near the bottom

¹ Q14. Which of these cause significant problems for your studio today? Multi-select, n = 200.

² Price concerns by studio size are directional; see the appendix tables.

Owners run their studios on booking, payment and marketing tools that do not talk to each other. 71% name separate tools as a significant problem, and 52% re-key member details between them¹. Only 13% call their system too expensive for what it does. Satisfaction is weakest where the tools meet, with 29% satisfied with reporting and 20% with how their systems connect.

71%n = 200

name separate tools as a significant problem

52%n = 200

re-key member details between tools

13%n = 200

call their system too expensive for what it does

−37NPS, n = 200

net promoter score for the current system

Significant problems with the current software setup

Significant problems today, multi-select (n = 200)

Net promoter score, current system (n = 200)

PromoterPassiveDetractor

Satisfied, by area (n = 200)

Multi-select; shares do not sum to 100. Net promoter score: share scoring nine or ten minus share scoring six or below.

Supporting evidence

Multi-site operators feel the reporting gap most: unified reporting ranks second for them (top line 4). § 3.2
Price complaints cluster among the smallest studios and never lead the list. § 3.3²

Illustrative report03

Studio management software · Executive reportTop line 2

Top line 2 of 4

Switching looks hard, so only one in five plans to replace their system

¹ Q29. How likely is your studio to replace its main management system in the next two years? Single select, n = 200.

² Q30. What would make switching difficult for your studio? Multi-select, asked of the 136 who expect a difficult switch.

Owners are unhappy, yet most stay where they are. 68% say switching would be difficult, and 20% are likely to replace their system within two years¹; 48% say they are unlikely to and the rest are unsure. Among the 136 who expect a difficult switch, the work of moving leads the barriers: member and billing history (78%) and retraining front-desk staff (62%) outrank any concern about a new vendor’s price.

68%n = 200

say switching would be difficult

20%n = 200

are likely to replace their system within two years

78%n = 136

cite moving member and billing history

62%n = 136

cite retraining front-desk staff

Replacement intent and the barriers to switching

What would make switching difficult, multi-select (n = 136)

Likelihood of replacing the system within two years (n = 200)

LikelyUnsureUnlikely

Switching would be difficult, by segment

Single-select intent question; shares are rounded. Barriers asked of the 136 who expect a difficult switch, multi-select; shares do not sum to 100.

Supporting evidence

Exit costs rank fourth: contracts hold fewer owners in place than the work of moving does. § 4.2
Multi-site operators expect a harder switch than independents, 75% against 63%. § 4.3²

Illustrative report04

Studio management software · Executive reportTop line 3

Top line 3 of 4

Renewal timing separates the owners who will move

¹ Q34. How likely would your studio be to adopt one platform for booking, payments, marketing and reporting? Five-point scale.

² Q32. When does your current software contract come up for renewal? Single select, n = 200.

Timing predicts a move better than dissatisfaction does. Among the 88 owners with a renewal inside two years, 65% would likely adopt one platform, against 29% of the 112 whose renewal is further out or not set¹. The gap is statistically significant. Demand for the concept itself is broad: 79% rate one platform valuable, multi-site operators most of all.

65%n = 88

with a renewal inside two years would likely adopt

29%n = 112

of the rest would likely adopt

79%n = 200

rate one platform valuable

88of 200

owners face a renewal inside two years

Likelihood of adopting one platform, by renewal timing

Would likely adopt one platform, top-two box

Rate one platform valuable, by segment

When the current contract comes up for renewal (n = 200)

Within a yearOne to two yearsLaterNot set

Two-proportion test at 95% confidence. Renewal timing is self-reported; “not set” includes month-to-month plans. Five-point likelihood scale, top two boxes.

Supporting evidence

Month-to-month owners behave like the later group: no renewal date, little urgency. § 5.2
Owners inside the window ask most often about migration help, the barrier in top line 2. § 5.3²

Illustrative report05

Studio management software · Executive reportTop line 4

Top line 4 of 4

Payments and booking would win the switch

¹ MaxDiff block in the research appendix: seven features, four per screen, seven screens; hierarchical Bayes estimation, n = 200.

A seven-feature MaxDiff ranks what owners would switch for. Integrated payments and billing scores highest, ahead of a member booking app¹. Automated retention alerts and unified reporting follow, and retail and point of sale trails the list. Multi-site operators move unified reporting up to second, the one material difference by segment.

100index

integrated payments and billing, the top feature

72index

member booking app, second overall

2ndn = 80

unified reporting among multi-site operators

7features

tested, four to a screen

MaxDiff preference scores for seven platform features

Preference score, indexed to the top feature (n = 200)

Top three, independent studios (n = 120)

1Integrated payments and billing
2Member booking app
3Automated retention alerts

Top three, multi-site operators (n = 80)

1Integrated payments and billing
2Unified reporting
3Member booking app

Hierarchical Bayes individual-level estimates, rescaled so the top feature = 100; scores are relative and do not sum to 100. Seven features shown four at a time across seven screens.

Supporting evidence

Retail and point of sale scores lowest in both segments: owners treat retail as a side line. § 6.2
Payments leads where separate tools cost the most staff time, the pain in top line 1. § 6.3

Illustrative report06

Top line 1 of 4 · page 03Illustrative report · top line 1 of 4 · swipeIllustrative report

Question 1 · Satisfaction

Separate tools are the main pain, and price ranks low.

71% name separate booking, payment and marketing tools as a significant problem, and 52% re-key member details between them. Only 13% call their software too expensive for what it does. Owners give their current system a net promoter score of −37.

Separate tools for booking, payments and marketing71%

Member details re-keyed between tools52%

Reports pulled together by hand45%

Price too high for what it does13%

Significant pain points · multi-select · n = 200

Question 2 · The switch

Switching looks hard, so few plan to move.

68% say switching would be difficult, and 20% are likely to replace their system within two years. Among the 136 who expect a difficult switch, moving member and billing history (78%) and retraining front-desk staff (62%) lead the barriers.

Switching would be difficult68%

Unlikely to replace in two years48%

Likely to replace in two years20%

All owners and managers · n = 200

Question 2 · The timing

Renewal timing separates the owners who will move.

Among the 88 owners with a renewal inside two years, 65% would likely adopt one platform, against 29% of the 112 whose renewal is further out or not set. The difference is statistically significant. Across all owners, 79% rate one platform valuable.

65%renewal inside two years

29%later or not set

Likely to adopt one platform · n = 88 vs n = 112

Question 3 · The features

Payments and booking would win the switch.

In a seven-feature MaxDiff, integrated payments and billing scored highest, ahead of a member booking app. Multi-site operators (n = 80) moved unified reporting up to second.

Integrated payments and billing100

Member booking app72

Automated retention alerts57

Unified reporting48

MaxDiff score, indexed to 100 · top 4 of 7 · n = 200

“I would pay more for one system that does it all. What I won’t do is spend a month rebuilding my class schedule.”

Studio owner · Illustrative quote

Illustrative quotes

Three themes behind the numbers.

Separate tools

“We take a payment in one app, book the class in another and send the reminder from a third. Every Friday someone reconciles all of it by hand.”

Studio owner

Switching cost

“Moving years of member history scares me more than the price of anything new. If the move goes wrong, members feel it at the front desk.”

Studio manager

Timing

“Our contract renews next spring. That is the one window where I would seriously look at something else.”

Operations director

What the investor did

Three moves made with the report.

1The thesis · from finding 3

Focused the growth case on renewal windows.

The deal team built its model around studios with a contract decision inside two years, the owners most open to a move.

2The roadmap · from finding 4

Put payments and booking first.

Integrated payments and the member booking app moved to the top of the first-year product plan.

3The risk · from finding 2

Priced in the cost of moving.

Data migration and staff training became a line in the operating plan, with a target to cut onboarding time in half.

Illustrative example. The company, scenario, and all figures are fictional. They show UserCue’s method and deliverable format. They do not come from any client study.

Bring us your next diligence question.

A senior researcher designs and presents every study.

Talk to our team

More private equity studies

Retention study

How the study ran, start to finish.

1Kickoff

The deal team names the decision.

Would studio owners leave the software they run today for one platform? The kickoff turned it into three questions: how satisfied owners are, what would make them switch and when, and which features would win them.

2Design

Seven features, two buyer groups.

The screener admitted only owners and managers who choose their studio’s software: 120 independent studios and 80 multi-site operators. A seven-item MaxDiff made them rank what they would give up, and a renewal-date question set up the timing cut.

3Fielding

200 studio owners, in their own words.

Interviews ran by voice or text, quant and qual in one conversation, with a follow-up on every pain point, for a median 32 minutes. The researcher read all 236 and removed 36 for rushed responses, contradictions or the wrong role, leaving 200.

4Analysis

Renewal timing splits the market.

The researcher split replacement intent by contract date to find the owners who will move. Owners with a renewal inside two years were more than twice as open to one platform as everyone else, 65% against 29%.

5Readout

Near renewal, 65% would adopt one platform.

The researcher walked the investor through a 34-page report at a live readout: MaxDiff model, segment cuts and every verbatim, plus the full data file. The deal team rebuilt the growth case around studios with a renewal inside two years.

Four findings from the report.

Summary

Studio management software · Executive reportTop line 1

Top line 1 of 4

Separate tools are the main pain, and price ranks near the bottom

¹ Q14. Which of these cause significant problems for your studio today? Multi-select, n = 200.

² Price concerns by studio size are directional; see the appendix tables.

71%n = 200

name separate tools as a significant problem

52%n = 200

re-key member details between tools

13%n = 200

call their system too expensive for what it does

−37NPS, n = 200

net promoter score for the current system

Significant problems with the current software setup

Significant problems today, multi-select (n = 200)

Net promoter score, current system (n = 200)

PromoterPassiveDetractor

Satisfied, by area (n = 200)

Multi-select; shares do not sum to 100. Net promoter score: share scoring nine or ten minus share scoring six or below.

Supporting evidence

Multi-site operators feel the reporting gap most: unified reporting ranks second for them (top line 4). § 3.2
Price complaints cluster among the smallest studios and never lead the list. § 3.3²

Illustrative report03

Studio management software · Executive reportTop line 2

Top line 2 of 4

Switching looks hard, so only one in five plans to replace their system

¹ Q29. How likely is your studio to replace its main management system in the next two years? Single select, n = 200.

² Q30. What would make switching difficult for your studio? Multi-select, asked of the 136 who expect a difficult switch.

68%n = 200

say switching would be difficult

20%n = 200

are likely to replace their system within two years

78%n = 136

cite moving member and billing history

62%n = 136

cite retraining front-desk staff

Replacement intent and the barriers to switching

What would make switching difficult, multi-select (n = 136)

Likelihood of replacing the system within two years (n = 200)

LikelyUnsureUnlikely

Switching would be difficult, by segment

Single-select intent question; shares are rounded. Barriers asked of the 136 who expect a difficult switch, multi-select; shares do not sum to 100.

Supporting evidence

Exit costs rank fourth: contracts hold fewer owners in place than the work of moving does. § 4.2
Multi-site operators expect a harder switch than independents, 75% against 63%. § 4.3²

Illustrative report04

Studio management software · Executive reportTop line 3

Top line 3 of 4

Renewal timing separates the owners who will move

¹ Q34. How likely would your studio be to adopt one platform for booking, payments, marketing and reporting? Five-point scale.

² Q32. When does your current software contract come up for renewal? Single select, n = 200.

65%n = 88

with a renewal inside two years would likely adopt

29%n = 112

of the rest would likely adopt

79%n = 200

rate one platform valuable

88of 200

owners face a renewal inside two years

Likelihood of adopting one platform, by renewal timing

Would likely adopt one platform, top-two box

Rate one platform valuable, by segment

When the current contract comes up for renewal (n = 200)

Within a yearOne to two yearsLaterNot set

Two-proportion test at 95% confidence. Renewal timing is self-reported; “not set” includes month-to-month plans. Five-point likelihood scale, top two boxes.

Supporting evidence

Month-to-month owners behave like the later group: no renewal date, little urgency. § 5.2
Owners inside the window ask most often about migration help, the barrier in top line 2. § 5.3²

Illustrative report05

Studio management software · Executive reportTop line 4

Top line 4 of 4

Payments and booking would win the switch

¹ MaxDiff block in the research appendix: seven features, four per screen, seven screens; hierarchical Bayes estimation, n = 200.

100index

integrated payments and billing, the top feature

72index

member booking app, second overall

2ndn = 80

unified reporting among multi-site operators

7features

tested, four to a screen

MaxDiff preference scores for seven platform features

Preference score, indexed to the top feature (n = 200)

Top three, independent studios (n = 120)

1Integrated payments and billing
2Member booking app
3Automated retention alerts

Top three, multi-site operators (n = 80)

1Integrated payments and billing
2Unified reporting
3Member booking app

Hierarchical Bayes individual-level estimates, rescaled so the top feature = 100; scores are relative and do not sum to 100. Seven features shown four at a time across seven screens.

Supporting evidence

Retail and point of sale scores lowest in both segments: owners treat retail as a side line. § 6.2
Payments leads where separate tools cost the most staff time, the pain in top line 1. § 6.3

Illustrative report06

Top line 1 of 4 · page 03Illustrative report · top line 1 of 4 · swipeIllustrative report

Question 1 · Satisfaction

Separate tools are the main pain, and price ranks low.

Separate tools for booking, payments and marketing71%

Member details re-keyed between tools52%

Reports pulled together by hand45%

Price too high for what it does13%

Significant pain points · multi-select · n = 200

Question 2 · The switch

Switching looks hard, so few plan to move.

Switching would be difficult68%

Unlikely to replace in two years48%

Likely to replace in two years20%

All owners and managers · n = 200

Question 2 · The timing

Renewal timing separates the owners who will move.

65%renewal inside two years

29%later or not set

Likely to adopt one platform · n = 88 vs n = 112

Question 3 · The features

Payments and booking would win the switch.

In a seven-feature MaxDiff, integrated payments and billing scored highest, ahead of a member booking app. Multi-site operators (n = 80) moved unified reporting up to second.

Integrated payments and billing100

Member booking app72

Automated retention alerts57

Unified reporting48

MaxDiff score, indexed to 100 · top 4 of 7 · n = 200

Three themes behind the numbers.

Separate tools

“We take a payment in one app, book the class in another and send the reminder from a third. Every Friday someone reconciles all of it by hand.”

Studio owner

Switching cost

“Moving years of member history scares me more than the price of anything new. If the move goes wrong, members feel it at the front desk.”

Studio manager

Timing

“Our contract renews next spring. That is the one window where I would seriously look at something else.”

Operations director

Three moves made with the report.

1The thesis · from finding 3

Focused the growth case on renewal windows.

The deal team built its model around studios with a contract decision inside two years, the owners most open to a move.

2The roadmap · from finding 4

Put payments and booking first.

Integrated payments and the member booking app moved to the top of the first-year product plan.

3The risk · from finding 2

Priced in the cost of moving.

Data migration and staff training became a line in the operating plan, with a target to cut onboarding time in half.

Illustrative example. The company, scenario, and all figures are fictional. They show UserCue’s method and deliverable format. They do not come from any client study.

Would studio owners leave the software they run today?

How satisfied are owners with the system they run today?

What would it take for them to switch, and when?

Which features would a new platform have to win on?

How the study ran, start to finish.

The deal team names the decision.

Seven features, two buyer groups.

200 studio owners, in their own words.

Renewal timing splits the market.

Near renewal, 65% would adopt one platform.

Four findings from the report.

Separate tools are the main pain, and price ranks low.

Switching looks hard, so few plan to move.

Renewal timing separates the owners who will move.

Payments and booking would win the switch.

Three themes behind the numbers.

Three moves made with the report.

Focused the growth case on renewal windows.

Put payments and booking first.

Priced in the cost of moving.

Bring us your next diligence question.

Contract Lifecycle Management Platform VoC

Fleet Management Software VoC

Accounting Firm Client Loyalty

Would studio owners leave the software they run today?

How satisfied are owners with the system they run today?

What would it take for them to switch, and when?

Which features would a new platform have to win on?

How the study ran, start to finish.

The deal team names the decision.

Seven features, two buyer groups.

200 studio owners, in their own words.

Renewal timing splits the market.

Near renewal, 65% would adopt one platform.

Four findings from the report.

Separate tools are the main pain, and price ranks low.

Switching looks hard, so few plan to move.

Renewal timing separates the owners who will move.

Payments and booking would win the switch.

Three themes behind the numbers.

Three moves made with the report.

Focused the growth case on renewal windows.

Put payments and booking first.

Priced in the cost of moving.

Bring us your next diligence question.

Contract Lifecycle Management Platform VoC

Fleet Management Software VoC

Accounting Firm Client Loyalty