Bertus Albertse
— CEO, JETSET Pilates
Beyond opening more locations, rapid franchise growth requires a clear understanding of how those units perform and a practical way to help owners improve their businesses.
For JETSET Pilates, Qvinci provides that solution. The modern Pilates brand began franchising in 2022 and adopted Qvinci early to establish financial visibility as its network expanded. CEO Bertus Albertse and his team use the platform to understand studio performance, deliver meaningful benchmarks, and help franchise owners make informed decisions.
Qvinci gives JETSET Pilates access to franchisee financial statements, standardized reporting across the network, and customized benchmarks that help owners understand how their performance compares with peers. The platform also helps its lean finance team spend less time assembling information and more time supporting business decisions.
As Albertse explains, “Qvinci has absolutely been the anchor of our network.”
For Albertse, understanding unit-level economics is essential to both franchisee success and the long-term value of the entire organization. Revenue alone cannot show whether a studio is translating sales into sustainable profitability.
Previously, gaining financial visibility meant waiting for PDF or Excel reports. Preparing meaningful feedback could involve reviewing P&Ls with the finance team, gathering brand-wide benchmarks, and calculating medians, averages, and top-quartile performance before speaking with an owner. Additionally, because meaningful comparisons of studios requires custom metric calculations based on the number of Pilates reformers in each location, this added another layer of complexity.
This process created several challenges:
There was also a relationship challenge. When franchisees provide information without receiving useful insights, reporting feels like a one-way obligation. JETSET Pilates needed to demonstrate how sharing accurate financial information helps owners make profitable decisions.
“The moment a franchisee sees early on the access, the data hygiene, the transparency, it actually builds a huge amount of trust immediately.”
— Bertus Albertse
CEO, JETSET Pilates
JETSET Pilates adopted Qvinci early to establish a repeatable financial reporting process as its brand expanded. Albertse emphasized the importance of setting expectations from the beginning, including how transactions should be accounted for and how a Standard Chart of Accounts would support consistent reporting.
Qvinci connects with the accounting systems JETSET Pilates uses, including QuickBooks and Xero, and provides access to P&Ls, balance sheets, and cashflow statements. Instead of waiting for separate files, the team accesses financial information through the Qvinci platform and uses it to evaluate performance.
The value of using Qvinci extends beyond collecting data. JETSET Pilates uses Qvinci Intelligence™ to return meaningful comparisons and recommendations to franchisees, helping turn financial reporting into a shared resource for improving studio performance.
JETSET Pilates adopted Qvinci to get timely, comparable financial insights across its studios. Average unit volume (AUV) shows how much a studio sells, but it can’t tell leadership whether those sales translate into healthy margins. As CEO Bertus Albertse put it, “Revenue is vanity and profit is sanity. So the real question is, what’s driving the top line to the bottom line?”
Albertse noted that even some large franchise brands “…imply margins on revenue because they don’t have the P&Ls at hand.” With Qvinci Intelligence™, JETSET Pilates can access studio P&Ls, balance sheets, and cashflow statements and compare performance across the organization. When two studios generate similar revenue but earn different margins, JETSET Pilates and its franchisees can use those comparisons to investigate what’s driving the gap and decide where to focus.
That shared view gives franchisees a what’s-in-it-for-me reason to engage with financial reporting. They get useful benchmarks and more specific coaching in return. It also helps JETSET Pilates support profitable growth by giving owners and the corporate team a common basis for discussing what’s working and what needs to change.
The same visibility matters at the board level as well. With Qvinci’s Ranking and Benchmarking Analysis, JETSET Pilates’s leadership can show shareholders and the Board how studios are performing and where management sees opportunities for improvement. For Albertse, that empowers “…building confidence in how you’re managing the business.”
JETSET Pilates combines automated accounting synchronization with clear accounting policies and a common reporting structure. Franchisees still need to complete their allocations, reconciliations, and monthly close, but they no longer need to assemble a separate reporting package for the corporate team to gain visibility.
Matt Waller, Senior Director of Finance and Accounting, explained that JETSET sets a monthly deadline for owners to confirm their books are closed. Their financial data then syncs overnight, allowing the finance team to begin pulling reports the following morning.
“Qvinci saved us a hundredfold more than it has cost us in terms of the return on this investment with the platform, purely as a function of the number of people we would need in order to report on this.” — Bertus Albertse
Standardization helps the team compare studios consistently and move more quickly into analysis. When a financial account needs different mapping to the Standard Chart of Accounts or an owner makes an unexpected change, Waller can address the exception rather than rebuild the reporting process.
That combination gives JETSET Pilates a repeatable framework for onboarding new studios while preserving the accounting oversight needed to make the information useful.
JETSET Pilates uses Qvinci to help franchisees understand how their results compare with the network and where improvement opportunities may exist. Its custom benchmarks cover revenue streams, costs, expenses, and bottom-line performance.
For a Pilates business, studio size matters. JETSET Pilates evaluates profit per reformer to compare the returns generated by each revenue-producing asset and account for differences in the number of reformers across studios.
Anonymous ranking adds another layer of context. Owners can see their relative position on a metric without exposing another individual studio’s sensitive financial information. This makes it possible to discuss specific performance goals while protecting confidentiality.
Albertse explained, “Blind ranking and benchmarking is the gold standard in our opinion.”
The comparisons are especially valuable for newer franchisees who do not yet have several years of their own operating history. Network benchmarks give them context for evaluating their results and understanding what stronger-performing studios are achieving.
With Qvinci, Albertse can enter a franchisee conversation with relevant observations already available. Rather than arranging a separate finance meeting well in advance to assemble the numbers, he can pull up a business intelligence dashboard and focus on what the studio’s performance is showing. According to Albertse, “It takes me roughly 30 seconds ahead of that call to prepare for the call.”
That visibility also helps build confidence in the recommendations that follow. By sharing the reporting on screen, JETSET Pilates shows owners where the information comes from and how their results compare with relevant benchmarks.
Albertse sees that transparency as an important part of owner collaboration. When franchisees can understand the data and the value it provides, coaching becomes a more credible conversation about their business, which translates into less of a resented Big Brother culture, and more of a collaborative win/win relationship.
Qvinci also gives JETSET Pilates a way to prioritize attention. Reports that identify locations against preset risk and performance criteria help coaches determine where to focus without repeatedly sorting through and rebuilding reports.
JETSET Pilates needs reporting that reflects its business model, including the relationship between financial performance, reformer count, and different income channels.
Albertse described using Qvinci’s report library as a starting point, then working with the Qvinci team to adapt reports for JETSET Pilates’s needs. Its benchmarking reports retain network comparisons while filtering the location data shown to a single studio owner or a portfolio owner.
This gives the team a practical way to tailor a conversation without rerunning the entire underlying analysis.
“The team at Qvinci has always been incredibly responsive.” — Bertus Albertse
That support has helped JETSET Pilates develop reporting suited to its specific operating questions rather than limiting its analysis to a generic financial view.
JETSET Pilates uses Qvinci’s Break-Even and What-If Analysis to help studios plan around their own cost structures, which Waller uses to evaluate revenue, labor costs, fixed expenses, and variable spending to establish a tangible path toward break-even.
When performance differs from the plan, the team can investigate the operational factors behind the variance. That may include reviewing the mix of income streams, labor costs, class schedules, utilization, or marketing spending and returns.
The same reporting foundation helps JETSET Pilates scale its internal capabilities. Albertse described a finance function that has grown from himself alone to himself plus Waller, while reporting sophistication, visibility, and transparency remained intact: “It’s suddenly not tied to a head count, it’s not tied to one person’s capabilities, but it’s tied to a systemized solution for your reporting requirements.”
Instead of building a larger team simply to determine what the numbers mean, JETSET Pilates directs resources toward other parts of franchise support, including service and training. Automated reporting also makes it easier to compare different periods without reconstructing the analysis each time.
1. More Accessible Financial Information – JETSET Pilates has moved beyond waiting for PDF and Excel submissions to accessing near real-time franchisee financial statements through Qvinci. That visibility helps the team review results more readily once owners complete their accounting responsibilities.
2. More Meaningful Studio Comparisons – Standardized reporting and customized benchmarks help JETSET Pilates evaluate performance beyond sales totals. Measures such as profit per reformer provide context for comparing studios with different operating footprints.
3. Faster Preparation for Franchisee Conversations – Albertse prepares for a coaching call in roughly 30 seconds using the dashboard, compared with a previous process that required coordinating with finance ahead of time to gather statements and benchmarks.
4. Stronger Owner Trust and Clearer Goals – Transparent reporting and anonymous peer comparisons help owners understand the basis for recommendations. Rankings give coaches a starting point for setting specific improvement goals with franchisees.
5. Greater Capacity From a Lean Finance Team – Automated reporting and flexible period comparisons help JETSET Pilates support an expanding brand without tying every additional reporting requirement to another employee. The team can devote more attention to analysis and franchisee support.
For JETSET Pilates, Qvinci connects financial visibility with the work of supporting franchise owners. Standardized data provides the foundation, customized benchmarks supply context, and coaching helps translate the information into decisions owners can act on.
Early adoption has helped JETSET Pilates establish that process as part of its growth. Instead of treating financial reporting solely as a requirement, the brand uses it to show franchisees what they receive in return: clearer comparisons, more focused guidance, and a better understanding of their studios’ economics.
For Albertse, that combination makes Qvinci a valuable part of the organization’s financial infrastructure. Reflecting on the platform’s cost, he said, “The cost is almost negligible. It’s probably the most efficient system that I’ve ever used in terms of value relative to cost.”
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